The energy storage industry in Europe plays a crucial role in the transition to a sustainable energy future, allowing the integration of renewable energy sources like wind and solar into the grid. Companies across various segments are actively developing innovative technologies, including battery storage, pumped hydro, and thermal storage systems. This growing sector is characterized by increased investment and collaboration among startups, corporates, and research organizations. As Europe aims for a carbon-neutral future, advancements in energy storage technology promise not only to improve energy efficiency and reliability but also to bolster grid resilience against fluctuations in supply and demand.


The list features 13 notable investors in the energy storage sector across Europe. These entities range from corporate giants like Shell and TotalEnergies to venture capital firms such as Bpifrance. Headquartered in locations including London, Paris, and Stockholm, the investors vary significantly in size and structure, from small firms to multinational corporations. Each has participated in multiple transactions in 2024, amounting to a total of 426 deals. The diversity and strategic focus of these investors highlight the growing interest and commitment toward advancing energy storage solutions.


Top 13 Energy Storage Investors in Europe


1. European Innovation Council (EIC)


The European Innovation Council (EIC) is a public entity based in Brussels, Belgium, founded in 1958, that supports innovation and entrepreneurship across Europe. It offers various funding programs, including the EIC Accelerator and EIC Pathfinder, aimed at helping startups and SMEs develop and scale their technologies. The EIC provides business acceleration services, networking opportunities, and prizes to foster innovation in multiple sectors. In the context of energy storage, the EIC has been involved in significant transactions such as the funding of Energy Dome, which raised over $16 million in both Series B and venture rounds in 2023, and also received grants for its projects. Additionally, EIC participated in a €15 million financing round for Stabl Energy, a startup focused on used car battery technology for energy storage. These investments highlight EIC's commitment to advancing energy storage technologies and supporting innovative solutions in this critical sector.


2. InnoEnergy

  • Website: innoenergy.com
  • Type: Venture Capital
  • Headquarters: Eindhoven, North Brabant, Netherlands
  • Founded year: 2010
  • Headcount: 201-500
  • Number of deals in 2024: 52
  • LinkedIn: innoenergy

EIT InnoEnergy is a not-for-profit organization founded in 2010, based in Eindhoven, North Brabant, Netherlands, dedicated to accelerating sustainable energy innovations. It serves as a marketplace for energy solutions, providing training programs and support for innovators and corporates in the energy sector. InnoEnergy collaborates with various stakeholders to tackle the challenges of energy transition and sustainability. Notably, InnoEnergy has participated in significant funding rounds for companies like Skeleton Technologies, an ultracapacitor manufacturer, where they contributed to multiple Series D funding rounds aimed at scaling up supercapacitor production and developing new battery technologies. Additionally, InnoEnergy has invested in VoltStorage, a company focused on developing Redox Flow battery technology, supporting their expansion and production efforts. These transactions highlight InnoEnergy's active role in the energy storage sector, reinforcing their relevance as an investor in this industry.


3. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg, established in 1958, that provides a range of financial services including loans, equity investments, guarantees, and advisory services aimed at supporting sustainable projects across various sectors. EIB's clientele includes both public and private organizations seeking funding for initiatives that promote growth and job creation. Among its notable transactions, EIB has provided significant loans to Iberdrola for the development of renewable energy projects, including solar and wind initiatives. Additionally, EIB's involvement in the debt financing of Skeleton Technologies, which raised approximately $15.96 million, highlights its commitment to supporting innovative energy storage solutions. This diverse portfolio underscores EIB's role as a key player in financing projects that contribute to the energy transition and sustainability goals.


4. Shell

  • Website: shell.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1907
  • Headcount: 10001+
  • Number of deals in 2024: 20
  • LinkedIn: shell

Shell plc is a multinational oil and gas company based in London, England, that operates in the energy and chemicals sectors. Founded in 1907, Shell provides essential products such as fuels, lubricants, and chemical solutions to businesses and consumers globally. In recent years, Shell has actively expanded its involvement in the energy storage sector. Notably, Shell acquired 100% of the German energy storage provider sonnen in February 2019, marking a significant move into this industry. Prior to the acquisition, Shell Ventures led a €60 million financing round for sonnen in May 2018, supporting the company's international growth strategy in energy storage. Additionally, Shell has invested in Geli, a company focused on energy analytics and hardware partnerships, through a $7 million Series A funding round in April 2016. Shell also participated in funding Offgrid Energy Labs, which is developing innovative rechargeable zinc-based battery technology. These transactions highlight Shell's strategic interest in energy storage solutions as part of its broader energy transition strategy.


