German climate-tech unicorn 1KOMMA5º closes a double-digit million Euro deal with VC firm 2150

Hamburg-based 1KOMMA5°, a provider of climate-neutral energy solutions, announced that it has closed a double-digit million Euro deal with 2150, a venture capital firm operating in Copenhagen, London, and Berlin. 

This investment will support 1KOMMA5° in its mission to reshape urban environments sustainably, indicating progress in its efforts towards a greener future.

Making buildings CO2 neutral

Founded in 2021 by Philipp Schröder, Micha Grüber, Jannik Schall and Philip Liesenfeld, 1KOMMA5° was founded with the aim of making buildings holistically CO2 neutral through the use of photovoltaics, heat pumps and charging infrastructure.

The Hamburg-based startup is investing in leading companies in the electrical sector, focusing on photovoltaic systems, charging infrastructure, and heat pumps. In exchange, entrepreneurs receive access to 1KOMMA5°’s software solutions, services, capital, and a share in the company.

1KOMMA5°’s goal is to become a Europe-wide market leader by 2030, aiming for €10B in annual revenue and converting 500,000 buildings yearly to climate-neutral energy solutions.

Currently operating in several countries with over 65 sites and 1,500 employees in Germany, Sweden, Finland, Italy, Denmark, Spain, and Australia. 

Besides, 1KOMMA5° also offers the ‘Heartbeat’ energy management system and operates a virtual power plant, connecting customers’ energy systems to enhance profitability.

1KOMMA5° aims to become the leader in providing clean energy

1KOMMA5° is expanding its presence in Europe by acquiring market leaders in Denmark and entering the Spanish market. The company aims to establish itself as a leading cleaner energy provider in Europe.

Its strategy involves offering clean-energy infrastructure installation, including solar panels, energy storage, EV wallboxes, and heat pumps, coupled with its intelligent Heartbeat energy management platform. 

This approach aims to enable millions of private customers to embrace climate technologies, decarbonise their homes, and transition to cleaner transportation. 1KOMMA5° is pursuing aggressive growth, targeting €500M in revenues for 2023 and aiming for €10B by 2030.

Additionally, the company plans to convert 1.5 million buildings to cleaner energy solutions within this timeframe.

Jacob Bro, Partner & co-founder of 2150 says, “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.”

Capital utilisation

1KOMMA5° says it will use the funds to enhance its proprietary energy IoT system called “Heartbeat”. This system enables centralised intelligent energy management, allowing users to optimise their power consumption and reduce dependence on the electricity grid.

The company also plans to expand by establishing a new R&D center in Berlin with over 100 employees dedicated to software and product development, along with a test laboratory.

Co-founder Philipp Schröder says, “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 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,” adds Schröder.

Brief about 2150

2150 is a venture capital firm operating within the Urban Partners platform, concentrating on investments that promote sustainable transformations in urban environments. 

The firm supports entrepreneurs at the forefront of the climate transition, scaling companies and technologies that have long-term, equitable impacts across different urban aspects, including construction, design, power generation, and overall urban living.