Enico

What Enico does

Enico Oy is a Finnish energy storage company headquartered in Tampere and a subsidiary of WEST Invest Group. It designs and delivers modular Battery Energy Storage Systems (BESS) under the Enico | Jupiter brand, serving commercial & industrial customers, electric utilities and grid operators, EV charging infrastructure operators, and rental/event services. The core platform is a patent-pending modular architecture using predominantly European components (Rittal liquid cooling, Danfoss iC7 Hybrid power converters, LFP/NMC lithium-ion batteries, SALGROM-X aerosol fire suppression, 3-tier BMS) that scales from 300–350 kW units to multi-MW/MWh systems, with a claimed 96% annual availability guarantee and an 8-month Fast Track delivery model.

The integrated Enico EMS (Energy Management System) provides AI-driven remote control, real-time market monitoring and automated allocation of storage assets across Nordic reserve markets (FCR-N, FCR-D, FFR, aFRR) and Intraday/day-ahead SPOT. Enico monetizes through hardware sales, managed ESaaS turnkey packages (consulting, delivery, commissioning, maintenance), EMS software subscriptions, and multi-year service contracts. The product family spans Jupiter and Jupiter Nova (utility-scale), EModule/EModule MultiBlock, CompactESS (EV charging), and MobileESS/Jupiter Mobile (portable rental fleets).

Go-to-market is enterprise field sales (named account managers in Finland) augmented by an integration partner (Ubitec Oy) for installation and a new application partnership with Rittal that extends distribution into Germany and the Baltics. Enico participates in industry events (Intersolar Europe, annual Battery Day co-hosted with sister company Höyrytys) and has been recognized on the Deloitte Technology Fast 50 (2025) and FT1000 (#18, April 2026). The company closed a EUR 7 million growth investment from Evli Private Capital and Arvo Sijoitusosuuskunta in October 2025.

Name

Enico

Legal name

Enico Oy

Website

https://enico.fi

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

Enico Oy designs and delivers modular battery energy storage systems and an AI-driven Energy Management System (Enico EMS) for commercial and industrial customers, utilities, and EV charging operators in the Nordics, with expansion into Germany and the Baltics.

Ownership category

akta.pro rank

Product category

Battery Energy Storage Systems

NAICS

Electrical Equipment Manufacturing (33531), Instruments and Related Products Manufacturing for Measuring, Displaying, and Controlling Industrial Process Variables (334513)

SIC

Electronic & Other Electrical Equipment (No Computer Equip) (3600)

akta.pro primary industry

Stationary Energy Storage Systems (BESS/ESS Integrators) (IMAGAHAD)

akta.pro secondary industries

Utility-Scale BESS EPC & Integration (EUAEAEAA), Energy Storage Software & Controls (EMS, monitoring, optimization, cybersecurity) (IMAGAHAJ), Forecasting & AI Optimization for Flexibility (Load/Price/Renewables/SoC) (EUAFAKAH), BESS O&M and Lifecycle Services (Warranty, Spares, Monitoring) (EUAEAEAM)

Keywords

• Modular battery storage
• Energy management software
• Grid frequency regulation
• Commercial energy storage
• Utility scale BESS

