Belgian firm Octave.energy raises €10 million to expand battery storage solutions across Europe
Mechelen-based cleantech company Octave.energy has secured €10 million in Series A funding to scale its battery storage and energy management solutions across Europe. The company has been profitable for three consecutive years.
Octave.energy, a cleantech startup based in Mechelen, Belgium, has closed a Series A funding round of €10 million, combining equity and flexible debt financing. The round was led by SPDG Growth, a family office that has backed the company since its Seed round, with participation from imec.istart, BNP Paribas Fortis and KBC.
Founded in 2020, Octave.energy builds battery energy storage systems (BESS) for industrial clients, small and medium-sized businesses, and the agricultural sector. The company began by developing and manufacturing its own circular battery storage system with integrated control and monitoring. It now focuses on first-life LFP battery systems, offering customers fully integrated batteries paired with its own energy management system (EMS).
Addressing grid congestion
According to the company, electrification across Europe is outpacing the growth of grid capacity, leading to congestion, volatile electricity prices, and constraints on businesses looking to electrify or expand operations. Octave.energy's combined BESS and EMS approach helps clients make better use of their solar energy, cut peak consumption, manage EV charging, gain extra power access in grid-constrained regions, and tap into energy market flexibility.
Since its founding, the company has deployed battery systems totalling more than 200 MWh of storage capacity and has served over 400 businesses, including Colruyt Group, McDonald's, Eneco, Naturgy and Nextensa. Octave.energy has been profitable for three consecutive years, reporting €16 million in revenue for 2025.
The new funding will go toward expanding local sales and operations teams in the Netherlands, France and Germany, alongside continued growth through its network of installation partners. The company already has operational projects in Luxembourg, the Netherlands and Spain. Part of the investment will also support further development of its EMS and asset management platforms.
