Bridges Fund Management, a specialist sustainable and impact investor that has investment in property and the built environment, has acquired a stake in Hycube Technologies, a European company that provides a decentralised energy storage system to homeowners, as part of its growth strategy.
Founded in 2014, Hycube says it lets customers cut their grid electricity consumption by 80-90% through a combined offering of solar panels, proprietary high-tech battery storage; an electric vehicle wallbox; and proprietary smart home energy management softward; among other things.
The company is already worth almost €5 bn in Germany alone, and early estimates suggest the business could be delivering annual carbon savings of approximately 12,000 tonnes by 2026.
Bridges is backing the existing management team, led by CEO Rainer Appold, COO Nina Appold and CTO Holger Koch.
This is Bridges‘ first investment in Germany, and the investment from Bridges Sustainable Growth Fund.
Daniel Knight, investment director, said: ‘Getting to Net Zero requires us to decarbonise domestic energy usage while generating more energy off-grid.‘
He explained Hycube met growing consumer demand for clean energy solutions that could reduce energy bills and carbon emissions.