ABB announces strategic minority investment in Spain-based HESStec

ABB has made a strategic minority investment in HESStec, a Spain-based company involved in hybridised energy storage systems (HESS) and battery energy storage systems (BESS) applications.

The investment was executed through ABB Electrification Ventures.

Financial terms have not been disclosed.

Through HESStec’s scaleable hybrid energy storage technology, the partnership will enhance product optimisation and create new market expansion opportunities for ABB, particularly in relation to the recently launched BESS-as-a-service offering.

ABB took part in the funding round alongside Suma Capital, which is contributing through its climate tech fund, Net Zero Ventures and Verbund. Existing investors Elewit and RIC Energy Holdings also participated.

The investment strengthens ABB’s foothold in the energy storage market.

HESStec’s hybrid energy storage technology, which combines battery cells and ultracapacitors, offers solutions that provide both economic and sustainability advantages to customers.

It tackles power quality and reliability challenges in commercial and industrial facilities, microgrids and island systems through its grid-forming capabilities.

Established in 2018, HESStec has a team of 40 employees and focuses on the design, engineering, delivery and operation of BESS and HESS, utilising ultracapacitors and battery cells.

The company’s solutions tackle essential energy challenges, such as fast-charging infrastructure for electric vehicles, peak shaving for commercial buildings, ensuring power reliability for manufacturing and optimising the integration of renewable energy at industrial sites.

HESStec CEO Eugenio Domínguez stated: “This investment by ABB marks a significant milestone in our growth journey. 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.”

With this partnership, ABB Electrification Ventures has invested $85m in 16 startups since 2021.

Since its inception in 2009, ABB Ventures has allocated around $450m to startups that align with its focus on electrification, robotics, automation and motion.

ABB’s Electrification Service division president Stuart Thompson stated: “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 them 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.”

In March 2025, ABB announced plans to invest $120m to expand its low-voltage electrification product manufacturing in the US.