E.ON expands venture capital activities and invests in Thermondo

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E.ON, Germany’s largest enery company, today announced that it futher expands its venture capital activities. As a first step of this new strategy, E.ON has invested in Thermondo (20% equity for a seven-digit investment). The Berlin-based startup was founded in 2012 and helps residential customers to get an efficient and environmentally friendly supply of heat.

Based on an online platform and an in-house developed IT infrastructure, customers can compare a variety of heating system manufacturers and technologies in an easy and cost-effective way. As a result of this process, they can choose and purchase the one that fits their needs. The selected unit is installed by certified technicians from Thermondo. The young company combines the speed and wide product range of an internet company with the outstanding workmanship of experienced HVAC technicians.

Philipp Pausder, co-founder and managing director of Thermondo, stated: “E.ON is the ideal partner to help us reach our ambitious growth targets. We believe that our ability to drive innovation along with E.ON’s innovation expertise and customer base is the right combination for succeeding in dramatically changing energy markets. We’re convinced that the future belongs to IT-based energy solutions,”

Urban Keussen, Senior Vice President for Technology and Innovation at E.ON, said: “Our partnerships with Leeo (…another recnt investment) and Thermondo create promising opportunities for us to offer new and innovative products and services that make our customers’ lives even more convenient and efficient,”