Oslo‑based climate-tech startup Photoncycle has raised €15 million in Series A funding to scale its seasonal energy storage system and launch commercial rollout in Denmark and the Netherlands. The funding round was led by NordicNinja and Voima Ventures, with participation from Lifeline Ventures, Eviny Ventures, Luminar Ventures, and Momentum.
The technology allows hoapplyholds to store surplus summer solar energy for winter apply, reducing energy bills, lowering depconcludeence on fossil fuels, and strengthening Europe’s energy resilience. Photoncycle also sees opportunities for similar seasonal storage solutions in Asia and the United States.
The funding will support manufacturing scale‑up, early commercial deployment, and the first phase of an industrial facility with 1.4 TWh annual storage capacity, enough for approximately 140,000 homes. Photoncycle plans to offer the system through a subscription model that combines rooftop solar panels, 10,000 kWh of seasonal energy storage, and full servicing.
KEY QUOTES
“Europe is launchning to solve short-duration storage. The remaining gap is seasonal. If hoapplyholds can store cheap solar powered summer energy for winter apply, they reduce exposure to imported fuel and price volatility as well as to increasing grid costs for consumers.”
— Bjørn Brandtzæg, founder and chief executive of Photoncycle
“From our perspective of bridging Japanese capital and European startup expertise, we strongly believe energy sovereignty must be strengthened across both Europe and Asia. Photoncycle combines deep technical innovation with a clear, scalable path to global deployment. Long-duration energy storage is critical to building resilient, reliable clean energy systems in Europe, Japan and beyond. We’re excited to assist introduce the team to global opportunities, building on our long experience in the energy sector.”
— Tomosaku Sohara, co-founder and general partner, NordicNinja
“As the share of renewable energy increases, structural price volatility in electricity markets is rising. Seasonal storage is therefore not a niche solution, but a systemic necessity. Photoncycle addresses this imbalance by enabling hoapplyholds to store energy across seasons and reduce their depconcludeence on imported fossil fuels. This is a radically important building block for a resilient and sovereign European energy system.”
— Inka Mero, founder and managing partner, Voima Ventures
“As grids relocate toward high variable renewables penetration, energy becomes abundant in the summer and scarce in the winter. Seasonal storage and reliability become real constraints. Photoncycle is developing technology that thrives in this new reality. It is the world’s first residential energy system capable of storing summer surplus energy and dispatching it in the winter while lowering the energy bills of their customers.”
— Teemu Mattila, partner, Lifeline Ventures
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