HESStec to raise €2.3 million from Elewit

HESStec, a Sevilla, Spain-based developer of energy management systems and hybrid storage solutions, announced completing a series A investment round for €2.3 million ($2.8M).

The money was raised from investors including Elewit, the technological platform of the Red Eléctrica Group; Quantum, Capital Energy's corporate venturing vehicle, and RIC Energy, an originator specialized in the development of renewable projects.

HESStec (Hybrid Energy Storage Solutions SL), founded by CEO Eugenio Domínguez, is an integrator and provider of energy asset management systems based on proprietary and patented hardware and software technologies for the optimization and monetization of energy storage. The company offers turnkey energy storage solutions (SHAD) and network asset management and optimization systems (InMS), applied to a wide variety of scenarios: integration of renewables; applications in the distribution network (utility grade); support to the electric vehicle and multiple applications for microgrids, both isolated and connected.