DiCaprio backs Swedish energy storage startup Elvy

Leonardo DiCaprio has joined a funding round for Swedish energy storage startup Elvy, Sifted reported. The company did not disclose the amount raised or the valuation.

Elvy’s technology appears to target the gap between intermittent renewable generation and steady demand. The startup’s containers are designed to be stackable and scalable, potentially allowing utilities and industrial customers to add capacity without fixed infrastructure. Reports suggest the company has deployed pilot projects in Europe, though details remain unconfirmed.

The celebrity endorsement arrives as Europe’s energy storage market accelerates. When we covered Breakthrough Energy’s sixth cohort on 23 September, the organization noted a surge in electricity demand that outpaces current storage solutions. Some startups in this space are exploring standardized hardware paired with proprietary software—a trend that aligns with broader developments in automated power trading, such as Octopus Energy’s acquisition of Danish firm BD Energy last month.

DiCaprio’s climate-focused fund has previously backed ventures in carbon removal and sustainable materials, though this may mark its first direct investment in grid-scale batteries. The move raises questions about whether other high-net-worth individuals will follow, particularly as public funding programs like Australia’s $30M clean energy startup fund and Indian Oil Corporation’s pledge to support startups signal state-backed momentum in the space.

Sources: sifted.eu