ABB takes minority stake in Spain’s HESStec

ABB has acquired a strategic minority share in Spanish start‑up HESStec, aiming to fold the firm’s hybridised energy‑storage technology into its own battery energy storage system portfolio and newly-launched BESS‑as‑a‑Service model.

Founded in 2018 and employing 40 people, HESStec designs and operates hybrid storage solutions that marry battery cells with ultracapacitors, a combination that it says can smooth power quality and improve reliability for commercial and industrial sites, microgrids and island systems.

ABB, which is already pushing service‑based storage offers for customers wary of large capital outlays, says HESStec’s hardware will help it optimise products for applications such as EV fast‑charging, peak shaving and renewable energy integration.

Stuart Thompson, President of ABB’s Electrification Service, noted, “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 optimise 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.”

HESStec Chief Executive Eugenio Domínguez welcomed the backing, which comes alongside funding from climate‑tech investors Suma Capital (Net Zero Ventures) and Verbund, and the continued support of existing shareholders Elewit and RIC Energy.

“This investment by ABB marks a significant milestone in our growth journey. By combining ABB's global reach and comprehensive electrification expertise with our specialised 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,” he commented. 

“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 decarbonised 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.”

Just the latest investment from ABB Electrification Ventures

The investment is part of ABB Electrification Ventures, which has now invested roughly $85 million in 16 start‑ups since 2021, part of a wider ABB Ventures programme that has channelled around $450 million into early‑stage companies aligned with the group’s electrification, automation and motion businesses. The value of the funding ABB has given HESStec is undisclosed, however.