Stella Futura has secured a large investment from Profura Utveckling AB to become one of the country's largest battery owners and strengthen Swedish self-sufficiency in electricity. The deal also involves the development of unique financing solutions linked to Battery-as-a-Service.
Energy is a security issue and the supply of electricity is the foundation for sustainable social development.
Sweden is urbanizing and electrifying rapidly, with a constant increasing load on the power grid. Batteries play a very important role for several reasons.
The Swedish energy market is now facing three major challenges that will impact national growth as well as the construction of infrastructure and communities going forward. Batteries have a crucial significance in:
1. Power shortage. There is not enough electricity available at certain times of the day. Power shortage is also the reason why power has become an economic issue. Running power-intensive operations will become very costly in the future.
2. Network capacity shortage. This means that even if we produce more electricity than we use in Sweden, it needs to be transferred to where it is actually needed.
3. Power quality issues. As more unpredictable energy sources such as wind and solar power become part of the Swedish energy mix, Sweden is now facing the challenge of maintaining good power quality and balance in the power grid.
Batteries and expertise in system integration are therefore a crucial part of the solution to these challenges.
BaaS / Battery-as-a-service
Stella Futura has many years of expertise in stationary battery systems and now also offers unique financing solutions to accelerate the construction of a secure electricity system in our country. Stella Futura's customers can choose between buying and renting batteries from the company. The batteries not only ensure the customers' need for a robust and cost-effective energy solution by reducing the increasingly expensive power peaks and providing electricity when there is a power shortage in the grid. The batteries also offer customers an opportunity for income by participating in the new balance market created by the Swedish transmission system operator (TSO) Svenska kraftnät to maintain power quality.
"With this investment, we become one of the largest players in stationary energy storage in Sweden. From now on, we will not only deliver market-leading battery systems, but also be able to offer our clients financial solutions that enable a significant acceleration of the deployment of our battery systems. We can now contribute on a large scale to securing electricity and power supply.", concludes Ulrika Tornerefelt, founder and CEO of Stella Futura.
Stella's market-leading battery solutions make it possible to better utilize intermittent energy sources such as solar and wind, where availability is weather-dependent. By creating business models that make battery transactions attractive to different types of end customers, Stella Futura aims to become Sweden's leading battery integrator and battery owner.
"Stella Futura will both contribute to electrifying our own group and drive the green transition in Swedish industry. Using Stella Futura's services is the right thing to do right now. Business leaders in all industries should take action now to take control of their electricity costs, especially in light of the fee increases that will come with the new power tariffs next year," says Daniel Månsson, CEO and Investment Manager at Profura Utveckling AB.
Profura Group's investment in Stella Futura means that the company can now expand its offering in the sale and leasing of batteries, among other things, by offering the solution on a larger scale. Profura Group also becomes the new owner of 51% of Stella Futura.
Contact:
Ulrika Tornerefelt Founder and CEO, Stella Futura
ulrika.tornerefelt@stellafutura.com
+46 701 659 658
About Stella Futura
Stella Futura was founded in 2018 and is today one of Sweden's leading experts in energy storage and energy systems. The company offers system design, integration, and commissioning of battery systems, as well as financial solutions related to them. Stella Futura's services enable clients to gain better control over their electricity costs while also providing a new source of income through balance services related to battery systems.
About Profura Group
Profura Group is a privately owned investment company based in Gothenburg that invests across industries, with a focus on long-term ownership. Profura Group primarily invests in unlisted Swedish companies. The investment activities have three focuses – Industry, Development, and Real Estate. The business was started by Bernt Ivarsson in the early 70s. In 2004, Profura Group was founded in its current form and the business became solely focused on investments. Today, the group has a wide range of activities, with investments in areas such as food, building manufacturing, workshop, timber products, and property management.