Headquarters

HQ city

Tampere

HQ country

Finland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Technology or R&D, Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. BESS Hardware Sales: Sale of modular energy storage systems (Jupiter, EModule, CompactESS, MobileESS) as turnkey solutions. Revenue recognized at system delivery and installation. Pricing project-specific, typically quoted based on power (kW/MW) and energy capacity (kWh/MWh) requirements.
2. Energy Storage as a Service (ESaaS): Full-service energy storage solutions delivered as 'avaimet käteen' (turnkey) packages including consulting, project delivery, commissioning, and ongoing maintenance contracts. Enico EMS subscription enables market participation and optimization.
3. EMS / Energy Management Software Services: Enico EMS enables participation in energy and reserve markets (FCR-N, FCR-D, FFR, aFRR, Intraday, day-ahead SPOT). Software subscription/service fees from AI-optimized trading and flexibility management.
4. Maintenance and Support Contracts: Preventive maintenance agreements covering spare parts, labor, expert on-call services, and major updates every five years. Contracts available up to 10 years. Contract customers receive spare parts discounts.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Enico designs, manufactures, and delivers modular Battery Energy Storage Systems (BESS) under the Enico | Jupiter brand, paired with a proprietary AI-driven Enico Energy Management System (EMS). The hardware scales from 300 kW/375 kWh units to multi-MW/MWh systems for commercial, industrial, utility, and EV charging customers. The EMS automates participation in FCR-N, FCR-D, FFR, aFRR, Intraday and day-ahead SPOT markets. Revenue is generated through turnkey project delivery, software subscriptions, managed services, and multi-year maintenance contracts.

Product overview

Enico offers a unified energy storage platform under the Jupiter brand, comprising modular hardware systems (Jupiter, Jupiter Nova) and the proprietary Enico EMS software. The product portfolio includes EModule (standard modular units), CompactESS (compact solutions for EV charging), and MobileESS (portable units) as distinct configurations of the core Jupiter platform. The Enico EMS serves as the unified control layer across all hardware, providing AI-driven optimization and automated market trading capabilities.

Differentiator

Problem solved

Functional benefit

Products and services

• Enico | Jupiter Modular battery energy storage system (BESS) with patent-pending architecture scaling from 300 kW / 375 kWh units to multi-MW/MWh configurations. Designed for commercial & industrial properties and utility applications, featuring integrated AI-powered Enico EMS for automated energy trading, reserve market participation, and grid support. Configurations include EModule (standard modular units), CompactESS (compact solutions for EV charging), and MobileESS (portable units) as distinct form factors of the Jupiter platform.
• Enico | Jupiter Nova Next-generation energy storage solution for larger storage configurations, enabling faster installation and improved space efficiency. Designed for utility-scale applications and hybrid power plants requiring extensive energy storage capacity.
• Enico EMS (Energy Management System) AI-powered virtual energy management software that manages energy storage operations, monitors markets in real-time, and automatically allocates storage assets to the most profitable use cases. Enables participation in FCR-N, FCR-D, FFR, aFRR, Intraday and day-ahead SPOT markets. Delivered as a recurring subscription/service for BESS customers.
• Energy Storage as a Service (ESaaS) and Maintenance Contracts Full-service energy storage solutions delivered as turnkey 'avaimet käteen' packages including consulting, project delivery, commissioning, and ongoing maintenance contracts with preventive maintenance, spare parts, on-call expert services, and major updates every five years. Contract terms available up to 10 years.

