Formica Capital invests in Polarium

October 18, 2022

Formica Capital has acquired shares in Polarium, a leading provider of advanced solutions for energy storage and energy optimization built on lithium-ion technology, for customers in the telecom, commercial, and industrial segments.

Polarium, founded in 2015 by Stefan Jansson and Vargas Holding, is on a journey to empower a sustainable world with smart modular energy storage solutions built on lithium-ion technology. It is today the market leader in reserve power for telecom towers where the greener Li-ion technology substitutes lead-acid batteries and diesel generators. To date, Polarium has implemented over 350,000 installations in more than 70 countries on all continents and in all climate zones – from the Equator to the Arctic. The fast-growing company is Swedish-based with production facilities in Mexico, South Africa and Vietnam. Polarium has grown with around 150% annually between 2016 and 2021 and generated net sales of SEK 1.1bn and an EBITDA of SEK 83m in 2021.

Polarium has established a new business area, taking its advanced solutions for li-ion energy storage, into energy optimization for customers in the telecom, commercial, and industrial segments. By using battery modules and smart algorithms, Polarium helps customers significantly reduce energy costs while at the same time contribute to stabilize and maximize utilization of the existing electric grids. Energy optimization is a fast-growing segment as a consequence of the high and volatile energy prices the world have seen in the aftermaths of the tragic Ukraine Conflict.

Polarium creates significant impact in greening and electrifying the energy system. Li-Ion reserve power installations reduces diesel consumption and avoids hazardous lead-acid recycling processes. The company takes responsibility in greening the supply chain for battery modules, trough i.e. a long-term partnership with Northvolt on green battery cells. Batteries are also the missing link in a renewable energy system as smart and distributed energy storage is crucial to allowing more intermittent energy sources, such as wind and solar, into the electricity mix. To meet the targets in the Paris Climate Agreement, the International Energy Association estimates a need of more than 3,000 GW of batteries in the grid by 2050, almost 200 times more than the world has today.

For more information please contact:

Teresa Enander
COO Formica Capital
Tel: +46 739 17 86 91

David Leander
Investment Director Formica Capital
Tel: +46 72 22 32 581


About Formica Capital
Formica Capital is a Swedish investment company with a long-term ownership strategy. It is owned by the Olsson Eriksson family. Formica Capital creates value by being an active owner in profitable and long-term sustainable companies, that positively impacts society.