Alpiq has acquired ReCube AS, a Norwegian energy technology company, for an undisclosed amount. The transaction brings the Oslo-based developer of advanced battery energy storage solutions under the full ownership of the Swiss energy services provider, marking the completion of a deal that had been anticipated in industry circles.
ReCube specializes in both second-life and first-life battery energy storage systems (BESS), offering engineering, procurement, and construction (EPC) services while also operating storage assets as an independent power producer (IPP). The company has a track record of building energy storage businesses from the ground up, notably developing and spinning out Eco Stor GmbH, now one of Germany’s leading grid-scale BESS operators. ReCube was formerly known as Eco Stor before rebranding.
For Alpiq, the acquisition strengthens its position in the fast-growing European energy storage market. The Swiss firm, active in electricity generation, trading, and energy services, gains access to ReCube’s technical expertise in second-life battery applications and its operational IPP portfolio. This aligns with Alpiq’s broader strategy to expand flexible generation and storage capacity as renewable energy penetration increases across the continent.
The deal is expected to combine ReCube’s specialized engineering capabilities with Alpiq’s balance sheet, market access, and project development scale. ReCube’s existing projects and pipeline will be integrated into Alpiq’s storage division, while the Norwegian team is set to continue operating from its current base. No changes to ReCube’s management or workforce have been disclosed.
With the transaction closed, the combined entity is positioned to pursue larger storage projects across Nordic and European markets, leveraging ReCube’s second-life technology to address both cost and sustainability pressures in grid infrastructure. The integration process will now determine how quickly the two firms can align their operational and commercial frameworks.