The Munich-based company Reshape Energy has raised five million euros in a financing round. The funds come from Vireo Ventures, PostScriptum Ventures, the founding team itself and industry insiders. With this capital, the Startup expand its offering and provide property owners with an all-in-one solution for energy optimization.
Reshape Energy is responding to a growing challenge: Buildings consume around 35 percent of Germany's energy and generate up to 40 percent of its CO2 emissions. Rising energy prices and regulatory requirements are increasing the pressure on property owners. The startup therefore offers a platform that integrates valuation, planning, financing, implementation, as well as ongoing management and optimization.
Andrew Mack, CEO of Reshape Energy explains:
"Today's building energy services market is fragmented and inefficient. Property owners are forced to deal with a patchwork of providers, manual processes, and limited access to financing, making energy optimization complex and costly. Our strategy focuses on acquiring and integrating companies across the entire building energy value chain to provide our customers with a single-source solution."
The founding team, consisting of Alan Clifford, Andrew Goodwin, Andrew Mack, Gerard Reid, Benjamin Stanzl and Markus Wiendieck, has extensive experience in the energy sector and has already founded and expanded successful companies such as the German business of Octopus Energy and Verivox.
Expansion through acquisitions
The company has already completed two strategic acquisitions: an energy consulting firm and a solar planning, installation, and maintenance company. These acquisitions are intended to increase operational efficiency and ensure high quality standards. The initial focus is on the German market, before expanding to the rest of Europe.
“By equipping these companies with state-of-the-art digitalization tools, optimized processes, access to capital, and strategic alignment, we are creating a new category of energy service companies that can deliver unparalleled value to property owners,”
so Mack further.
Also Mischa Wetzel, Partner at Vireo Ventures, emphasizes the innovative power of Reshape Energy:
"Reshape Energy takes an innovative approach to providing energy services for buildings, and we are excited to support the company's continued growth. Their extensive industry expertise and commitment to sustainability are a perfect fit with our investment strategy. We look forward to seeing the company achieve its ambitious goals and make a significant contribution to the energy transition."
