Stuttgart The ex-Germany boss of Tesla grew up on a Demeter organic farm in the Lüneburg district. Philipp Schröder also harvested dandelions when the moon was full. With the farm, the father, an investment banker, and the mother, a doctor, had fulfilled a dream.
And so Schröder developed an ecological awareness from childhood, learned the right timing for a good harvest and got a feel for the capital market. Apparently he didn’t need his business administration or law studies – and dropped out. Instead, the 39-year-old preferred to found start-ups.
Even Porsche is now entrusting several million euros to its new start-up called 1Komma5 °. The sports car manufacturer does not reveal the exact amount or the amount of the participation.
CFO Lutz Meschke comments on the commitment in flawless company jargon: “We at Porsche ask ourselves the question: How can we further improve the quality of life in urban areas? And not just on four wheels, but also with more extensive premium offers. “1Komma5 ° fits perfectly into Porsche’s investment strategy.
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Apparently Schröder has answers to such questions – and Porsche has the necessary money. Schröder’s mission can be derived from the company name. It stands for the global goal of keeping the temperature rise below 1.5 degrees. The founder is inspired by his goal, but not naive. He wants to make a real contribution.
With the company he founded six months ago, he wants to make it possible for everyone in Europe to live climate-neutrally – and as easily as possible. “We are the first company to offer photovoltaic systems, electricity storage systems, charging infrastructure for electric cars and also heat pumps from a single source, from the product to the installation to the green electricity contract,” says Schröder.
Problem solving on site
He sees a bottleneck in the efficient implementation of these technologies. So far, there are only some competitors. There are already energy companies, solar module and heating manufacturers and start-ups on the market. Schröder’s key: All needs relating to electricity, heat and mobility should be met by experts on site.
The start-up has already collected around 100 million euros from a handful of well-known investors who do not want to be named. In order to build up advice and service, 1Komma5 ° purchases mostly from larger craft companies. Schröder’s start-up has already taken over five electrical installers with a total turnover of 40 million euros. By the end of 2022, total sales should be at least 150 million euros.
The craft businesses sacrifice their independence, but get shares in the start-up and access to networking as well as software and hardware. The aim is to make the complex processes efficient for customers and to accelerate the energy transition overall.
The all-round solution for a single-family home costs around 50,000 euros. At first glance this sounds more like something for more affluent customers, but Schröder assumes that the investment will pay for itself within 15 years through energy cost savings alone. But there is already a clear CO2 conscience.
The multiple founder sits unpretentiously in a T-shirt in his study in a dignified old Hamburg villa during an interview. He’ll have to vacate it soon. The original equipment is already piling up in the back corner. Because in a few months the first offspring will come and the entrepreneur will have to move from the future children’s room to the basement of the villa not far from the Inner Alster. Schröder emphasizes that he wants to lead his youngest entrepreneurial baby in the long term: “1Komma5 ° is the quintessence of everything I’ve done so far.”
And that’s not exactly a little. The self-taught artist founded his first start-up at the age of 24, and at the age of 28 he built today’s Sonnen GmbH (at that time it was called Sonnenbatterie GmbH) in Bavaria with almost 15 employees. He traveled to the USA for the manufacturer of electricity storage systems. The native of Cuxhaven was 30 years old and was approached by Tesla boss Elon Musk at an event because the electric car pioneer was already working on a house battery as a stationary energy storage device.
Headstrong mind and visionary
The chemistry between the two was right: for Musk, the energetic young entrepreneur then built up Tesla’s Germany business in the early phase from the end of 2013 to the end of 2015. At that time he was responsible for the introduction of the Model S and built showrooms in the city centers.
Schröder presented the first supercharger from the electric pioneer during the diesel crisis, when Tesla was still smiled at in this country. Under his leadership, Tesla hired 200 employees in Germany and increased sales to 200 million euros.
With the presentation of the stationary energy storage “Powerwall” from Tesla, he came into contact with the founders of Sonnenbatterie GmbH again in 2015. He then took his core team from Tesla and returned to Sonnen. “We saw the opportunity to turn Sonnenbatterie GmbH into a real global player with the attention of Elon’s lithium battery power wall”, the entrepreneur explains the step.
With his own money he joined Sonnen as a small partner and managing director. “Die Zeit” then called him “Sun King”. His team raised $ 200 million. Subsequently, the oil multi Shell expressed its interest in a takeover. When Schröder realized that the other shareholders wanted to sell, he got out beforehand.
The idiosyncratic spirit even accepted an 18-month ban due to a non-competition clause as a condition. “I’ve made enough money. But it was never about that for me, ”emphasizes Schröder. Companions say that he left millions of euros behind when he switched to Tesla and Sonnen, but that he remained financially completely independent. He did not simply remove his suspension, but together with a partner he set up the fintech CAPinside, an online comparison portal for investment funds. In summer 2020 he sold it to Universal Investment.
“I was then free again in my favorite market,” says Schröder. Apple-style showrooms are now to attract attention to his start-up in downtown Hamburg. “Living CO2-neutrally will be cool,” Schröder is convinced.
In any case, his vita and his visions made an impression on the Porsche CFO. Meschke is enterprising and, with Porsche Ventures, invests around 250 million euros in 30 start-ups and six tech funds. In his main job as CFO, Meschke can only dream of the dynamism and freedom of these founders.
His favorite project, an IPO of the VW subsidiary Porsche AG based on the example of Ferrari at Fiat, has been worked out in the drawer for months. But the Porsche family hesitates. Corporate reason also applies to the best-paid employees.
The sports car manufacturer leaves it open whether 1Komma5 ° is more than just a financial investment for Porsche. Schröder, on the other hand, can already imagine a lot, including an IPO in a few years’ time. Schröder also believes in the power of the capital market to achieve the climate goals.
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