Dispatch, a Dutch developer of large-scale Battery Energy Storage Systems (BESS), has successfully raised €5 million in financing through the issuance of senior bonds. This funding enables the company to further develop its 2,000 MW pipeline of battery projects in the Netherlands, Belgium, and Germany. The pipeline includes, among others, a 400 MWh battery in Friesland and a 600 MWh project near Antwerp.

Eiso Vaandrager of Dispatch on the collaboration with Zonhub:
“The collaboration with Zonhub was highly professional and focused on speed. Thanks to their knowledge of energy financing and structural thinking, we were able to secure this crucial development financing quickly. A strong foundation for the further scaling of our storage portfolio.”

About Dispatch
Dispatch was founded in 2021 and focuses exclusively on the development, construction, and operation of large-scale battery energy storage systems. The systems are connected directly to grid operators’ substations and play a key role in balancing the electricity grid. By storing energy when it is abundant and releasing it when it is scarce, Dispatch contributes to the stability and reliability of the grid. Dispatch is currently building the largest standalone battery in the Netherlands in Dordrecht (90 MWh).

Financing structure
The bond loan was issued by BESS Holding B.V., a 100% subsidiary of Dispatch, and has the following characteristics:

• Term: 30 months
• Interest: 8.0% fixed annual rate
• Repayment: Fully at the end of the term
• Security: First-ranking pledges over the shares and project rights of the project companies Dispatch Labradorite B.V. (NL) and Dispatch Topaz B.V. (BE)

The proceeds of the loan will be used as working capital for development up to financial close. This includes costs for permits, grid connections, engineering, legal advice, and down payments for long-lead items such as transformers and cables.

Also looking for development financing for battery storage or other energy assets?
Contact Zonhub via financiering.zonhub.com for more information about the possibilities.