15 MSEK funding for venture Ferroamp Elektronik AB

Ferroamp, a Swedish venture supported by KIC InnoEnergy that develops power electronics for smart grid applications, successfully raised 15 MSEK (approx. 1.6 M€) in December 2015, both from public and private fundings.

Among the new investors are Almi Invest and the Shanghai-based Pacific Electric Power Energy.

“We are very proud to be supported by a professional investor such as Almi, and equally excited about the opportunities that Pacific brings to access the growing Chinese market”, says Björn Jernström, CEO of Ferroamp. “China has a huge market potential for solutions that can tackle the imminent pollution problems and reduce the country’s dependence on lignite.”

About Ferroamp Elektronik AB

Ferroamp Elektronik develops power electronics for smart grid applications related to solar power, energy storage, EV charging and visualization of energy flows. The products are based on innovative power electronics that result in reduced power losses and new features both for end customers and grid companies.