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Thursday, May 23, 2024

Sweden’s energy storage startup Ligna Energy raised 1.3 million euros

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Norrköping-based large-scale energy storage technology developer Ligna Energy reached €10M value after its closure of the last investment round at €1.3 million, with the participation of new investors alongside the existing ones. The company provides climate-friendly, cost-efficient, and renewable energy solutions. The funding will feed the company’s development and launching of its first energy storage product called S-Power.

Ligna Energy closes a new €1.3M financing round

The company, led by CEO Peter Ringstad, was formed in 2017 to develop an energy storage-solution based on renewable and cost-efficient materials from forest resources. The unique material technology comes from many years of research at the Laboratory of Organic Electronics (LOE), Linköping University. Their progress in the field recently rewarded them with a win in the Startup 4 Climate challenge, the biggest energy innovation challenge in northern Europe. Proclaiming them one of the most prominent climate innovations in the region.

Ligna Energy

After a period of intensive media coverage for the company, Ligna Energy announces the closing of a successful investment round. The round was aimed at supporting the company’s next phase of production development, as well as the launch of their first energy storage product, the ‘S-Power’.

The investment round consisted of both new and existing investors, where Klimatet Invest AB played a significant role by their own contribution and by attracting partner investors. Prior to this financing round, Ligna Energy has raised €2.5M through equity and grants. As a result, Ligna Energy is currently worth around €10M based on the investment post-valuation. The real value is embedded in the immense potential in technology and subsequent products on a continuously growing market of digitalization, electrification, and transitioning of the energy system.

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Nurcin Metingil
Nurcin Metingil
A permanent student, a passionate first reader and nowadays doing master’s degree in Publishing Management. Beside these, I am up for games! I have been playing games since I was 6. Now, I am whispering "Business. Business. Numbers. Is this working?"

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