5. Bpifrance French Tech Accélération


Bpifrance French Tech Accélération is a venture capital investor based in Paris, Île-De-France, France, founded in 2015. As a public entity and financial institution, Bpifrance supports entrepreneurs and businesses in France and internationally through a variety of services, including direct funding, export credit insurance, and private equity investments. The institution aims to foster entrepreneurship and innovation, helping businesses navigate growth and international expansion. Bpifrance has been involved in several significant transactions relevant to the energy storage sector, including a $1.6 billion debt financing for Northvolt, a leading battery manufacturer, and an undisclosed funding round for Neoen, a company engaged in renewable energy projects. Additionally, their recent seed investment in Storio Energy, which focuses on energy storage solutions, highlights their commitment to supporting the energy transition. Other notable transactions include debt financing for Boralex and Q ENERGY France, both of which are involved in renewable energy and energy management.


6. BloombergNEF

  • Website: about.bnef.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2004
  • Headcount: 51-200
  • LinkedIn: bloombergnef

BloombergNEF is a research firm specializing in the energy and commodity markets, providing strategic insights and analysis to help businesses and organizations navigate the transition to a low-carbon economy. Founded in 2004 and based in London, England, BloombergNEF focuses on comprehensive research reports, summits, and a pioneering program that identifies innovative technologies for decarbonization. Notably, they have been involved in several grant transactions that support energy storage companies, including Sonnen, Stem, Maxwell Technologies, Skeleton Technologies, and Energy Dome. These investments reflect their engagement with the energy storage sector and their role in fostering advancements in this critical area of the energy transition.


7. Crowdcube

  • Website: crowdcube.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2010
  • Headcount: 51-200
  • Number of deals in 2024: 3
  • LinkedIn: crowdcube-limited

Crowdcube is a London-based crowdfunding platform founded in 2010 that enables businesses, particularly startups and SMEs, to raise capital through equity investments. The platform connects these businesses with potential investors, facilitating the funding process. Crowdcube has a strong focus on promoting diversity and inclusion within its workforce while providing investment management services to its clients. Notably, Crowdcube has been involved in several transactions within the energy storage sector, including Gravitricity, which raised funds to advance hydrogen storage capabilities and energy storage efforts in multiple countries. Additionally, Crowdcube has supported RheEnergise, which has raised significant capital through equity crowdfunding for its energy storage solutions. These transactions highlight Crowdcube's active role in supporting innovative energy storage companies.


8. Equinor

  • Website: equinor.com
  • Type: Corporate
  • Headquarters: Stavanger, Rogaland, Norway
  • Founded year: 1972
  • Headcount: 10001+
  • Number of deals in 2024: 6
  • LinkedIn: equinor

Equinor ASA is a public entity operating in the energy sector, focusing on oil, gas, and renewable energy. Founded in 1972 and based in Stavanger, Norway, Equinor has a workforce of over 10,000 employees. The company is committed to sustainability and aims to become a net-zero emissions entity by 2050. Equinor serves a diverse customer base, including governments and industries, providing energy solutions that address climate challenges while ensuring energy security. Notably, Equinor has made significant investments in the energy storage sector, including a 45% stake in Noriker Power, a UK battery storage developer, which highlights its strategic interest in the growing battery storage market. Additionally, Equinor has invested in renewable energy projects such as Scatec Solar ASA, further emphasizing its commitment to diversifying its energy portfolio and enhancing its presence in the renewable energy landscape.


9. TotalEnergies


TotalEnergies is a corporate investor based in France, founded in 1924, and is focused on producing and marketing a diverse range of energy solutions, including oil, gas, and renewable energy. The company is committed to achieving carbon neutrality by 2050 and has been actively expanding its renewable energy portfolio. Notable transactions include the acquisition of Kyon Energy in January 2024, which aligns with their strategy to enhance renewable energy capabilities. Additionally, TotalEnergies has been involved in significant acquisitions such as VSB Group, which strengthens their position in the renewable sector. Importantly, they are also selling a 50% stake in a 2 GW solar and battery energy storage portfolio in Texas, demonstrating their active engagement in the energy storage market. This strategic focus on both renewable energy and energy storage positions TotalEnergies as a relevant investor in the energy storage industry.


