Oslo’s Photoncycle raises €15 million to enable households to store surplus summer solar power for winter use

Oslo-based Photoncycle has secured €15 million in Series A funding to develop innovative energy storage solutions, aiming to bolster European energy independence. This investment, led by NordicNinja and Voima Ventures, will support the commercial rollout of their technology, enabling households to store surplus summer solar power for winter use, thereby reducing reliance on imported fossil fuels. Photoncycle's patented technology converts excess renewable energy into solid-state hydrogen, stored underground and later released as clean heat and power. This approach addresses Europe's persistent vulnerability to fluctuating global energy prices, exemplified by the €396 billion spent on fossil fuel imports in 2025. The solution is particularly pertinent for seasonal heating needs, which constitute a significant portion of household energy consumption. This funding injection is poised to impact homeowners and the broader European energy landscape, potentially lowering costs through a subscription model and contributing to a more resilient, sovereign energy system. Photoncycle's planned industrialisation, including a large-scale manufacturing facility, signals a commitment to scaling distributed, household-level seasonal storage across key European markets like Denmark and the Netherlands.