1Komma5° Raises €70 Million as Its I.P.O. Waits
Trending Topics Jakob Steinschaden
1Komma5° raised €70 million instead of listing. The money is going into its AI energy system as the IPO waits.
Based on reporting by Trending Topics, Jakob Steinschaden — read the original for the full story.
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1Komma5° has gone back to investors for more cash while its stock market plans stay on ice. The Hamburg energy unicorn raised €70 million from existing backers and a new one, the Japanese clean tech fund Marunouchi Innovation Partners, or MIP. The company says it is now valued at $1.35 billion, about €1.2 billion.
Most of that fresh money is meant for Heartbeat AI, 1Komma5°’s software system for managing household energy gear. It links rooftop solar panels, home batteries, heat pumps, air conditioners and wall boxes, then connects them to the power market. Next year, the company plans to put more than €100 million into the system.
The pitch is simple enough: make the home part of the electricity market instead of just a bill payer. 1Komma5° says Heartbeat AI already pools more than one gigawatt of flexible capacity and is aiming for 20 gigawatts by 2030. Annualized revenue for the software recently reached about €30 million, nearly twice the level of the previous year.
Germany’s policy shift is giving the company a tailwind. With the planned phase-out of feed-in tariffs for rooftop solar, demand has been rising, and orders in Germany jumped by almost 50 percent in September alone. Philipp Schröder, the chief executive and co-founder, said Heartbeat AI will take over the role once played by fixed statutory remuneration in a free market.
The broader business is growing too, at least on paper. 1Komma5° expects about €700 million in revenue for 2026, up 35 to 40 percent, and about €40 million in operating EBITDA from its core hardware business. It says it employs about 3,000 people at more than 80 locations in seven countries and has installed more than 300,000 controllable energy systems. Still, the IPO is not back on the calendar. The company scrapped a planned Nasdaq listing last year because of U.S. energy and trade policy, and Schröder says any new attempt depends on next year’s performance.
The company’s valuation has barely budged since 2023, when it was already worth more than €1 billion. And the numbers show why patience is being tested: in 2024, 1Komma5° missed its revenue target by about €200 million. Meanwhile, rivals are simply bigger. Enpal expects more than €1.3 billion in revenue this year, and Thermondo is targeting €275 million.
My take — AI-written commentary, not fact-checked reporting
This is what European climate-tech financing often looks like: raise again, wait again, promise the IPO later. MIP’s arrival may help, but a company that missed targets by €200 million does not get extra credit for mood music. The market loves energy software until it has to read a spreadsheet.
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