ABB has announced a strategic minority investment in Spain-based HESStec, a company specializing in hybrid and battery energy storage solutions. This investment, made through ABB Electrification Ventures, aims to boost ABB’s capabilities in energy storage technologies and enhance their recently launched BESS-as-a-Service offering. The financial details of the deal were not disclosed.
This move strengthens ABB’s position in the rapidly expanding energy storage market. HESStec’s hybrid storage technology, which combines battery cells and ultracapacitors, offers solutions that not only support economic and sustainability goals but also address power reliability and quality issues across commercial, industrial, microgrid, and island-based applications.
Stuart Thompson, President of ABB Electrification Services, commented, “Our investment in HESStec expands our technology base and aligns with our commitment to advancing energy solutions. By integrating HESStec’s hybrid storage systems into our portfolio, we’re creating more cost-effective ways for businesses to optimize energy usage and enhance sustainability without upfront financial barriers.”
Founded in 2018, HESStec has a team of 40 employees and focuses on the design, engineering, and operation of both battery and hybrid energy storage systems. The company’s solutions address a variety of energy challenges, including EV fast-charging infrastructure, peak load management for commercial buildings, power reliability for manufacturing, and the integration of renewable energy for industrial sites.
HESStec CEO, Eugenio Domínguez, said, “This partnership with ABB is a major step forward in our growth. By leveraging ABB’s global reach and expertise, combined with our innovative energy storage solutions, we can help customers worldwide navigate the complexities of the energy transition. This collaboration also supports our expansion with new industrial capabilities, including a proprietary manufacturing facility and a unique megawatt-scale grid laboratory in Europe.”
Other investors in this funding round include Suma Capital, Verbund, Elewit, and RIC Energy Holdings. ABB’s investment is part of its broader strategy to develop an ecosystem of innovative partners within its Electrification Ventures division. Since 2021, ABB Electrification Ventures has invested $85 million in 16 startups, contributing to ABB’s broader efforts in promoting productivity, efficiency, and sustainability through strategic partnerships.
ABB, a global leader in electrification and automation, has been at the forefront of innovation for over 140 years. The company’s portfolio spans various sectors, helping industries optimize their performance while improving sustainability. ABB’s shares are listed on the SIX Swiss Exchange (ABBN) and Nasdaq Stockholm (ABB).
Founded in 2018, HESStec delivers innovative energy storage solutions using its proprietary hybrid systems. The company’s products optimize grid and energy storage applications, support renewable energy integration, and enhance electric vehicle infrastructure. HESStec’s mission is to facilitate a sustainable energy future through flexible and efficient storage systems that provide both economic and operational benefits to the energy grid.
