iwell Secures €27 Million to Mitigate Grid Congestion Internationally
Utrecht, Tuesday, 29 April 2025.
Utrecht-based iwell raised €27 million to expand its battery technology aimed at easing grid congestion. This funding will support growth in Germany and the UK, enhancing energy sustainability.
Strategic Investment for Growth
The investment round was led by Meridiam, with significant participation from Invest-NL, Rabobank, and existing shareholders [1]. Founded in 2016 and based in Utrecht, Netherlands, iwell has demonstrated remarkable growth, achieving profitability in 2023 with a turnover of €20 million and approximately 80 employees [1][2].
Technology and Market Position
iwell’s technology focuses on developing battery systems and sophisticated energy management software that helps smooth out peaks and troughs in electricity demand [1]. Operating in a competitive landscape with 43 active competitors [2], the company has distinguished itself through its innovative approach to grid congestion solutions, a pressing challenge in the renewable energy sector [1].
International Expansion Plans
The timing of this funding round aligns strategically with the upcoming Smarter E Europe 2025 trade fair in Munich, scheduled for May 6-9, where iwell will showcase its latest innovations in energy storage and management systems [3]. The company’s expansion into Germany and the UK represents a significant step in addressing broader European grid congestion challenges [1].
Market Context and Future Outlook
The investment comes at a crucial time when energy storage solutions are gaining increasing importance in the sustainable energy transition. This is evidenced by major industry players like Montea investing €50 million in Energy Storage Systems totaling 100 MWh [4]. The funding positions iwell to capitalize on this growing market demand while contributing to grid stability and energy sustainability across European markets [1].