1KOMMA5° has acquired ZEWO Energy and expanded its coverage in Germany’s Bavaria
It will help the company cover Lower Bavaria as ZEWO operates there now as 1KOMMA5° Deggendorf
ZEWO sees this acquisition as enabling it to become a regional market leader
German residential solar rooftop installer 1KOMMA5° has acquired a Bavarian solar systems and power storage company ZEWO Energy that it says expands its presence in Bavaria to 7 locations. It now operates 75 locations globally.
Founded in 2020, ZEWO with its 30-member team has implemented over 1,000 projects and recorded double-digit millions in sales. It now merges with 1KOMMA5° to operate as 1KOMMA5° Deggendorf.
“With this merger and the combination of photovoltaics, power storage, heat pumps, Heartbeat AI and the company's own dynamic electricity tariff, we want to become the regional market leader. 1KOMMA5°'s experience with over 40 locations in Germany will help us to quickly optimize our processes in order to drive the energy transition forward,” said ZEWO Co-founder Patrick Zeitler.
1KOMMA5°’s product portfolio comprises individually configurable energy systems comprising solar panels, power storage, heat pumps and wall boxes. All of these can be combined into an integrated overall system using its intelligent energy platform Heartbeat AI. This enables its customers to achieve significant cost savings with 1KOMMA5°'s dynamic electricity tariff, on average up to 7 euro cents per kWh, it claims.
With this merger, ZEWO’s product portfolio also expands to cover heat pumps to offer a complete system from a single source.
Regarding the acquisition, 1KOMMA5° Co-founder and CEO Philipp Schröder said, “The interplay of high-tech and regional craftsmanship remains unique on the market and we are pleased to now be able to cover Lower Bavaria individually as well.”
Beyond Germany, 1KOMMA5° also operates in Sweden, Denmark, Finland, the Netherlands, Spain and Australia. In February 2024, it acquired Australia’s energy systems and software company Arkana Energy Group as its largest investment back then.
Last year in June 2023, it became a Unicorn in the financial world with a valuation of $1 billion, within 23 months of its inception (see 1KOMMA5° Is New Unicorn On The Block).
1KOMMA5° had previously unveiled its ambition to venture into solar module manufacturing with 5 GW capacity by 2030. It also offered to buy Meyer Burger’s module manufacturing site in Freiburg (see German Solar Manufacturing Industry Bracing For A Change?).
.png?w=50&fm=png){kind=logo}