Italy’s electric utility Enel and financial services provider Intesa Sanpaolo have agreed to provide Italian start-up Aton Storage with a €1.5 million investment.
The storage specialist has also signed a partnership agreement with Enel for the all-Italian offer of batteries integrated with photovoltaic systems for residential customers, the energy provider said in its statement. Aton has developed a residential battery in four different sizes specifically for Enel’s residential PV system Enel X.
The financing is part of a program launched by Enel and Intesa San Paolo a year ago to support SMEs in Italy and abroad, to which the two companies devoted around €8 million to date.
“The ecosystem of innovation and financial instruments created through the partnership between Enel and Intesa Sanpaolo has enabled Aton to accelerate and focus its innovation efforts on concrete results, thanks to an environment in which it is possible to implement industry projects and compete with major international players,” said Aton CEO, Ettore Uguzzoni.
Aton is based in Modena, northern Italy, and produces storage systems for medium-small houses, with standard energy demand, as well as for big houses or small to medium businesses, with more than 6 kW on PV power installed. On its website, the company claims its devices allow self-consumption up to 85% on an annual average, while enabling investment return within approximately six years.