With Sympower’s acquisition of Flextools, Customers and partners gain a broader, tailorable offer of scalable flexibility solutions.
As Sympower’s first acquisition, Flextools technology and employees will help respond to the growing demand for advanced and mature flexibility solutions across the Nordics and throughout Europe. Customers will gain faster energy market access and the option to leverage Sympower’s energy trading services or manage trading independently through Flextool’s SaaS platform.
Combining expertise to accelerate Europe’s energy transition
Through this acquisition, Sympower and Flextools will unite their industry expertise, technologies, and teams to better serve their extensive portfolio spanning the Nordics, Greece, and the Netherlands. Sympower adds 250 MW to its portfolio and 19 employees to its team.
Sympower’s platform provides demand response services to commercial and industrial businesses, enabling them to earn revenue to balance the grid by temporarily adjusting the consumption of their energy-intensive equipment. Flextools’ Software-as-a-Service (SaaS) platform provides battery (BESS) owners, asset owners and energy companies with software and hardware to manage and offer balancing services independently. Flextools’ platform can also be applied to demand-side assets and renewable power generation.
“I know Flextools is in good hands with Sympower,” affirmed Victoria Fearnley Landmark, Flextools’ CEO. “In addition to our joint offer, we saw great synergies from the beginning in terms of values and mission, and I’m looking forward to our teams working together to deliver the best flexibility solutions on the market. We will have more capacity and investment for greater innovation and market opportunities. I’m also looking forward to expanding our footprint outside the Nordics, given what Sympower has already achieved in the Netherlands and Greece.”
“We believe that the challenges inherent to the energy transition can be tackled more effectively by strong pan-European players”, explained Simon Bushell, CEO and founder of Sympower. “Europe’s energy transition needs flexibility solutions that optimise portfolios of consumption, production and storage assets across all value streams. Flextools’ and Sympower’s offerings complement each other, and we are impressed by their track record in Norway and Sweden, and the significant steps they have made on BESS and renewable energy services. Not only do we inherit a strong portfolio of solutions, but also the deep industry knowledge and experience that Flextools brings. We are better equipped than ever to deliver exceptional value to our customers and partners while supporting Europe’s energy transition”.
Customers and partners will gain a broader, tailorable offer of secure and scalable flexibility solutions, covering consumption, storage, and renewable production assets. They will also be able to access more energy markets quicker and choose to let Sympower handle the energy trading or do it themselves.
Looking ahead: a unified offer and new partners
Sympower’s and Flextools’ teams will start working together from day one to develop synergies and ways of increasing customer value. This alignment will ensure continuity for existing customers and partners, who will already be able to benefit from the expanded solution portfolio, and strengthen the companies’ ability to deliver their solutions. Sympower’s leadership will work closely with Flextools’ teams to integrate operations and streamline services.
“Our goal is to create a unified offering serving different customer preferences. We’re very happy to be able to bring the Flextools’ employees on board, and look forward to having our teams working together and benefiting from each other’s technology and experience”, added Bushell.
Flextools’ previous owner Å Energi, is pleased with finding an experienced partner for Flextools in Sympower.
“We are proud of what we have achieved together with Flextools, building the company from 2017 to the Nordic flexibility technology provider it is today. We are positive that Sympower will provide the right environment for Flextools to develop even further”, said Atle Knudsen, Executive Vice President, Customer and Energy solutions at Å Energi.
