The start-up 1Komma5 Grad wants to make it possible for everyone to live climate-neutral.
(Photo: imago images/blickwinkel)
Stuttgart The Hamburg start-up 1Komma5 Grad is on a rapid growth course. The platform, which wants to make it possible for everyone to live climate-neutral, has now taken over the majority of the Swedish solar technology supplier Cellsolar, as the company said on Tuesday.
According to Cellsolar, it is number two in Sweden, with more than 500 employees installing more than 2000 systems a year. It is the first step abroad for 1Komma5 Grad, the next expansion destinations Denmark and Finland as well as Spain and Italy are to follow.
“We are achieving sales of over 100 million euros earlier than expected,” says company founder Philipp Schröder, former head of Tesla Germany, to the Handelsblatt. The pace seems remarkable. It took rival solar-leasing platform Enpal five years to reach that mark. With an investor valuation of more than one billion dollars, Enpal is the first green unicorn in Germany.
Unlike the competitor, Schröder sees the key to growth in the installation capacity for the systems. In order to build up advice and service, 1Komma5 Grad buys mostly from larger craft companies. Although they sacrifice their independence, they receive a share of the start-up and the service income as well as access to networking as well as software and hardware.
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The ex-Germany boss of Tesla wants to contribute to the global goal of keeping the temperature increase on earth below 1.5 degrees.
(Photo: Christoph Neumann)
Schröder’s approach is down-to-earth: All needs relating to electricity, heat and mobility should be met by local experts. “We are the first company to offer photovoltaic systems, electricity storage, charging infrastructure for electric cars and heat pumps from a single source, from the product to the installation and the green electricity contract,” says Schröder.
His goal is to make the complex processes efficient for customers and to accelerate the energy transition overall. This mission is already reflected in the company name: it stands for the global goal of keeping the temperature increase on earth below 1.5 degrees.
Bought seven craft shops
The method, which is reminiscent of a cooperative construction, seems to work. Within six months, the company has taken over more than seven workshops and employs 350 people. By the end of the year, a turnover of 150 million euros is to be achieved. And by 2030, Schröder wants to have acquired 80 handicraft businesses. Then half a million buildings are to be added to the platform every year.
So far, there have only been competitors in some areas. Energy companies, solar module and heating manufacturers as well as start-ups like Enpal are already bustling about in the market. 1Komma5 Grad has already raised around 100 million euros in capital from investors, including the investment arm of the sports car manufacturer Porsche.
The all-round solution for a single-family house costs around 50,000 euros. At first glance, this sounds more like something for wealthier customers. Schröder assumes, however, that the investment will pay for itself within seven to eight years simply through the savings in energy costs.
More: Ex-Tesla Germany boss Philipp Schröder wins Porsche as an investor