Swedish energy firms secure funding for European battery storage expansion

Swedish energy companies Tavion and Rebaba have secured significant funding to expand battery storage operations across Europe.

Tavion has raised €50 million in total funding, comprising €34 million in an oversubscribed financing round led by Leitmotif and Oberon Capital, plus €16 million in debt financing. The company intends to use the capital to accelerate the construction of three battery parks in Poland with a combined capacity of 69 MW. Tavion currently holds a 184 MW portfolio in the ready-to-build stage in Poland and maintains a wider project pipeline of 1.7 GW in the country.

Rebaba has raised $4.6 million in an oversubscribed seed funding round led by Sistafund and EIT Urban Mobility. The company specializes in second-life battery energy storage systems that repurpose retired electric vehicle batteries. The funds will be used to scale operations in response to commercial demand in Sweden and Denmark, increase annual production capacity at its CircularHub to 40 MWh, and expand its workforce. Rebaba has established distribution agreements across Scandinavia, Germany, Austria, Switzerland, and France.