Slovakia-based FUERGY, a highly-scalable energy storage solution and AI-powered software platform for smart energy management systems, announced that it has raised €16M in a fresh round of funding.
The financing came from Pro Partners Holding investment group.
Pro Partners has operations throughout Central and Eastern Europe, particularly in the finance, real estate, and private equity industries.
FUERGY claims to be a pioneer in automated and highly predictive energy systems that manage energy production and consumption while minimizing costs and maximizing the usage of energy resources, particularly renewable ones.
The company was founded in 2018 by Radoslav Stompf, Rastislav Kuba, Tomas Demcak, Branislav Safarik, and Vladimir Miskovsky.
FUERGY installed its first high-capacity battery storage in Slovakia in 2020.
While doing business with the energy provider Slovenské elektrárne – energetické služby, FUERGY has already installed more than 7 MWh of intelligent battery storage systems.
FUERGY says it will use the funds in making a new green investment product out of its smart battery storage brAIn and make it more affordable for a wider group of customers. “We believe that this investment will help us deliver on our mission to accelerate the transition to cleaner, cheaper, and decentralized energy.”
The company has also developed FUERGY Control units and other hardware components that are a part of its brAIn systems.
FUERGY mentions it has more similar items in its pipeline that are progressing further along every day.
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