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Founder Philipp Schröder: billion-dollar business with solar systems and heat pumps


Christoph Neumann / 1KOMMA5°

The energy start-up 1Komma5° is working towards its IPO: around two and a half years after it was founded, the Hamburg company received capital from a US pension fund for the first time.

Major US investor Hamilton Lane also participated in the company's largest financing round.

In the largest round to date, the start-up raised 215 million euros from investors in June 2023.

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“The entry of these institutional investors is the start of a larger round of financing in order to be prepared for a possible IPO,” said company boss Philipp Schröder to SPIEGEL.

The money collected gives his company the necessary scope to carry out the climate-neutral conversion of millions of buildings.

1Komma5° is aiming for an IPO in 2025.

The company offers its customers solar systems, heat pumps, electricity storage and wall boxes and networks these components with each other.

Europe's solar industry is currently fighting against cheap competition from China.

So far the government has not been able to agree on a funding concept.

Last week, the solar company Meyer Burger announced that it was preparing to close its factory in Freiberg in Saxony.

“If Meyer Burger has to give up its module production in Saxony, we are ready to help,” said Schröder.

He could imagine at least saving module production and securing as many jobs as possible.

With its factory in Freiberg, Meyer Burger claims to have the largest solar module production company in Europe.

500 workers are employed at the Freiberg location.

Other manufacturers in the solar industry had also recently threatened to close local plants: China is flooding the market for solar modules with price dumping, and financial support from the state is needed to maintain the industry in Germany.

The traffic light coalition has been discussing a resilience concept for months.

So far without success.