Flower, a Stockholm-based energy technology company, recently announced the completion of a €45 million Series A funding round with an additional €20 million, bringing the total Series A funding to €45 million and cumulative investments to €100 million since its founding in 2020.
This latest round, led by European investor Northzone, is intended to support Flower’s pan-European expansion and accelerate development in battery energy storage systems (BESS) as renewable energy systems evolve across Europe.
Last month, we had also reported about a similar company called terralayr that raised €77M to build AWS of grid-scale battery storage.
What does the company do and what are their plans
Founded with the goal of transforming the post-transition energy landscape, Flower has been focusing on battery storage and AI-driven solutions to balance and optimise energy supply. Currently operational in Sweden and Denmark, the company plans to extend its reach into the DACH region, France, the Netherlands, and Belgium over the next two years, addressing regional needs for stable and flexible energy grids. Flower’s CEO, John Diklev, described 2024 as “a pivotal year” for the company, marked by several high-profile acquisitions, including Sweden’s largest battery park.
“Completing our Series A round and bringing on board some of Sweden and Europe’s leading investors…is not just a major milestone on the Flower journey, but towards the energy systems of tomorrow that we are helping to build,” Diklev said.
Flower’s Series A funding includes contributions from prominent investors, such as Giant Ventures, 82an Invest—a partnership between the Wallenberg Foundation’s FAM and 41an Invest (led by H&M CEO Karl-Johan Persson)—as well as Sony Innovation Fund. Northzone’s General Partner, Pär-Jörgen Pärson, has also joined Flower’s board, citing Flower’s “pioneering approach” to the energy grid’s AI optimisation and battery storage. He noted that Flower’s rapid growth is unusual for the energy technology sector, stating, “We have never seen such a fast-moving company.”
Battery energy storage systems as a key to grid flexibility
As Europe shifts toward renewables like wind and solar, which have intermittent production cycles, Flower’s AI-driven platform seeks to address a crucial need for stable energy storage and distribution. By implementing Battery Energy Storage Systems (BESS) directly connected to the grid, Flower offers energy storage that can store surplus energy and release it during high-demand periods. This grid flexibility alleviates congestion and contributes to a balanced energy supply—a requirement for countries transitioning away from fossil fuels.
Battery parks are becoming essential to grid operators, as they help manage production fluctuations in renewable energy. In addition to recent acquisitions, Flower activated a range of battery projects in 2024, creating the largest battery storage portfolio in Sweden. Cameron McLain, Co-founder and Managing Partner at Giant Ventures, commented that energy flexibility is “essential to building a resilient energy grid” and that Flower’s vertically integrated approach is unique.
Flower’s BESS infrastructure also offers direct support to renewable energy producers by helping them capture excess energy generated during off-peak times and deploy it when demand increases, aligning energy production with consumption. According to Antonio Avitabile, Managing Director EMEA at Sony Innovation Fund, Flower’s optimisation platform is “cutting-edge,” allowing for energy deployment when it is “most clean and affordable.”
AI-driven energy optimisation and market data integration
Flower’s technology leverages artificial intelligence to streamline and optimise energy usage, incorporating trading data from energy markets, weather forecasts, and modeling of consumer behaviors. By analysing data from energy markets where prices vary by the hour, Flower’s platform enables grid operators to anticipate fluctuations in supply and demand, mitigating the frequency volatility of renewable energy sources.
Flower’s AI capabilities help grid operators not only balance supply and demand in real time but also alleviate the pressures on grid infrastructure that can arise from increased renewable energy penetration. The platform gives operators tools to align renewable production—such as solar and wind—with periods of peak demand. This level of optimisation is particularly beneficial in a landscape where reliance on fossil fuels is decreasing, as renewable sources bring both environmental benefits and logistical challenges.
Future prospects for Flower in Europe’s renewable energy landscape
With backing from prominent European investors and a focus on expanding its portfolio across the continent, Flower aims to be a major player in the renewable energy transition. The company’s vertically integrated model, combining battery storage and AI-driven optimisation, addresses current and upcoming challenges for grid operators across Europe. Furthermore, its platform’s focus on data-driven optimisation and grid flexibility aligns with the European Union’s renewable energy goals.
While battery storage and AI-based optimization are becoming more common in the renewable energy industry, Flower’s large-scale projects and rapid expansion efforts are ambitious moves within a complex energy landscape. The company’s commitment to flexible power solutions may prove advantageous as it seeks to create a scalable and reliable infrastructure for energy distribution.
What do we think about the startup
As Flower scales its platform across Europe, its recent funding and focus on grid flexibility highlight a strategy that aligns with the energy transition needs of many European countries. By building a network of battery parks and deploying AI to streamline energy flows, Flower aims to establish itself as a cornerstone in the renewable energy sector, enabling cleaner and more resilient energy systems. With continued investment in grid-level battery storage and real-time data analytics, Flower’s approach represents a response to the evolving needs of modern energy markets, balancing innovation with the complex realities of a renewable-powered future.