HESStec raises €2.3 million to boost energy storage solutions


HESStec reaches this new stage thanks to the support of leading companies in the energy sector: Elewit, the technology platform of the Red Eléctrica Group; Quantum, a corporate venturing vehicle of Capital Energy, and RIC Energy, a renewable project developer. The boost received from these new investors will ensure the company's financing to guarantee robust and sustainable business development and growth. It is also an opportunity to take advantage of the synergies between the partners that have supported this initiative.

HESStec is energy management and energy storage solution provider, based on proprietary and patented hardware and software technologies for the optimization and monetization of energy storage. HESStec is based in Valencia and Seville, where the company has its corporate office and technological center, respectively. The company will inaugurate next month its advanced grid laboratory in Valencia, as part of its growth and development strategies. Likewise, in the next 15 months, HESStec plans to double its human force with the incorporation of new highly qualified professionals.

“The goal of supporting the energy transition towards a more sustainable and eco-friendly world is embedded in the HESStec DNA. The development of efficient and cost-effective energy storage solutions, both in their design and operation, will enable a new generation of power grids with a higher penetration of renewable sources and more optimized use of solar and wind resources,” says Eugenio Dominguez, CEO, and founder of HESStec.

“The investment in HESStec supports the main strategy of the Red Eléctrica Group, which reinforces the role of the TSO as a driver of the energy transition towards a more decarbonized and sustainable power grid, through the integration of renewables sources along with enabling technologies that will help us to provide flexibility and manageability to the electrical grid. This will allow us to explore the full potential of energy storage systems to ensure the robustness and grid quality in scenarios with a high penetration of renewable generation sources, both from the perspective of the storage systems, that could be an integrated part of the transmission grid, as well as to meet the requirements of the system operator for those storage facilities, stand-alone or in combination with the generation, connected to the transmission grid, underpinning a safe and efficient emission-free model,” says Silvia Bruno, director of Elewit.

Erika Escolar, Director of Corporate Venture at Capital Energy, points out that “at Capital Energy we work with the firm determination of boosting our economy and society, contributing to the creation of a new energy model where storage solutions play a key role for the efficient integration of our large renewable platform in the electricity sector, and allow us to offer a quality service as a competitive, digital, sustainable and reliable supplier to our end customers. In Capital Energy Quantum we believe that the investment in HESStec responds to this purpose, and also contributes to our goal of creating a portfolio of EnergyTech startups with the potential to transform the energy sector”.

“The current energy market shows a clear trend towards electrification and a significant increase of the integration of renewable energy sources with intermittent and unmanageable generation profiles. Given this context, it is becoming increasingly necessary to provide system resilience to maintain the quality of service. That ability to move the energy generated in short periods of time can be provided by intelligently controlled storage systems, and that is where we are confident that HESStec has a lot to say,” says José Luis Moya, CEO, and founder of RIC Energy.

HESStec, a cutting-edge actor in the Energy transition

The actual energy transition is causing the birth of new grid assets and energy models that, in turn, imply the need for enabling technologies, such as energy storage, that provide flexibility and manageability to grid operators and promote greater efficiency of their assets, both operationally and economically. In this way, energy storage and control and management systems will enable to take advantage of existing grid infrastructures, reducing the investment and environmental impact involved in the deployment of new lines, as well as enabling the cost-effective integration of electric vehicles. These enabling technologies will boost the integration of new energy vectors such as hydrogen, turning them into a feasible reality.

Thus, HESStec offers turnkey energy storage solutions (SHAD®) and grid asset management and optimization systems (InMS™), applied to a wide variety of scenarios: integration of renewables; utility-grade applications; support for electric vehicles and multiple applications for microgrids, both isolated and connected. “HESStec's smart solutions, with energy storage as a key element, will enable this transition to a cleaner energy model and a more environmentally responsible world,” adds Dominguez.

The hybridization of different energy storage technologies in the same solution, as well as the integration of control algorithms and operation and degradation models of grid assets, allows HESStec to offer solutions with significant reductions, both Capex and Opex while increasing the profitability of energy storage by expanding the portfolio of grid services.