Led · Equity · Jul 2026

BSTOR develops and commissions battery energy storage system projects that provide flexibility services to the grid. The company has a total installed capacity of 160MW/430MWh across three projects and a development pipeline of around 1.5GW. Recent projects include the 50MW/140MWh DSTOR project in La Louviere, commissioned in March, and the 100MW/270MWh Estor-Lux II project in Aubange. BSTOR developed DSTOR in partnership with Duferco Wallonie and is developing Estor-Lux II with public investment companies SOCOFE and SOPAER. Its main shareholders are GreenStor (a joint venture of CFE and Ackermans & van Haaren), Wallonie Entreprendre and BEWATT.

Participated · Equity · Mar 2026

Storm develops and invests in large-scale battery storage projects to support grid flexibility and renewable integration. Its current program includes two projects: a 200 MW / 800 MWh battery park in Ruien being built on a former coal-fired power plant site, and a 100 MW / 400 MWh park in Langerlo at the port of Genk-Zuid. Both projects will use lithium-ion battery units supplied and installed by Tesla. Construction on both sites has started, with commissioning targeted for summer 2027 in Langerlo and autumn 2027 in Ruien. The company secured €330 million of capital for these developments with co-investment from I4B, PMV and TINC and project financing from a banking syndicate including Belfius, ING, KBC Bank, Rabobank, Santander, Societe Generale and Triodos Bank.

Participated · Equity · Oct 2025

Datacenter United runs a network of data-center facilities that supply colocation space and connectivity to enterprises and service providers in Belgium. The company positions itself as a local digital-infrastructure partner, offering secure, carrier-neutral environments for critical IT workloads. Backed by shareholders TINC and Cordiant Digital Infrastructure alongside CEO-founder Friso Haringsma, the firm plans to expand its current footprint across Belgium to meet growing demand for low-latency and high-resilience infrastructure. The newly secured €120 million financing will fund construction and upgrades of additional sites as well as bolster power and cooling capabilities. By strengthening its regional presence, Datacenter United aims to capture a larger share of Belgium’s cloud and edge-computing market. No specific revenue, customer, or utilization metrics were disclosed in the article. The company’s current financial position beyond the new financing was not detailed.

Led · Equity · May 2024

Azulatis provides Water-as-a-Service (WaaS) solutions, managing design, construction, financing and maintenance of bespoke industrial water projects and enabling wastewater reuse. The company is the market leader in Flanders and serves about 50 clients across food, chemicals, agriculture, retail and logistics, healthcare and industrial production. Azulatis was formed from the corporatization of the industrial arm of The Water Group and has operated as an independent subsidiary of The Water Group since January 1, 2023. The business aims to expand operations and accelerate innovation in circular industrial water techniques. Recent capital participation is intended to strengthen Azulatis' financial position and support growth and R&D in sustainable water management.