Munich-based company Reshape Energy has raised five million euros in a funding round. The funds come from Vireo Ventures, PostScriptum Ventures, the founding team itself, and industry insiders. With this capital, the startup wants to 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 energy in Germany and account for up to 40 percent of CO2 emissions. Rising energy prices and regulatory requirements are increasing pressure on property owners. The startup therefore offers a platform that integrates assessment, planning, financing, implementation, as well as ongoing management and optimization.
Andrew Mack, CEO of Reshape Energy, explains:
“Today’s market for energy services for buildings is fragmented and inefficient. Property owners are forced to deal with a patchwork of providers, manual processes, and limited access to financing, which makes energy optimization complex and costly. Our strategy focuses on acquiring and integrating companies from across the building energy supply value chain to provide our customers with a one-stop 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 built successful companies such as Octopus Energy’s Germany business or Verivox.
Expansion through acquisitions
The company has already made two strategic acquisitions: an energy consulting company and a company for planning, installation, and maintenance of solar systems. These acquisitions are intended to increase operational efficiency and ensure high quality standards. The initial focus is on the German market, before expansion to all of Europe is to follow.
“By equipping these companies with cutting-edge digitalization tools, optimized processes, access to capital, and strategic direction, we are creating a new category of energy service companies that can provide property owners with unparalleled added value,”
Mack continues.
Mischa Wetzel, partner at Vireo Ventures, also emphasizes Reshape Energy’s innovative strength:
“Reshape Energy is pursuing an innovative approach to delivering energy services for buildings, and we are delighted to support the company’s continued growth. The comprehensive industry expertise and commitment to sustainability are a perfect fit for our investment strategy. We look forward to seeing how the company achieves its ambitious goals and makes an important contribution to the energy transition.”
