Jun 6, 2025
ABB reveals a strategic minority investment in HESStec, based in Spain.
ABB has made a strategic minority investment in HESStec, a Spanish company specializing in hybridized energy storage systems (HESS) and battery energy storage systems (BESS). This investment was made through ABB Electrification Ventures, although financial details have not been revealed.
The collaboration aims to leverage HESStec’s scalable hybrid energy storage technology to improve product optimization and create new market opportunities for ABB, particularly in relation to their newly launched BESS-as-a-service offering.
ABB joined the funding round with Suma Capital, which is investing from its climate tech fund, along with Net Zero Ventures and Verbund. Current investors Elewit and RIC Energy Holdings also took part.
This investment solidifies ABB's presence in the energy storage market. HESStec’s hybrid technology, which integrates battery cells and ultracapacitors, provides cost-effective and sustainable solutions for customers, addressing power quality and reliability issues in commercial, industrial settings, microgrids, and island systems through its grid-forming capabilities.
Founded in 2018, HESStec employs 40 people and specializes in the design, engineering, delivery, and operation of BESS and HESS, utilizing ultracapacitors and battery cells. The company addresses critical energy challenges, including fast-charging infrastructure for electric vehicles, peak shaving for commercial buildings, ensuring power reliability for manufacturing, and optimizing renewable energy integration at industrial sites.
HESStec CEO Eugenio Domínguez commented on the investment, viewing it as a pivotal moment for their growth. The partnership with ABB offers industrial vision and funding to speed up the deployment of solutions for a more resilient and fully decarbonized grid, while also enhancing their industrial capacity with a unique manufacturing plant and megawatt-scale grid laboratory in Europe.
Since 2021, ABB Electrification Ventures has invested $85 million in 16 startups. Since its establishment in 2009, ABB Ventures has invested around $450 million in startups focusing on electrification, robotics, automation, and motion.
Stuart Thompson, president of ABB’s Electrification Service division, noted that the investment in HESStec expands their technological capabilities and reinforces their dedication to innovative energy solutions. By integrating HESStec’s hybrid storage technologies with their BESS-as-a-service offering, they aim to help businesses optimize energy use without high upfront costs.
Thompson added that this partnership is crucial for ABB as they develop business models to overcome financial barriers to energy storage adoption, allowing customers to enhance resilience and achieve sustainability goals while focusing on their core competencies.
In March 2025, ABB announced plans for a $120 million investment to expand its low-voltage electrification product manufacturing in the US.
The collaboration aims to leverage HESStec’s scalable hybrid energy storage technology to improve product optimization and create new market opportunities for ABB, particularly in relation to their newly launched BESS-as-a-service offering.
ABB joined the funding round with Suma Capital, which is investing from its climate tech fund, along with Net Zero Ventures and Verbund. Current investors Elewit and RIC Energy Holdings also took part.
This investment solidifies ABB's presence in the energy storage market. HESStec’s hybrid technology, which integrates battery cells and ultracapacitors, provides cost-effective and sustainable solutions for customers, addressing power quality and reliability issues in commercial, industrial settings, microgrids, and island systems through its grid-forming capabilities.
Founded in 2018, HESStec employs 40 people and specializes in the design, engineering, delivery, and operation of BESS and HESS, utilizing ultracapacitors and battery cells. The company addresses critical energy challenges, including fast-charging infrastructure for electric vehicles, peak shaving for commercial buildings, ensuring power reliability for manufacturing, and optimizing renewable energy integration at industrial sites.
HESStec CEO Eugenio Domínguez commented on the investment, viewing it as a pivotal moment for their growth. The partnership with ABB offers industrial vision and funding to speed up the deployment of solutions for a more resilient and fully decarbonized grid, while also enhancing their industrial capacity with a unique manufacturing plant and megawatt-scale grid laboratory in Europe.
Since 2021, ABB Electrification Ventures has invested $85 million in 16 startups. Since its establishment in 2009, ABB Ventures has invested around $450 million in startups focusing on electrification, robotics, automation, and motion.
Stuart Thompson, president of ABB’s Electrification Service division, noted that the investment in HESStec expands their technological capabilities and reinforces their dedication to innovative energy solutions. By integrating HESStec’s hybrid storage technologies with their BESS-as-a-service offering, they aim to help businesses optimize energy use without high upfront costs.
Thompson added that this partnership is crucial for ABB as they develop business models to overcome financial barriers to energy storage adoption, allowing customers to enhance resilience and achieve sustainability goals while focusing on their core competencies.
In March 2025, ABB announced plans for a $120 million investment to expand its low-voltage electrification product manufacturing in the US.