Quantifiable outcome

• Up to 10x lower infrastructure costs compared to conventional BESS deployments
• +4 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature6 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• DanfosscoreTechnology or Integration · 21 May 2025Framework agreement signed May 21, 2025, ensuring high-quality components for Enico's product development. Danfoss provides iC7 Hybrid power converters enabling reliable and technically capable energy storage. Over 75% of Enico's technology is European-sourced, with Danfoss as a key component partner.
• RittalcoreTechnology or Integration · 26 March 2025Enico and Rittal signed a BESS cooperation agreement on March 26, 2025, for the supply of liquid cooling units over several years. Rittal supplies Blue e liquid cooling units supporting Enico's rapid growth. The partnership was elevated to a new strategic level in March 2026 with an application partnership agreement extending distribution to Germany and the Baltic states.
• NSC EnergyOpti OycoreStrategic or Co-development Partner · 10 January 2024Partnership and delivery agreement signed January 2024. Enico delivered 3 MW / 3.75 MWh EModule MultiBlock to NSC EnergyOpti, enabling participation in Fingrid reserve markets. Partnership supports NSC's vision for sustainable energy sector and Nordic expansion.
• AVESTAcoreTechnology or IntegrationStrategic partnership with Belgium-based AVESTA covering the entire battery value chain from cells to recycling. Part of Enico's strategy to ensure European technology and supply chain security.
• Ubitec OycoreImplementation/ SI/ Consulting PartnerUbitec serves as Enico's primary integration partner handling electrical, automation, and mechanical integration, commissioning, and project delivery. Sakutec Oy merged into Ubitec in September 2025, expanding their service scope to include full lifecycle maintenance.
• RechargecoreStrategic or Co-development PartnerFramework agreement signed for delivery and maintenance of battery energy storage solutions across the Nordics. Enico delivered first CompactESS 600 to Recharge in Västerås, Sweden (autumn 2024) and a second CompactESS 300 in autumn 2025. Recharge operates the largest open fast-charging network in the Nordics.
• Höyrytys OycoreStrategic or Co-development PartnerHöyrytys operates a fleet of Enico MobileESS units. Units participate in Fingrid's reserve market while generating rental revenue from construction sites and events. Both companies are part of WEST Invest Group Oy and co-host the annual Battery Day event.
• Koillis-Satakunnan Sähkö Oy / Killin Voima OyminorStrategic or Co-development PartnerKillin Voima (subsidiary of Koillis-Satakunnan Sähkö) ordered a 6 MW / 12 MWh energy storage — Finland's largest BESS connected to a hydropower plant — as a hybrid solution for Fingrid flexibility markets.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Saft (TotalEnergies): French battery manufacturer (subsidiary of TotalEnergies) producing lithium-ion BESS solutions (Intensium Max) and grid energy storage systems for utilities and C&I. Broad incumbent with overlapping technology stack and large installed base across Europe.
• Sungrow: Leading Chinese inverter and energy storage manufacturer offering integrated BESS solutions (PowerTitan) and storage PCS, plus broader solar inverter portfolio. Broad incumbent competing with Enico on utility-scale BESS tenders across Europe.

Direct peers

• BYD Energy Storage: Global battery and BESS integrator offering modular energy storage systems with integrated EMS for grid-scale and C&I applications. Direct peer in BESS hardware integration and competes with Enico on European utility and commercial projects.
• Stem Inc: AI-driven energy storage and management software provider offering the Athena platform for automated multi-market optimization across North America and EMEA. Direct peer in EMS-driven recurring revenue model for BESS optimization.
• Wärtsilä Energy Storage: Finnish-headquartered global engine and energy storage integrator with GridSolv and Quantum product lines for utility-scale BESS. Direct peer given shared Finnish base, utility-scale focus, and overlap in Nordic customers and reserve markets.
• Tesla Energy (Megapack): Tesla's utility-scale BESS offering using Megapack hardware and Autobidder energy management software for automated market participation. Direct peer across utility-scale BESS hardware and AI-driven multi-market EMS — Enico EMS competes directly with Autobidder.
• Rolls-Royce (mtu Energy Storage): Rolls-Royce Power Systems' mtu brand offers modular containerized BESS (EnergyPack QG) targeting commercial, industrial and utility customers in Europe. Direct peer for modular utility-scale BESS with similar European focus.
• Fluence Energy: Joint venture between Siemens and AES, providing modular BESS (Gridstack, Cube) and the Mosaic AI-driven energy management platform. Direct peer across both hardware integration and EMS software with similar utility and C&I customer focus.

Emerging players

• Nuvve Holding Corp: US-based V2G and stationary energy storage software company with GIVe platform for automated energy market participation. Emerging player with similar AI-driven optimization approach but focused on V2G and smaller-scale assets.

Regional players

• Alfen: Dutch manufacturer of EV charging stations, energy storage systems (TheBattery) and grid equipment, serving European utility, C&I and EV charging customers. Regional peer with overlapping European C&I + EV charging storage offering; geographically adjacent rather than overlapping Finland/Nordics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/enico-oy

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Enico