On June 5th, ABB, a global power and automation company, announced a strategic equity investment in HESTec, a Spanish energy storage company.
HESTec is a company headquartered in Spain, specializing in the application of hybrid energy storage systems (HESS) and battery energy storage systems. With HESTec’s scalable and advanced hybrid energy storage technology, this collaboration will help ABB optimize product performance and expand its market in the recently released BESS-as-a-Service product line. This investment was completed by ABB Electrification Ventures, and specific financial details have not been disclosed yet.
As the latest member of ABB’s growing innovation ecosystem, this investment will enhance ABB’s position in the rapidly growing energy storage market. With its hybrid energy storage technology based on battery cells and supercapacitors, HESTec can provide excellent solutions that not only bring economic and sustainable development benefits to customers, but also solve power quality and reliability issues in commercial and industrial facilities, microgrids, and islands through its grid connection capability.
Stuart Thompson, President of ABB’s Electrical Services Division, stated, “Our investment in HESTec has expanded our technological capabilities and strengthened our commitment to pioneering energy solutions. By incorporating HESTec’s hybrid energy storage technology into our product portfolio and combining it with our new BESS-as-a-Service product, we are creating a new way for businesses to maintain a leading position and optimize energy utilization without incurring high upfront costs. This collaboration is of great significance to ABB as we are developing innovative business models to address financial barriers in energy storage applications, enabling customers to enhance resilience and set financially driven sustainable development goals while focusing on their areas of expertise. ”
HESTec was founded in Spain in 2018 with 40 employees, focusing on the design, engineering, delivery, and operation of battery energy storage systems (BESS) and hybrid energy storage systems (HESS) based on supercapacitors and batteries. The company’s solutions aim to address key energy challenges, including fast charging infrastructure for electric vehicles, peak shaving for commercial buildings, power reliability for manufacturing, and optimized integration of renewable energy in industrial sites.
