Read the full press release in Swedish here.
Stella Futura, one of Sweden’s foremost experts in stationary energy storage, has secured a large investment from Profura Utveckling AB to grow and become one of the largest battery owners in the country, strengthening Swedish self-sufficiency in electricity. The deal will also further develop Stella Futura’s offering of unique financing solutions linked to Battery-as-a-Service (BaaS).
Energy is a security issue and electricity supply is the core of sustainable societal development.
Sweden is being urbanized and electrified at a rapid pace, with a constantly increasing load on the electricity grid as a result. Batteries fulfill a very important function in this paradigm shift for several reasons.
The Swedish energy market now faces three major challenges that will affect national growth and infrastructure development:
1. Lack of power. There is not enough electricity available at certain times of the day. This electricity shortage has become an economic issue and running power-heavy businesses will become even more costly in the near future.
2. Lack of network capacity. Although we produce more electricity than we use in Sweden, it needs to be able to be transferred to where it is actually needed.
3. Electricity quality issues. When more and more unpredictable energy sources such as wind and solar power become part of the Swedish energy mix, Sweden now faces the challenge of maintaining good electricity quality and balance in the electricity grid.
BaaS / Battery-as-a-service
Batteries and system integration competence are crucial parts of the solution to these challenges.
Stella Futura has many years of expertise in stationary battery systems and now also offers unique financing solutions to accelerate the construction of a safe electricity infrastructure in our country. Stella Futura’s customers can choose between buying or renting batteries from the company. The batteries not only meet customers’ need for a robust and cost-effective energy solution, but also cut increasingly costly power peaks and make electricity available when there is a shortage of electricity in the grid. In addition, the batteries present customers with an opportunity to receive revenue by allowing them to participate in the new balance market that Svenska Kraftnät has created to maintain electricity quality.
“With this investment, we will be one of Sweden’s largest players in stationary energy storage. From now on, we will not only deliver market-leading battery systems, but also be able to offer our customers financial solutions that enable a sharp acceleration of the roll-out of our battery systems. We will, on a large scale, contribute to efforts to secure electricity and power supply,” says Ulrika Tornerefelt, founder and CEO, Stella Futura.
Stella Futura’s market-leading battery solutions provide the opportunity to make better use of intermittent types of energy such as solar and wind where availability is dependent on weather. By creating business models that make the battery business 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 of companies and at the same time drive the green transition in Swedish industry. Using Stella Futura’s services is the only right thing to do. Business leaders in all industries should act now to take control of their electricity costs, not least in view of the fee increases that will come with the new power tariffs next year,” says Daniel Månsson, CEO and investment manager, Profura Utveckling AB.
The Profura Group’s investment in Stella Futura means that the company can grow its offering in sales, leasing of batteries and Battery-as-a-service by offering the solution on a larger scale. The Profura group will also become the owner of 51% in 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 connected to the technical offering. Stella Futura’s services mean that customers have better control over their electricity costs while enabling a new source of revenue via balance services connected to the battery systems.
About the Profura Group
Profuragruppen is a privately owned Gothenburg-based investment company that invests industry-independent, with a focus on long-term co-ownership. The Profura Group mainly invests in Swedish unlisted companies. The investment business has three specializations – Industry, Development and Real Estate. The business was started by Bernt Ivarsson in the early 70s. In 2004, the Profura Group itself was founded in its current form and the business was given a purely investment focus. Today, the Group has a wide range of operations, with investments in, among others, food, house manufacturing, workshops, wood products and property management.
“With this investment, we will be one of Sweden’s largest players in stationary energy storage. From now on, we will not only deliver market-leading battery systems, but also be able to offer our customers financial solutions that enable a sharp acceleration of the roll-out of our battery systems. We will, on a large scale, contribute to efforts to secure electricity and power supply,” says Ulrika Tornerefelt, founder and CEO, Stella Futura.
“Stella Futura will both contribute to electrifying our own group of companies and at the same time drive the green transition in Swedish industry. Using Stella Futura’s services is the only right thing to do. Business leaders in all industries should act now to take control of their electricity costs, not least in view of the fee increases that will come with the new power tariffs next year,” says Daniel Månsson, CEO and investment manager, Profura Utveckling AB.
