The Munich startup's crowdinvesting campaign on Green Rocket was so successful that 80 percent of the original funding volume was reached within a very short time. Pioneering power subsequently increased the funding limit to €750,000, but this goal was also reached after just 30 hours. With this new capital, the startup plans to further strengthen its sales and development team and thus achieve its corporate goals more quickly.
Pioneering power is developing an innovative solution combining hardware, software, and services to enable, for the first time, economical, legally compliant, and operator-friendly peer-to-peer electricity trading of self-generated energy between citizens and/or businesses. This aims to increase the proportion of energy consumed locally, provide more people with access to affordable, renewable energy, and enable the efficient and profitable operation of existing and newly installed photovoltaic systems.
Affordable green electricity for everyone
When asked whether there are similar solutions already on the market, co-founder Andy Eberhardt in the Interview with Munich Startup:
"Yes, there are already energy-sharing solutions on the market. Our advantage over these is that we can actually share local electricity, and not just virtually or through balancing. Instead of gray or mixed electricity, real renewable energy is shared in our electricity community. And it's significantly more financially attractive than our competitors. Thus, our business model benefits not only homeowners with photovoltaic systems, but also less well-off people without their own home or their own generation system from affordable and genuine green electricity."
Already in September, the Munich startup was able to seven-figure late-seed investment round The investors at that time included Climate tech investor EIT InnoEnergy on board.
