GreenCom Networks AG, whose research and development center is based in Sophia Antipolis, announced the completion of its latest € 12 million financing round, led by Shell Ventures and funded by Energy & Environment Investment (“EEI”) and existing investors is supported.
The investment enables GreenCom to expand its strategy of international growth and further expand its pioneering position as the leading IoT company for residential energy in Europe.
Shell Ventures, Shell’s corporate venture capital arm, and Japanese venture capital firm EEI have joined existing investors such as Centrica, Future Energy Ventures from E.ON, Munich Venture Partners and SET Ventures to further advance GreenCom’s cutting-edge technology solutions Connect distributed assets digitally and offer a leading IoT platform for energy management at home.
Among other things, the GreenCom platform is able to connect, control and optimize household appliances such as solar PV systems, battery storage systems, heat pumps and chargers for electric vehicles across a range of different models and manufacturers.
Based on its highly scalable and secure software technology, GreenCom enables its customers to use new customer-oriented service models such as heating as a service, flexibility revenues, energy flat rates, dynamic tariffs, energy management for private households or energy communities.
With GreenCom, end users can easily and conveniently manage their energy consumption, optimize costs and share energy with their communities via a single platform.
GreenCom is already working with various companies to offer new services in a digital energy world like Centrica. For the British utility giant, GreenCom supplies its British customers with the Home Energy Management platform. In addition, GreenCom connects and manages over 3 MW of decentralized energy capacities for a Smart City District in Cologne with almost 700 apartments. For its customer RheinEnergie, GreenCom connects systems such as solar PV, battery storage, heat pumps, heating shovels, storage tanks and district heating and optimizes the energy flow.
The new funds from Shell, EEI and existing investors will be used to strengthen GreenCom’s leadership position in energy IoT in Europe while using the new investors to penetrate markets outside of Europe and GreenCom with new manufacturers of heat pumps, inverters and to connect battery storage systems in Asia.
“We were very impressed with the quality of the technology platform and the management team at GreenCom.” says Jürgen Hornman, Investment Director at Shell Ventures. “GreenCom’s ability to connect, provide insights, and control distributed energy systems such as solar PV, battery storage, EV chargers and heaters from various manufacturers, improves the ability of a service provider to offer end-users, energy communities and utility companies integrated solutions for home energy fast growing group of prosumers. Christian and the team have also found innovative ways to market them through large-scale partnerships. We look forward to helping GreenCom with its rapid scaling and internationalization. “
Shuichiro Kawamura, founder and CEO of Energy & Environment Investment, says: “GreenCom offers the platform for the urgently needed energy systems for the coming decade. Their products intelligently enable different types of distributed assets by connecting to and coordinating with other assets through their cloud. We look forward to connecting GreenCom with our network partners in Japan such as large utility companies or operators and manufacturers of heat pumps, inverters and battery storage systems. We are excited to join one of the most progressive technology companies enabling energy systems transition. “
Christian Feisst, CEO of GreenCom Networks, states: “With Shell Ventures and EEI we have found two excellent new investors for the future: Shell offers extensive experience in the decentralized energy industry with a track record of effective investments. EEI, the only venture capital firm in Japan focused on the cleantech sector, provides a strong gateway and in-depth knowledge of the energy and distributed asset manufacturing landscape in Japan, one of the world’s fastest liberalizing and “greener” power markets. ”
Via GreenCom networks
GreenCom Networks is a leading energy IoT company with offices in Munich and Sophia-Antipolis in France. GreenCom has been developing the energy system of the future since 2011. Via the Energy Information Brokerage Platform (eibp), GreenCom integrates distributed assets such as solar PV systems, battery storage, chargers for electric vehicles and heat pumps. GreenCom is based on its leading platform and enables white label end customer services such as energy communities and energy flat rates. GreenCom also offers energy suppliers and manufacturers of energy-relevant devices the optimization and visualization of energy flows in private households.
About Shell Ventures
Shell Ventures is the corporate venture capital arm of Royal Dutch Shell plc (“Shell”). Shell Ventures has offices in Europe, the US, India and China and invests in innovative technology companies, business models and growth games to drive the development of energy solutions and new technologies that have the potential to create significant delivery value in Shell. Shell Ventures has continued Shell’s venture capital tradition since 1996, focusing on investments in renewable energy systems (including solar, wind, connected energy and storage), new fuels for transport (including hydrogen and biofuels), and mobility solutions (including electric mobility, related) mobility and freight), oil and gas technologies (including chemicals) and digital innovations where relevant to energy. Shell Ventures, together with other corporate investors and venture capital funds, invests in early-stage and late-stage companies (growth capital).
Energy & Environment Investment, Inc. (“EEI”) was founded in 2006 as the only venture capital firm focused on the environmental and energy sectors in Japan. Since its inception, EEI has actively invested and supported the business growth of start-ups in the fields of environment and energy-related services and technologies. EEI contributes to innovation and business creation in the environmental and energy sectors and promotes the success of start-ups that will have a significant impact on the realization of a sustainable economy, environment and society worldwide.