Octave.energy Raises €10M Series A Led by SPDG Growth

Octave.energy Secures €10M Series A

Belgian cleantech company Octave.energy has raised a €10 million Series A round led by SPDG Growth, with participation from imec.istart. The funding was announced on September 4, 2026.

What Octave.energy Does

Founded in 2020 and headquartered in Mechelen, Octave.energy builds integrated battery energy storage systems (BESS) paired with its own Energy Management System (EMS). The company serves industrial customers, SMEs, and the agricultural sector.

Octave.energy began with second-life EV battery systems and has since shifted its focus to first-life LFP storage with in-house intelligent control. This transition reflects a broader move toward purpose-built storage hardware and software rather than repurposed components.

Traction and Scale

According to the company, Octave.energy has:

• Delivered more than 200 MWh of storage capacity
• Served over 400 businesses
• Worked with customers including Colruyt Group, Eneco, McDonald's, and Naturgy
• Been profitable for three consecutive years
• Generated €16 million in revenue in 2025

That combination of profitability and revenue scale is notable for a company raising a Series A, and it positions Octave.energy differently from many venture-backed cleantech peers that are still pre-revenue.

The Round

• Round type: Series A
• Amount: €10 million
• Currency: EUR
• Announced: September 4, 2026
• Lead investor: SPDG Growth
• Other investors: imec.istart

The participation of imec.istart, a Belgian early-stage investor connected to the imec research ecosystem, alongside lead investor SPDG Growth, gives the round a mix of institutional growth capital and regional technology backing.

Why It Matters

Battery energy storage is a capital-intensive segment, and integrated hardware-plus-software providers are increasingly sought after as industrial and commercial customers look to manage energy costs and grid interaction. Octave.energy's dual offering — BESS hardware combined with a proprietary EMS — targets that demand directly.

The company's stated customer base spans retail, energy, food service, and utility-adjacent names, suggesting its systems are deployed across a range of load profiles and site types. Its focus on industrial customers, SMEs, and agriculture also points to a segment that is often underserved by larger utility-scale storage providers.

Acquisition Angle

For acquirers, Octave.energy presents several attributes worth noting:

• Integrated stack: Hardware and EMS developed in-house, reducing dependence on third-party control software.
• Demonstrated commercial traction: Over 400 business customers and 200+ MWh delivered.
• Financial discipline: Three consecutive profitable years and €16 million in 2025 revenue.
• Geographic base: Belgium and broader European exposure through named customers.
• Investor validation: A €10 million Series A led by SPDG Growth with imec.istart participation.

Strategic buyers in energy management, grid services, or industrial equipment could view Octave.energy as a route to established BESS deployment capability and a working EMS platform. The company's profitability profile may also make it attractive relative to earlier-stage storage startups that require continued capital infusions.

What to Watch

How Octave.energy deploys the Series A proceeds will be a key signal. Growth capital at this stage typically supports manufacturing scale-up, software development, and geographic expansion. Given the company's existing revenue base and customer roster, the round appears positioned to accelerate an already commercial operation rather than fund initial product development.

For acquisition-focused observers, the combination of a €10 million Series A, a lead investor in SPDG Growth, and a profitable operating history makes Octave.energy a name to track in the European battery storage market.