Koolen Industries group company Sympower receives €22 million VC investment

Hengelo, The Netherlands, July 19, 2022


Koolen Industries group company and certified B Corporation Sympower has secured €22 million of additional VC investment to help them accelerate the energy transition through their smart software that balances the supply and demand of electricity across international energy grids.

Sympower Borad Members
Sympower board members. Left to right: Jan-Joost van Dam (COO), Simon Bushell (Founder & CEO), Herman Vos (CFO)

Funds were secured from an oversubscribed investment round led by Silicon Valley-based Activate Capital supported by Expon Capital, as well as previous investors Rubio Impact Ventures, PDENH, and Rockstart. Kees Koolen, Founder and CEO, Koolen Industries: "Sympower has developed a proprietary software platform to balance the supply and demand of electricity across international energy grids. This new funding will allow Sympower to accelerate its growth and expand operations in 25 countries by 2025. As an investor, I’m always thrilled when a group company is able to make the jump to the next growth phase. Congratulations to Simon and the Sympower team for securing this investment round and let’s move on to our common goal: Clean Energy for Everyone."


Congratulations to Simon and the Sympower team for securing this investment round and let’s move on to our common goal: Clean Energy for Everyone. Kees Koolen, Founder & CEO, Koolen Industries

The Sympower team is ready to support more industrial and commercial projects across Europe, including demand-side loads, renewable energy production, electric vehicle charging, battery storage facilities, and more.


Founder and CEO Simon Bushell, Sympower: “Given the current uncertainty in both the financial and energy markets, we are delighted to have secured further VC investment and we welcome aboard the experienced teams of Activate and Expon. The ongoing trust and support of our current investors is also invaluable as we accelerate the expansion of our services across Europe. This will help enable the transition to a clean energy system, and assist in solving short-term problems during the current EU energy crisis.”

This (investment) will help enable the transition to a clean energy system, and assist in solving short-term problems during the current EU energy crisis. Simon Bushell, Founder & CEO, Sympower

Read the full press release via the Sympower website: https://sympower.net/sympower-funding-round