ABB has announced a strategic minority investment in HESStec, a Spanish company specializing in hybrid energy storage solutions. Established in 2018, HESStec employs a dedicated team of 40 professionals focused on the design, engineering, delivery, and operation of Battery Energy Storage Systems (BESS) and Hybrid Energy Storage Systems (HESS). This investment signifies a pivotal moment in HESStec’s growth trajectory and aims to expand market opportunities for both companies.
HESStec’s unique approach using ultracapacitors and battery cells hybrids lead to the creation of ultrhybrid energy storage technology. This innovative platform delivers customers a host of economic benefits as well as access to clean, renewable energy. According to HESStec’s CEO, Eugenio Domínguez, this investment by ABB is a great milestone in the company growth path.
This collaboration will further optimize ABB products, with a special focus on ABB’s recently launched BESS-as-a-service offering. Connecting HESStec’s advanced hybrid storage technologies with ABB’s service model creates new opportunities for optimized energy solutions for businesses. Today, they can realize these benefits without being burdened with prohibitively expensive upfront costs. This synergy holds great potential for moving energy efficiency and sustainability initiatives further and faster within both sectors.
In addition to these near-term benefits as ABB strengthens its product and service offerings, this investment unlocks new opportunities for ABB to expand into new markets. This joint development will increase ABB’s footprint in the developing energy storage market. Further, it will position ABB as a pioneer in advanced energy management.
HESStec’s history is quite remarkable. As we wrote back then, the startup was originally established in 2009, and it is connected to ABB Ventures. Since launching in 2009, ABB Ventures has invested about $450 million in high-growth startups. This all-in level of commitment is a clear reflection of their readiness to support innovation in the energy space.
This strategic investment is a significant step forward for HESStec. Simultaneously, ABB takes a strategic step to put more wood behind its arrows in the rapidly-evolving energy storage space. With this partnership, both companies are looking to make a significant impact to drive innovation in energy management and sustainability.