Venture Capital: Porsche Buys A Stake In Sustainable Homes-Focused Startup 1KOMMA5°

1KOMMA5° is on an acquisition spree of European electrical installation companies specialized in renewable energy.

Porsche, the German car maker, has taken a stake in Hamburg-based startup 1KOMMA5° through its venture finance arm, Porsche Ventures. The startup seeks to boost the rollout of presently decentralized technologies related to renewable energy and mobility for homes by knitting together electrical installation entrepreneurs and companies onto a networking platform. 1KOMMA5° will also support them with technology for digitizing their business and centralization of admin tasks, as well as provide growth capital. (Porsche)

Porsche is therefore entering an area not strictly related to its core carmaking activity. Evidently, sustainability is a new business thrust, specifically, climate-neutral building technology.

Lutz Meschke, Deputy Chairman of the Executive Board and Member of the Executive Board for Finance and IT at Porsche AG said: “At Porsche, we are asking ourselves a question: how can we further enhance the quality of life in urban areas? And not only on four wheels, but also with more extensive premium offers. In this respect, 1KOMMA5° fits perfectly into our investment strategy.”

Acquisitions the way forward

1KOMMA5° intends to spend over 100 million euros over the next two years to realize its vision of becoming the “one-stop shop for climate-neutral building technology.”

“The core idea of 1KOMMA5° is that every person – even without policy changes – can make their home carbon-neutral and actually save money in the process,” said Philipp Schröder, co-founder and CEO of 1KOMMA5°. “With Porsche’s support, we want to become the backbone of the decentralised and renewable energy transition.”

In 2022, the company plans to open flagship stores, modeled on Apple, in German cities to introduce the ideas of a ‘carbon-neutral home’ and ‘carbon-neutral office.’

Related Story: Aurora Solar Scores $250M Series D

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