Slovakia-based, FUERGY, an AI-powered software platform and highly scalable energy storage solution for smart energy management systems has raised €16 million in a new round of funding.
Pro Partners Holding Investment Group provided the funding. Pro Partners is a company with activities all across Central and Eastern Europe, specializing in the finance, real estate, and private equity sectors. Over €1.5B worth of assets are managed by the company.
Tomá Zednek, a senior partner at Pro Partners Holding, states that the innovativeness of FUERGY’s products and energy management, the complexity of the offered energy optimization solutions, as well as the high level of expertise of the company’s founders and management, were the main reasons for investing in the company.
Within the following three years, the investment will be put into practice.
To manage energy production and consumption, FUERGY claims to be a pioneer in automated and highly predictive energy systems that maximize the use of energy resources, particularly renewable ones, while minimizing expenses.
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Radoslav Stompf, Rastislav Kuba, Tomas Demcak, Branislav Safarik, and Vladimir Miskovsky formed the business in 2018.
In Slovakia in 2020, FUERGY installed its first high-capacity battery storage system. FUERGY has already deployed more than 7 MWh of sophisticated battery storage systems while conducting business with the energy supplier Slovenské elektrárne – energetické sluby.
According to a statement from FUERGY, “With our technology and unique approach to energy management, we have risen in four years to become the market leader in Slovakia for smart battery systems and flexibility, a position that will be much simpler to retain as a result of the additional investment. In light of this, we are very appreciative of Pro Partners Holding group’s confidence in us despite their little prior involvement in the energy sector.
In structures and complexes under its management, including AQUACITY Poprad, OC Laugaricio, TWIN CITY A, and STEINERKA Business Center, the company’s battery system, brAIn, will be implemented.
According to FUERGY, the funds will be used to create a new green investment product out of its smart battery storage brain and make it more accessible to a larger consumer base. “We believe that this investment will support us in achieving our goal of accelerating the shift to cleaner, more affordable, and decentralized energy,” the statement reads.
A portion of the company’s funding will go toward the development of high-capacity battery storage systems made by FUERGY, which have a payback period of two years or more. With a 15-year battery life, brAIn becomes an eco-friendly purchase that quickly pays for itself.
Customers who want to use the advantages of battery storage or its use in conjunction with photovoltaics but do not have enough free finances can do so by utilizing brAIn systems, which the company can offer under the Energy-as-a-Service model. Learn more about how brAIn operates and makes money here.
The business has also created hardware pieces for its brAIn systems, such as FUERGY Control units. FUERGY states that it has additional comparable items in its pipeline that are moving forward each day.
Shortly, FUERGY will also increase its service offerings in Poland and the Czech Republic. “We intend to grow into the V4 countries’ market leader, offering sophisticated energy solutions to all different kinds of clients, and then further extend our reach to other European nations.”
