SuWoTec

Company profile

In 2016, Sustainable World Technology (SuWoTec) was founded in Stadskanaal located in the Northern part of the Netherlands. This region is called 'the Top Dutch region'; the economic region of the Northern Netherlands that aims to be the forerunner of the energy transition. SuWoTec is the brainchild of four social entrepreneurs that want to address the need for a more sustainable and circular planet.

The unbalance between electricity supply and demand is putting more and more strain on the electricity distribution network. Adding new renewable energy sources like wind and solar to the grid is getting more difficult and the transition to a sustainable and independent energy supply is slowed down. Real world customer problems include farms that are not allowed to deliver solar energy to the grid anymore, offices and shops that need to safeguard their operations in case of power cuts and SME’s that are not allowed to use lithium-Ion batteries indoors due to safety regulations.

Placing energy buffers like batteries to store electricity can balance fluctuations between supply and demand, allow for a more efficient use of the existing distribution network and can lower electricity bills for the owners of the batteries.

SuWoTec offers scalable, recyclable battery systems from 50 kWh for domestic use, 120 kWh for SME use to a maximum of 20 MW for a stacked system of 120 kWh batteries for industrial applications. The minimum capacities allow for a buffer of three days electricity use. The inhouse developed smart Battery Management System (BMS) makes it possible to benefit from fluctuations in electricity price.

SuWoTec is proud to have Wedeka as a partner for assembly of our battery systems. By assembling in Wedeka's social workshops, SuWoTec offers work for people with illnesses or disabilities who would otherwise have difficulty working. This not only provides these people with an income, but also a sense of purpose and social integration.

Products

SuWoTec offers scalable, recyclable battery systems, mostly for industrial use:

Business model

Customers interested in the 50 kWh batteries are mostly homeowners or building owners of small and medium size companies with relatively many solar panels and/or wind turbines on their property, who require safe energy storage in their buildings.

The 120 kWh battery is meant for industrial use and includes customers such as solar park and windfarm operators, large farms, charging plazas, construction companies recreation parks and large event organizations.

Every sold battery system produces an average of € 3,875 in net profit for SuWoTec. Projected sales for 2024 - 2028 includes 1,272 batteries.

SuWoTec offers a unique energy management system, capable of managing the energy flows in the building based on:

Generate locally -> Store locally -> Use locally = Local benefit

SuWoTec's unique selling proposition is that the current C1 generation batteries are:

• Safer: SuWoTec’s Lead-gel based batteries are less prone to overheating and burning than lithium-ion based batteries;
• More sustainable: battery cells can easily be replaced in the battery system. Lead-gel cells are 100% recyclable and have an residual value. They do not use lithium (supply strain due to high demand for e.g. electric vehicles) nor cobalt (environmental and human rights issues);
• Cheaper: the existing supplier and logistics network allow for cheaper sourcing and import of the cells. The assembly of the products is outsourced to social workshops;
• More versatile: the battery system is modular and can also be used in off-grid mode;

Market

The market for home batteries and batteries for larger electricity storage is growing rapidly. In the future, the likely scaling down of governmental subsidies for solar electricity production in the Netherlands (Salderingsregeling) and the trend for energy companies to charge for electricity production will drive up demand for batteries. At the same time, measures are needed to reduce net congestion, to increase peak-shaving options and to allow for larger scale storage options. The market is estimated to grow with 600% to 3.2 GWh in 2030 in the Netherlands alone. This means the market doubles in size every two years.

The C1 battery series, targets the residential energy storage market in the Netherlands, aiming for a 1.6% market share by 2024. The target groups are house/farm owners and small and medium sized companies with solar panels and/or windmills. Besides the unique selling proposition of our battery systems (safer, more sustainable, cheaper, more efficient and more versatile), we also have build up a strong barrier to entry for new market entrants. Our existing procurement, production and logistic network is the result of years of fruitful cooperation from companies that the founders operated previously.

With logistics, warehousing, production and assembly partner in the social domain we generated flexibility to scale up. Secondly, the inhouse developed Battery Management System and Energy Management system gives us a head start of at least 2 years. Not only does this allow us to contribute to a more social society, it also gives us efficiencies and flexibility in the assembly of our battery systems. Lastly, the points mentioned above, our hard work and our network has led to an extensive prospect list worth around € 7 M. 

Use of funds

This financing round will allow SuWoTec to realise the growth potential by serving customers on the prospect list, boost marketing efforts and to provide working capital. This round will also provide SuWoTec with a buffer of 12 months for a downcase scenario.

Investment related documents

Log in for more information.

There are currently no updates available.

New information will be added to this section regularly as funding progresses. To be informed about new updates in a timely manner, subscribe to our newsletter.