Alelion Batteries AB, a Nödinge, Sweden-based small-scale energy storage company, has raised €2m in funding from IKEA GreenTech AB, the investment arm of IKEA Group.
The funds will enable the company to develop energy storage devices, which may be used for alternative energy solutions and lighting.
Last July, Alelion received investment from Fouriertransform AB (FTAB) and some of the company’s existing owners, including Pegroco Invest.
According to Christian Ehrenborg, CEO, IKEA GreenTech AB, this involvement in Alelion provides new opportunities.
“I hope that together with other partners, we can help develop Alelion to become a successful player in the small-scale energy storage market”, he said.
IKEA GreenTech focuses on investing in innovative technology companies in the small-scale solutions.