Swedish energy storage firm Polarium announced that it has secured €36.7M in funding in a rights issue directed towards their majority owners Stefan Jansson Global Invest, Vargas Holding, AMF, and Alecta.
Polarium says the funds will help the company continue its growth and expansion plans.
Last year, in May, the company became a unicorn after raising €91.84M from AMF, one of the top pension companies in Sweden. In October, the company announced Alecta, Formica Capital and Absolute Unlisted as news owners. In a coordinated transaction, the three parties purchased a total of SEK 1.1B+ (approximately €100M) in existing Polarium shares.
106 per cent growth in 2023
Founded in 2015, Polarium aims to provide safe, smart, and sustainable energy storage solutions to enable the transition to a sustainable energy future.