Herbst Kinsky advises Statkraft Ventures and Junction Growth Investors on their investment in the Graz based battery storage startup EET – Efficient Energy Technology GmbH (EET) in the course of its EUR 6.5 million Series A financing round
Herbst Kinsky advised Statkraft Ventures (Norway) as lead investor alongside Junction Growth Investors (Belgium) in the course of EET’s Series A financing round. The Green Fortress Group has also joined EET as a new investor.
The fresh capital will be used to further implement the expansion strategy. In addition to Germany, France and Italy, the market is also to be opened up in Spain and Portugal in particular.
Statkraft Ventures is the venture capital unit of Europe’s largest renewable energy producer with an investment focus on climate tech and energy transition in Europe and North America.
Junction Growth Investors is a sustainable investment fund focused on European SMEs and scale-ups that play a critical role in the energy transition.
Founded in 2017 as a spin-off from University of Technology, Graz, the startup specialises in the production of small-scale solar power plants with integrated battery storage and offers a ready-to-plug-in system for one’s own balcony with its “SolMate” product. The company currently has around 70 employees, produces up to 1.000 systems per month and is now aiming to expand into the Southern European market.