Investment in Enico

We advised lead investor Evli Private Capital in its equity investment in Enico, an innovative Finnish provider of modular battery energy storage systems (BESS).

Enico advances the green transition by optimizing energy storage solutions for renewable power producers and users, directly supporting the EU’s decarbonization and energy security goals. Enico’s cornerstone product, Jupiter, can be scaled from small installations to multi-megawatt systems, making it suitable for a wide range of energy storage needs. Equipped with AI, Jupiter enables full remote monitoring and control of energy usage, as well as participation in frequency reserve and electricity markets, allowing customers to unlock maximum value from their energy storage investment.

Enico is the latest Deloitte Technology Fast 50 winner as the fastest-growing technology company in Finland with a phenomenal 3,851% growth in the last four years.

The investment by Evli Private Capital and co-investor Arvo Sijoitusosuuskunta will fuel Enico’s growth both in its main market Finland, as well as internationally. As a result of the investment, Evli Private Capital becomes a significant minority shareholder in Enico. Evli Private Capital is part of the Finnish listed asset management group Evli Plc. This represents the fourth investment for Evli Private Capital Fund I. The fund makes significant minority investments in Nordic SMEs within energy transformation, resource efficiency, and the circular economy. The private equity team's previous investments include e.g. Solnet Green Energy, Bladefence, Elcoline and EWQ Zone.