ZURICH, Switzerland, June 10, 2025 – ABB has announced a minority investment in HESStec, a company based in Spain which specializes in hybridized energy storage system (HESS) and battery energy storage system (BESS) applications. With HESStec’s hybrid energy storage technology, the partnership will drive new product optimization and market expansion opportunities for ABB in connection with the BESS-as-a-Service offering. The investment was made through ABB Electrification Ventures, and financial terms were not disclosed.
As the latest addition to ABB’s innovation ecosystem, the investment will enhance ABB’s position in the energy storage market. With its hybrid energy storage technology based on battery cells and ultracapacitors, HESStec will provide solutions that not only deliver economic and sustainability benefits to customers but also address power quality and reliability issues in commercial and industrial facilities, microgrids and islands with its grid-forming capabilities.
Stuart Thompson, president of ABB’s electrification service division said: “Our investment in HESStec expands our technological capabilities and reinforces our commitment to pioneering energy solutions. By incorporating HESStec’s hybrid storage technologies into our portfolio and combining it with our new BESS-as-a-Service offering, we’re engineering new ways for businesses to stay ahead and optimize energy use without prohibitive upfront costs. This partnership is an important step for ABB as we develop innovative business models to address the financial barriers to energy storage adoption, enabling customers to enhance resilience and establish financially-driven sustainability goals while maintaining their focus on what they do best.”
Eugenio Domínguez, CEO of HESStec said: “This investment by ABB marks a significant milestone in our growth journey. By combining ABB’s global reach and comprehensive electrification expertise with our specialized knowledge in energy storage systems, we can deliver more innovative and effective solutions to customers worldwide, helping them navigate the complexities of the energy transition. The collaboration with ABB provides us with an industrial vision, and capital committed to accelerate the deployment of solutions that will enable a stronger, more resilient and fully decarbonized grid. Moreover, we are enhancing our industrial capacity with a proprietary manufacturing plant and a one-of-a-kind megawatt-scale grid laboratory in Europe.”
ABB participated in the funding round alongside Suma Capital’s Net Zero Ventures and Verbund. Existing investors Elewit (the technology platform of the Redeia group), Redeia’s technology platform, and RIC Energy Holdings retained their positions.
This investment through ABB Electrification Ventures, the venture capital arm of ABB’s Electrification business area, is a key addition to ABB’s venture capital investments. With this partnership, ABB Electrification Ventures has invested around $85 million in 16 startups since 2021. ABB Electrification Ventures is part of ABB Ventures. Since its formation in 2009, ABB’s venture capital unit, ABB Ventures, has invested around $450 million into startups that are aligned with its electrification, robotics, automation and motion portfolio.
Source: ABB
About ABB
ABB is a global technology leader in electrification and automation, headquartered in Zürich, Switzerland, and Västerås, Sweden. Formed in 1988 through the merger of Sweden’s ASEA and Switzerland’s Brown, Boveri & Cie, the company traces its roots back to 1883. ABB operates in over 100 countries, serving industries such as utilities, transportation, infrastructure, and manufacturing. Its offerings include robotics, industrial automation, electrification products, and motion solutions. As of 2024, ABB reported revenues of approximately $33 billion and employed around 110,000 people worldwide. The company operates in over 100 countries, across Europe, Asia, the Middle East, Africa, and the Americas. ABB focuses on innovation and sustainability by investing in research and development to support the shift toward a more resource-efficient future.
About HESStec
Hybrid Energy Storage Solutions S.L. (HESStec) is a Spanish company founded in 2018 that focuses on hybrid energy storage systems and real-time energy management technologies. Originating from a decade of research, the company is headquartered in Paterna, Valencia, with an R&D center in Seville. HESStec designs, engineers, and operates battery energy storage systems (BESS) and hybrid energy storage systems (HESS) that integrate lithium-ion batteries, ultracapacitors, and proprietary control algorithms. Their solutions address energy challenges such as renewable energy integration, grid stabilization, microgrid management, electric vehicle fast-charging infrastructure, and power reliability in industrial and commercial applications. The company’s product range includes power converters, management systems, and ultracapacitor modules, alongside services covering technical design, integration, operation, and maintenance. With around 40 employees and over 20 years of experience in energy storage research, HESStec aims to provide flexible, manageable storage solutions that support the transition to sustainable energy while optimizing grid performance and economic returns.