This week, Hamburg carbon-neutral energy systems provider 1KOMMA5° confirmed closing an undisclosed double-digit million Euro deal with VC firm 2150. The company previously raised €630 million in funding and became a unicorn in June this year after less than two years in operation.
1KOMMA5° invests in companies in the electrical sector with a particular focus on photovoltaic systems, charging infrastructure and heat pumps, and in return, offers the entrepreneurs the use of its own software solutions, centralised services, bundled purchasing, growth capital and a reverse shareholding in 1KOMMA5° Holding.
The company is the provider of the "Heartbeat" a proprietary energy IoT system delivering centralised intelligent energy management which optimises home energy in response to energy price fluctuations. It will now be available for use across all compatible systems, increasing user independence from the electricity grid.
It also operates a virtual power plant that pools and networks customers' photovoltaics, electricity storage, heat pumps and charging columns, thus greatly increasing the profitability of networked customer systems.
1KOMMA5° will use the funding for the further development and expansion of its software applications around "Heartbeat" and a new R&D centre in Berlin with over 100 employees for software and product development as well as a test laboratory.
Philipp Schröder, co-founder and CEO of 1KOMMA5°, shared:
“We’ll use this funding to further refine our ‘Heartbeat’ software to come closer to our goal of living on wind and sunlight forever for free.
Currently, we can already control charging stations for electric cars, electricity storage or heat pumps in such a way that we can guarantee an average electricity price of 15 instead of 40 ct/kWh, but that is not the end.
We want to reduce the costs of Heartbeat-connected systems to 0 ct in the medium term. But this requires constant further development.”
Currently, 1KOMMA5° operates over 65 sites with around 1,500 employees in Germany, Sweden, Finland, Italy, Denmark, Spain, and Australia. The company acquired Daanish solar company Viasol A/S in June this year.
The company has the current capacity to convert 500,000 buildings per year to climate-neutral power generation, heat and mobility.
According to Jacob Bro, Partner and co-founder of 2150:
“1KOMMA5° is quickly becoming the leading home electrification and decarbonisation platform across Europe. In combination with the growing install base of energy assets, their ‘Heartbeat’ solution unlocks optimal energy usage and price savings for millions of potential customers.
This means cleaner and cheaper electricity for households who are rapidly adopting rooftop solar, home batteries, electric vehicles, and heat pumps all the while buffering them from the inherent volatility of renewable wind and solar energy.”
Lead image: 1KOMMA5°. Photo: Uncredited.