Porsche’s venture capital arm has taken a minority stake in 1Komma5, a five-month German startup aimed at providing households with everything they need for a carbon-neutral home, including energy storage, infrastructure charging for electric vehicles and solar energy.
The investment, the amount of which was not disclosed, follows a series of deals concluded by Porsche Ventures over the past two years, notably based in Israel TriEye sensing technology startup, electric in line RidePanda micromobility dealer and Tactile Mobility virtual detection startup.
This investment departs a bit from the typical Porsche Ventures mobility tech game.
“With this investment, we want to underline our ambition in the field of smart city and sustainability,” Patrick Huke, head of Porsche Ventures Europe and Israel, told TechCrunch.
The Hamburg, Germany-based startup was founded by Micha Grueber, who is CFO, and Philipp SchrÃ¶der, whose previous stints were with Tesla and energy storage company Sonnen.
The company – its name is a nod to the Paris Climate Agreement’s goals of keeping global temperature increases at 1.5 Â° C – is taking an interesting path toward its one-stop-shop goal.
Today, companies are all focused on selling components like solar power or energy storage, SchrÃ¶der said in a recent interview. At the same time, no one in Europe is focused on consolidating these decentralized assets. This is sure to cause problems, argues SchrÃ¶der.
“There will be problems in a decentralized energy world if every household has a heat pump, a charging point and a storage system and they do not communicate at the grid level (or between them ), there will be problems, âhe said.
1Komma5 aims to bring everything together through its software and acquisitions. Specifically, 1Komma is looking to buy leading electrical installation companies in Germany – and will eventually expand to other countries such as Austria and Switzerland – that focus on renewables such as solar, heat pumps and energy storage. 1Komma5 provides enterprise software for these businesses to handle administrative tasks and customer relationship management, as well as power management software that links charging, solar power and energy storage.
What makes 1Komma5’s business interesting is its plan to interconnect these components like solar power and energy storage at the home level and at the grid level, SchrÃ¶der said.
The startup has made five acquisitions so far through cash and stock trading.
The young startup has big ambitions to use â¬ 100million in cash and stocks over the next two years to acquire more of these renewable energy-focused installation companies. It targets installation companies with turnover between 5 million and 20 million euros and skilled labor, not sales companies that simply subcontract to other contractors.
Porsche funding will be used to help grow 1Komma5, a plan that includes opening outlets that embody a high-end Apple design vibe where potential customers can learn about the essentials of a home. carbon neutral. Customers of these stores might see a Porsche Taycan alongside a home charger, energy storage, and a solar system, for example.
The first showrooms are planned at Binnenalster Hamburg and Lingen an der Ems and are expected to open in the first quarter of 2022.
Porsche has no immediate plans to offer 1Komma5 products to its own customers. However, as Huke noted, Porsche Ventures are making strategic investments and will be looking at different possibilities in the medium to long term.