The round is split between €16M from Eiffel Investment Group for project deployment and €6M led by SET Ventures for product and expansion, alongside existing investors Ananda Impact Ventures and Contrarian Ventures. The company targets 100MW+ of BESS projects across France, with Germany, the Nordics, and Poland to follow.
Decade Energy, the Paris-based company building power infrastructure at logistics depots for electric truck fleets, has raised €22 million in a round led by Eiffel Investment Group and SET Ventures, with continued backing from existing investors Ananda Impact Ventures and Contrarian Ventures.
The round is structured in two tranches with distinct purposes: €16 million from Eiffel, through its managed fund Eiffel Transition Infrastructure, dedicated to project deployment, specifically the rollout of a portfolio of at least 100MW of battery energy storage systems (BESS) across France, representing total project CapEx financing of approximately €50 million.
The remaining €6 million, led by SET Ventures, is directed at advancing Decade Energy’s energy optimisation software, new truck charging and photovoltaic products, and expansion into new markets.
The company was founded in Paris in 2024 by Casper Norden (CEO), Alexandre Cleret (COO), Alejandro Ortega Peniche, and a team drawn from Volta Trucks and its Truck-as-a-Service subsidiary.
Carl-Magnus Norden founded Volta Trucks in 2019; Casper Norden led its Truck-as-a-Service operation, which helped major European logistics companies plan and execute fleet electrification.
When Volta Trucks filed for administration in late 2023, the TaaS team separated out the infrastructure and energy management activity into Decade Energy, raising €3.6 million in seed funding from Ananda Impact Ventures and Contrarian Ventures in June 2024.
The business model Decade Energy has built is defined by what it does not charge upfront. Under its zero-CapEx approach, logistics property owners and depot operators receive the grid connections, BESS installations, EV charging infrastructure, solar panels, and energy management software they need to support electric truck fleets without making a capital outlay.
Decade Energy develops, finances, and operates the infrastructure, generating returns through a rental income model for the property owner and through BESS participation in energy markets, battery storage systems can inject or withdraw electricity to help balance grid fluctuations and are compensated by grid operators for doing so.
The model converts a capital-intensive infrastructure problem into a predictable operating cost, and turns the depot into an active participant in electricity markets rather than a passive consumer.
The problem Decade Energy is addressing is structural. As electric trucks move from novelty to mainstream, the problem is no longer vehicle availability but grid access.
The average European logistics depot will need ten to twenty times its current power capacity to support a fully electrified fleet, according to the company’s own analysis.
Grid connection lead times across Europe regularly run to years, not months, and the on-site complexity of integrating BESS, solar, charging infrastructure and grid connections is beyond the core competency of most logistics operators.
Decade Energy’s pitch is to own and operate that complexity on their behalf.
The company’s early traction figures, as reported in the announcement, are notable: more than 1,500 depot electrification feasibility studies conducted across Europe; more than 100 projects representing over 500MW of capacity under development; and a pipeline of 50 projects set to begin construction in 2026.
The live deployment with Renault Trucks at its Grand Paris site in Gennevilliers, where Decade Energy and AXPO Group are operating a system combining a new 250 kW grid connection with 110 kW/220 kWh BESS and up to 360 kW of charging capacity, with AXPO serving as energy aggregator, provides a working reference site for the model at commercial scale.
The international expansion funded by this round targets Germany, the Nordics, Poland, and other European markets.
France has been Decade Energy’s initial proving ground; the company’s argument is that the structural problem it solves, grid constraints, connection lead times, on-site complexity, is not specific to France but reflects a wider European condition driven by the same forces: accelerating electric truck adoption against infrastructure that was not designed for it.
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