Harmony Energy
Developing renewable energy infrastructure projects.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
| N/A | €0.0 | round | |
* | £10.0m | Post IPO Debt | |
| Total Funding | 000k | ||
| GBP | 2021 |
|---|---|
| Revenues | 0000 |
| EBITDA | 0000 |
| Profit | 0000 |
| % profit margin | 17597 % |
| EV | 0000 |
| EV / revenue | 00.0x |
| EV / EBITDA | 00.0x |
| R&D budget | 0000 |
Source: Company filings or news article
Established in 2010 by CEO Peter Kavanagh, a professional with a background in real estate and a passion for renewable energy, Harmony Energy has positioned itself as a significant developer and operator in the utility-scale energy storage sector. The company's primary focus lies in battery energy storage systems (BESS), which are crucial for stabilizing national grids by balancing power supply and demand. Harmony Energy develops these projects from the ground up, managing everything from land acquisition and planning to construction and final operation.
The firm's business model revolves around developing, owning, and operating these large-scale battery storage facilities. Revenue is generated through participation in ancillary services markets, such as frequency response, and by capitalizing on energy arbitrage—buying electricity when prices are low and selling it back to the grid when prices are high. This strategy not only provides a commercial return but also supports the integration of intermittent renewable energy sources like wind and solar into the grid.
Harmony Energy's portfolio includes several high-profile projects, such as the Pillswood project, which was once the largest BESS in Europe by MWh. The company collaborates with various partners, including a long-term relationship with Tesla for the supply of its Megapack battery systems. The company's operations are geographically diversified, with a core presence in the United Kingdom and expansion efforts into other key European markets like France, Germany, Italy, and Poland, as well as New Zealand.
Through its investment trust, Harmony Energy Income Trust plc, the company offers investors a route to participate in the financial returns of a portfolio of operational battery storage assets. This structure provides the necessary capital for the construction and acquisition of new projects, fueling the company's continued growth in the energy transition landscape.
Keywords: battery energy storage, utility-scale BESS, renewable energy development, grid stabilization, energy arbitrage, ancillary services, Tesla Megapack, project development, energy investment, clean energy