Co-Power has closed a €6.4 million seed financing round. The round was led by Cherry Ventures and also included Abacon Capital, Aurum Impact, Flixfounders as well as experienced investors from the energy sector.
Co-Power aims to support European industrial companies through affordable, decentralized energy supply out of the energy cost crisis. The startup installs solar systems and battery storage directly on its customers' premises – with no upfront costs or ongoing expenses for the companies. This is made possible by an Energy-as-a-Service model in which Co-Power handles financing, installation, and operation.
Goal: Europe's industrial VPP
With its solution, the startup claims to reduce energy costs for industrial companies by up to 50 percent. At the same time, the systems increase the resilience of sites to electricity price volatility and supply bottlenecks. The batteries can also trade energy between companies and markets, contributing to grid stabilization.
In the long term, Co-Power plans to build a virtual power plant (VPP) for European industry. Through this network, locations will share surplus energy and flexibility to achieve the lowest possible prices. The startup aims to not only respond to high energy costs but also provide Europe's industry with a new foundation for growth and innovation.
Co-Power is run by founders Jan Krüger and Kilian Zedelius. Krüger brings experience in project development and energy finance, while Zedelius previously worked in McKinsey's energy practice. Together, they combine technical expertise with a deep understanding of the industry's economic challenges.
Co-Power has already launched its first projects in various sectors, including food processing, logistics, and mechanical engineering. Its target group is energy-intensive companies that can benefit from a cost-efficient, decentralized power supply. With the fresh capital, the startup aims to further scale its model and contribute to the green transformation of European industry.
