Amsterdam-based Greener Power Solutions bags €45M to fastrack transition to green energy

Amsterdam-based Greener Power Solutions, a company that provides mobile battery energy storage solutions, announced on Tuesday that it has raised €45M in a fresh round of funding. 

The investment came from DIF Capital Partners, a Dutch investment company with over €11B under management. The firm is globally active and specialises in infrastructure and renewable energy through the investment fund DIF CIF III.

About DIF

DIF invests in (renewable) energy, telecom, social infrastructure, and transport sectors with a focus on Europe, North and South America, and Australia through two complementary strategies:

1) The DIF CIF fund focuses on growth capital and buy-out investments in small to medium-sized companies active in energy transition, telecoms and transport. 

2) The traditional DIF funds focus on low-risk infrastructure investments with long-term contracted or regulated revenue streams. 

The firm’s team consists of 190 professionals based in offices in Amsterdam, Frankfurt, Helsinki, London, Luxembourg, Madrid, New York, Paris, Santiago, Sydney, and Toronto.

Willem Jansonius, partner and head of the DIF CIF strategy, says, “DIF believes that the importance of decarbonising the economy and drastically reducing nitrogen emissions creates unprecedented momentum for clean energy solutions. The current nitrogen crisis in the Netherlands plays a major role in this. Moreover, temporary energy is of growing importance due to the overloading of the Dutch power grid that we are currently seeing. Greener’s mobile energy solutions offer its customers a significant reduction in harmful emissions and therefore contribute to the realisation of the energy transition. We look forward to realising Greener’s ambitious growth plans.”

Delivering clean energy solutions to any location

Founded in 2018, Greener Power Solutions provides services to the temporary energy industry. They offer mobile batteries equipped with their own software for leasing to a variety of industries, including construction, grid reinforcement, events, and EV charging. 

The company aims to improve the effectiveness and sustainability of energy solutions for on- and off-grid projects by renting out batteries. For this, Greener has built its own planning, monitoring, and EMS software to optimise power supply. By accelerating the energy transition in this manner, Greener works to minimise its CO2 impact.

Greener’s fleet consists of 60 batteries with a total capacity of 20 MWh. By replacing polluting diesel generators, the company says it has already saved almost 1.5 million litres of diesel and 4.5 million kg of CO2 emissions in recent years. Additionally, Greener claims that its self-developed software that controls the batteries helps customers to manage their energy consumption in a smarter and more economical way.

Klaas Akkerman, COO of Greener, says, “Our software is what sets us apart from other players in the market. Not only can we provide insight into usage from the battery but we can also control various power sources such as solar, wind and hydrogen. In this way, we connect the temporary energy market to both storage and smart technology. That is important at a time of acute capacity problems on the energy grid and a rapidly rising demand for electricity.”

Funds to transition from fossil to renewable energy sources

Greener Power Solutions says it will use the raised funds to strengthen its market position in the Netherlands and beyond by further investing in hardware, software and innovation.

According to a statement, a portion of the funds will go into research and development in order to facilitate the introduction of new products and services. The fleet of mobile batteries is also expected to grow significantly. Greener’s team, which currently has 25 members, will also be further professionalised and scaled as part of its upscaling.

Dieter Castelein, CEO of Greener Power Solutions, says, “DIF’s investment enables us to pursue new goals and capitalise on the great opportunities we see for our energy solutions. We believe that temporary energy facilities can play a major role in accelerating the transition from fossil to renewable energy sources. Moreover, our ambition is to help customers achieve sustainability on an even larger scale. With this investment, we will strengthen the team, enter new markets and expand the fleet.”