German green energy supplier Einhundert Energie GmbH has raised EUR 6.5 million (USD 7.37m) in a Series A financing round to fund the expansion of rooftop photovoltaic systems and the landlord-to-tenant electricity business in a drive to decarbonise the real estate sector at home.
The funding round was backed by new investors including German utility EWE AG, NRW.Venture, the venture fonds of German development bank NRW.BANK, Swiss impact investor Uebermorgen Ventures and Clima Now. Existing investors Wi Venture and Minol Messtechnik W Lehmann GmbH & Co KG also participated in the fundraiser, Einhundert Energie said on Tuesday.
Founded in 2017, the Cologne-based company offers the installation and operation of rooftop solar systems to support real estate companies to decarbonise buildings and supply green electricity to tenants. It covers the entire value chain from the assessment of buildings and installation of solar panels to electricity supply. With the help of smart meters and its own software platform, the start-up already operates solar systems and combined heat and power plants on 300 buildings and is currently working on 400 additional residential and office buildings. In 2021, the company's order intake surged about 300% as compared with the prior year.
Einhundert Energie seeks to become the driving force behind the electrification and decarbonisation of real estate properties across Germany and aims to equip thousands of buildings with solar panels and smart meters in the coming years, turning them into digitally operated solar power plants, said founder and chief executive Ernesto Garnier.
(EUR 1 = USD 1.134)
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