Photoncycle Secures €15M Series A Funding for Seasonal Energy Storage Solutions in Europe
Norwegian energy storage company Photoncycle has raised €15 million in Series A funding to develop its solid-state hydrogen-based storage system. This funding, led by NordicNinja and Voima Ventures, will support commercialization efforts in Denmark and the Netherlands, aiming to address Europe's winter energy gap by enabling households to store surplus summer solar energy. The proposed 1.4 TWh facility could provide storage for 140,000 homes, reducing reliance on imported gas and enhancing energy independence.
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Photoncycle, based in Norway, has raised €15 million in Series A funding to develop a solid-state hydrogen energy storage system aimed at addressing Europe's seasonal energy challenges. The funding round was led by NordicNinja and Voima Ventures, with participation from existing investors.
Photoncycle's technology converts surplus summer solar energy into solid-state hydrogen, allowing households to access clean energy during winter. The proposed 1.4 TWh facility can support energy storage for 140,000 homes.
The company plans to offer a subscription model to lower upfront costs and has seen strong interest in Denmark, where gas heating systems are scheduled for phase-out by 2035. Photoncycle aims to complete product development and begin customer shipments by Q3 2027.
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