10. Almi

  • Website: almi.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 201-500
  • Number of deals in 2024: 7
  • LinkedIn: almi-ab

Almi AB is a financial services company based in Stockholm, Sweden, founded in 1994. It provides loans, risk capital, and business development support to small and medium-sized enterprises (SMEs) in Sweden, aiming to enhance their growth and competitiveness through tailored financial solutions. Almi Invest, a branch of Almi, has been involved in several notable transactions in the energy storage sector, including investments in Granode Materials, which is developing next-generation anode materials for energy storage, and Cellfion, a startup focused on sustainable membranes for energy storage and conversion devices. Additionally, Almi has participated in funding rounds for CorPower Ocean, which, while primarily focused on wave energy, is part of the broader renewable energy landscape that intersects with energy storage solutions. These transactions highlight Almi's commitment to supporting innovative technologies within the energy storage domain.


11. EQT Group

  • Website: eqtgroup.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 1001-5000
  • Number of deals in 2024: 30
  • LinkedIn: eqt-partners

EQT Group is a prominent investment firm based in Stockholm, Sweden, specializing in private equity, infrastructure, real estate, growth equity, and venture capital. Founded in 1994, EQT serves institutional investors by providing expertise in managing diverse investment portfolios across multiple sectors and geographies. Recently, EQT has made significant strides in the energy storage sector, highlighted by their acquisition of Statera Energy, which focuses on battery storage and flexible generation in the UK. This acquisition aims to provide growth capital for further development in the energy market. Additionally, EQT's acquisition of Cypress Creek Renewables, a developer of solar and storage solutions, showcases their commitment to expanding operations in the renewable energy sector. Their strategy also includes the acquisition of Madison Energy Investments, further emphasizing their focus on renewable energy investments. Overall, EQT Group's active participation in energy storage-related transactions positions them as a relevant player in this industry.


12. Scottish Enterprise


Scottish Enterprise is a public entity established in 1991, dedicated to fostering economic development in Scotland. With a workforce of 1001-5000 employees, it provides a variety of services, including funding, business development advice, and support for innovation and exports. In recent years, Scottish Enterprise has been involved in several significant transactions within the energy storage sector. Notably, it has invested in Sunamp, a company specializing in thermal energy storage solutions, participating in multiple funding rounds totaling over $10 million. Additionally, Scottish Enterprise has supported Innovatium, a technology firm developing liquid air battery technology, by leading a funding round that raised over £900K. These investments highlight Scottish Enterprise's role in enhancing Scotland's economic landscape while also contributing to the advancement of energy storage technologies.


13. Engie

  • Website: engie.com
  • Type: Corporate
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1834
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: engie

ENGIE is a corporate investor based in Paris, Île-De-France, France, specializing in renewable energy and energy solutions. Founded in 1834, ENGIE operates globally with a focus on sustainability and decarbonization. They provide services to cities, industries, and individuals, aiming to reduce energy costs and emissions through innovative solutions. Recently, Engie has made significant strides in the energy storage sector, notably through their acquisition of Broad Reach Power's battery storage business, which includes a pipeline and operational projects in the US. This acquisition, valued at over $1 billion, is part of Engie's strategy to enhance their presence in the US energy storage market. Additionally, Engie's participation in funding rounds for sustainable energy initiatives, such as EIT InnoEnergy, further demonstrates their commitment to supporting energy storage and renewable energy solutions.



Energy Storage Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
InnoEnergyEindhoven, North Brabant, Netherlands201-500201052
European Investment Bank (EIB)Luxembourg1001-5000195899
ShellLondon, England, United Kingdom (UK)10001+190720
Bpifrance French Tech AccélérationParis, Île-De-France, France1-102015198
BloombergNEFLondon, England, United Kingdom (UK)51-20020040
CrowdcubeLondon, England, United Kingdom (UK)51-20020103
EquinorStavanger, Rogaland, Norway10001+19726
TotalEnergiesFrance10001+192411
AlmiStockholm, Stockholm, Sweden201-50019947
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
Scottish EnterpriseGlasgow, Scotland, United Kingdom (UK)1001-5000199155
EngieParis, Île-De-France, France10001+18343


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