It is a significant milestone in the company's still young history: In the Series A financing round, First Imagine! (FI!) is investing a high seven-figure sum in PIONIERKRAFT GmbH. FI! is a European venture capital company that promotes the transition to sustainable living and supports innovative cleantech technologies. FI!'s investment portfolio covers various sectors from energy production and energy consumption to new sustainable materials.
As an established investor in the cleantech sector, First Imagine! sees great growth potential and a strong market position for the Munich-based company, which was founded in 2019. The investment underlines the confidence in PIONIERKRAFT's innovative energy sharing solution, which plays a decisive role in driving forward the energy transition.
Growth potential in the market
"With our founding in 2019, we recognized the opportunity to create a key building block for a billion-dollar energy market and act as a catalyst for the energy transition in small and medium-sized apartment buildings. The Series A financing round will enable us to scale our network of specialist partners and mass produce our latest energy sharing solution to play a leading role in driving real change in the energy sector. I am extremely proud of the entire PIONIERKRAFT team, which has made our current position possible with many right decisions and hard work," says Andreas Eberhardt, CEO of PIONIERKRAFT.
With the fresh capital, PIONIERKRAFT plans to further expand its position in the still underdeveloped market of solar power supply for smaller apartment buildings with up to 20 parties in order to further strengthen its market presence throughout Germany. The innovative hardware and software solution closes the supply gap between single-family homes and large tenant electricity systems with self-generated solar power. This enables specialist partners to independently sell solar solutions for almost 40% of the German housing stock.
"The partnership with PIONIERKRAFT is an exciting step forward in our mission to drive sustainable development and facilitate the transition to renewable energy. The company's innovative energy sharing solution addresses the large multi-family housing sector in Germany, which has been virtually excluded from the otherwise booming rooftop solar installations. This gap needs to be filled and we believe that PIONIERKRAFT offers exactly the solution the market needs. We are excited to support the company's growth and are confident that together we can accelerate the transition to a more sustainable energy future for Europe," says Alexander Starchenko, Managing Partner of First Imagine!
The funding will also enable the company to finalize the development of the next generation product PIONIERKRAFTwerk 3.0, which will set new standards in terms of performance and user-friendliness. This will make the offering even more attractive for landlords and pave the way for the decarbonization of the German residential building stock.
Advisory Board: Additional expert know-how from the energy sector
Hartmut Michels, CEO of standata GmbH, was elected to the Advisory Board by the existing shareholders. He has more than 25 years of specialist and management experience in the mechanical and electrical engineering industry, including more than 20 years at Germany's leading companies for operating and heating cost billing and the manufacture of metering devices for consumption recording. In particular, his many years of experience in the housing industry service environment will support PIONIERKRAFT in the further rollout of its PIONIERKRAFTwerke in apartment buildings. From Hartmut Michels' point of view, it is clear: "The PIONIERKRAFTwerk is a big step towards the Home Energy Management System (HEMS) and thus the pacemaker for the energy transition in apartment buildings."
Successful deal closed with M&A advice
The deal was supported by Quantum Partners, an independent M&A consultancy based in Munich that specializes in corporate financing and growth capital. They provided PIONIERKRAFT with significant support during the transaction.
About PIONIERKRAFT
PIONIERKRAFT was founded in Munich in 2019 by Andreas Eberhardt and Nicolas Schwaab. With its innovative combination of hardware, software and services, the young company offers for the first time a way to share self-generated energy locally and profitably with others from the first party. Following successful pilot projects in 2020, PIONIERKRAFTwerk quickly established itself on the market in November 2021 and is now being used in hundreds of projects throughout Germany. Andreas Eberhardt, co-founder of PIONIERKRAFT, was recognized as one of the most successful young entrepreneurs in the 2021 "Forbes 30 Under 30 Europe Ranking" for his vision of "providing everyone with affordable and clean energy". The company continues to drive this vision forward by collaborating with numerous partners from the solar industry and the housing sector.
About First Imagine!
First Imagine! is a European-based venture capital firm focused exclusively on investments in the cleantech sector. First Imagine! specifically targets early commercialization stage start-ups, primarily in Europe (EU, UK, Nordics) and Israel. As a member of the British Venture Capital Association and the International Renewable Energy Agency (IRENA) Coalition for Action, First Imagine! is part of the extensive European network in the innovation and start-up ecosystem. First Imagine! aims to support start-ups in the energy transition to grow and thrive while contributing to a more sustainable future.
Your press contact:
PIONIERKRAFT GmbH
Agnes-Pockels-Bogen 1
80992 Munich
Daniela Schwendy
presse@pionierkraft.de
www.pionierkraft.de