Finnish Climate Fund
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Helsinki-based startup Cactos secures over €26M for BESS investment
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.