Photoncycle

Photoncycle AS, based in Oslo, Norway, specializes in renewable energy solutions, offering an innovative solar energy system that integrates storage and hydrogen production for efficient energy management year-round. Photoncycle AS was founded in 2020 and operates from its headquarters in Oslo, Norway. The company focuses on providing renewable energy systems that cater to residential households, particularly targeting markets in Northern Europe. Bjorn Brandtzaeg serves as both the CEO and founder, and the company has successfully raised a total of EUR 15.

00 mn in a Series A funding round, the latest being on March 4, 2026, co-led by NordicNinja VC and Voima Ventures, with participation from other investors including Lifeline Ventures, Eviny Ventures, Luminar Ventures, and Momentum Partners. Photoncycle specializes in a year-round solar energy system designed to address the inherent seasonality challenges of solar power generation. Their core product integrates solar panels, a reversible fuel cell for hydrogen production, and a proprietary solid-state hydrogen storage unit capable of holding up to 10,000 kWh of energy. This system allows homeowners to generate and store renewable energy efficiently, providing electricity, heating, and hot water throughout the year.

Target customers include residential households, particularly those with existing water-based heating systems such as gas or oil boilers, which can easily transition to the Photoncycle system without requiring retrofitting. The company primarily serves markets in Northern Europe, where average residential rooftops can produce 20-25 MWh of electricity annually, enhancing energy autonomy and sustainability. Photoncycle generates revenue through a subscription-based model, where customers pay a fixed monthly fee for access to the energy system, offset by profits from energy trading. In the most recent fiscal year of 2023, the company reported a revenue of EUR 549,753.

90, while for 2024, they anticipate an EBITDA of EUR -535,842. 10. This approach allows users to benefit from surplus energy production and capitalize on market fluctuations by selling excess electricity back to the grid when prices peak. Customers initially pay a refundable deposit upon ordering the system, followed by monthly payments which are reduced based on energy trading revenues.

The company's offerings cater to both direct-to-consumer transactions and partnerships with energy management systems, enabling a streamlined process for households looking to reduce their heating and electricity costs by 10% to 50%. The business model emphasizes a low upfront investment, encouraging broader adoption of sustainable energy solutions. Photoncycle plans to utilize the EUR 15. 00 mn raised in their Series A funding to expedite commercial growth in Denmark and the Netherlands.

The company is focusing on expanding its market presence in these regions by developing new products that enhance energy efficiency and storage capabilities. The funding will support their strategic initiatives aimed at broadening their customer base and entering new markets, ensuring continued innovation and accessibility of renewable energy solutions.