CEO Jan Willem de Jong emphasized the critical need for energy independence and the development of clean, cost-effective energy solutions for European businesses amid rising electricity demand.

Wouter van Westenbrugge from Invest-NL highlighted iwell's role in developing a flexible energy system that supports the energy transition while ensuring affordability.

David Tuohy, Chairman of iwell's Supervisory Board, acknowledged the complexities of the energy transition and the necessity of smart storage solutions to address these challenges.

iwell, a Utrecht-based energy tech startup, has successfully raised €27 million to expand its smart battery storage solutions across Europe.

iwell collaborates with key partners in logistics and manufacturing, including a notable partnership with DAF Trucks to electrify their electric truck fleet.

Eric Rey from Meridiam expressed confidence in iwell's potential to emerge as a significant player in the European energy market, contributing to sustainability and energy independence.

The new funding will also enhance iwell's software, data analytics, and AI capabilities, ensuring the company maintains its market leadership.

The urgent need for improved energy solutions is underscored by the fact that there are 12,000 companies in the Netherlands awaiting grid connections.

The funding round was led by Meridiam's Green Impact Growth Fund and included participation from Invest-NL, Rabobank, and existing investors.

iwell already has established offices in Belgium, Germany, and the UK to support its expansion efforts and address the energy challenges in these regions.

The company specializes in modular, software-based Energy Management Systems (EMS) and Battery Energy Storage Systems (BESS) that optimize energy use by storing excess renewable energy and deploying it during peak demand.

With this new capital, iwell plans to accelerate growth in high-potential markets such as Germany and the UK, where grid congestion is becoming increasingly problematic.