ICG to invest €500m in W Power Storage.

ICG, an asset management and private equity firm, agreed to invest €500m in W Power Storage, a German platform specialising in grid-scale battery energy storage systems. "We are delighted to announce our newly formed partnership with W Power. Battery storage is a key pillar of the energy transition, underpinning grid stability, supply security and the integration of renewable energy. W Power has proven development and execution capabilities, a robust pipeline of existing opportunities and strong growth potential. We look forward to working with the management team and our co-shareholders to help accelerate the Company’s next phase of growth and establish it as a leading Independent Flexibility Provider," Frank Heiss, ICG Managing Director, European Infrastructure/