A consortium of investors led a financing round in HESStec.

A consortium of investors, including VERBUND X Ventures, ABB, Suma Capital, Elewit, and RIC Energy, led a financing round in HESStec, a developer of energy storage and smart grid management. Financial terms were not disclosed. “With our investment in HESStec, we are focusing on a key technology that is essential for a climate-neutral, resilient, and flexible electricity system. In doing so, we are not only supporting a promising company, but also the structural transformation towards a sustainable energy future in Europe,” Michael Strugl, VERBUND AG CEO.