Nov 29, 2022

Cactos , a Helsinki, Finland-based producer of smart energy storage systems, raised a total of €2.5M in equity and debt funding. The round was led by Superhero Capital, with participation from Cactos’s founders. The company intends to use the funds to increase energy storage unit production, production facility, and international projects. Led by Oskari Jaakkola, CEO, Cactos operates a fleet of distributed energy storage systems based on smart energy storage units and a cloud computing service. The energy storage units are made from re-used Tesla EV batteries, making them one of the market’s most environmentally friendly energy storage units. They also provide anend-of-life solution for the electrification of transport and the promotion of a circular economy. The EV battery modules are disassembled, inspected and tested at the Cactos factory in Muhos, Finland, and are converted into 100kWh energy storage units by a team of Cactos experts. The algorithmic-based cloud computing service, Cactos Spine, controls and optimises the fleet of energy storage units. This enables consistent energy supply through usage peaks or blackouts, as well as optimisation that maximises the benefit of lower electricity prices. In addition, the energy storage units provide stability to the transmission grid by balancing supply and demand. When there is a shortage of electricity, the units automatically discharge energy into the grid, and if there is excess production, the units absorb energy. Cactos can also help businesses with new and changing demands for their connection size. Today, less than a year after the incorporation, the company has operational units across Finland. With its current production operating at maximum capacity, the company will more than double its factory size in early 2023, allowing for nearly a 10-fold increase in unit production. Cactos has started partnerships with big organisations in Finland, such as Oomi, one of the largest electricity retailers in Finland, with over 400,000 customers, and Helsinki City Housing Company (Heka Oy) – Finland’s largest residential property owner with over 50,000 apartments. FinSMEs