Assembly Line

Helsinki-based startup Cactos secures over €26M for BESS investment

📅 Date:

🔖 Topics: Funding Event

🏢 Organizations: Cactos, OP Finland Infrastructure, Finnish Climate Fund

Cactos, a Helsinki-based battery energy storage systems (BESS) startup has raised over €26 million in equity capital as part of a larger €70 million investment project. Led by OP Finland Infrastructure LP and the Finnish Climate Fund, technically speaking, Cactos hasn’t raised anything at all, but rather, its EU Taxonomy Regulation (SFDR) Article 8 investment company, Cactos Fleet Finland LP has garnered the capital.

Announced just four months ago, Cactos Fleet Finland LP is the startup’s dedicated, pure-play battery energy storage investment fund, and is aiming to raise €70 million, with a 50/50 split of equity and debt funding. The €70 million will be invested in smart energy storage units over approximately two and a half years and with an expected operational period of approximately ten years.

Read more at Tech EU