The German energy company 1KOMMA5° has increased its total revenue to approximately 520 million euros (approximately 3.88 billion DKK) in 2024 from approximately 450 million euros (approximately 3.36 billion DKK) in 2023 despite the recession and falling demand for solar panels and heat pumps. The company writes this in a press release.
The organic growth, excluding acquisitions, increased by 36 percent from 360 million euros (approximately 2.69 billion DKK) to 490 million euros (approximately 3.66 billion DKK). At the same time, the company has expanded its presence in Denmark with the opening of a flagship store in Copenhagen.
- Even in the middle of a crisis year and in a shrinking market, we have grown by 36 percent. This is a huge success for our entire team. Despite significant investments in Heartbeat AI, purchasing polysilicon from Germany - which is significantly more expensive than production in Asia - and increasing sales costs, we remain operationally profitable and debt-free, says 1KOMMA5° CEO Philipp Schröder.
After being founded in Hamburg in 2021, 1KOMMA5° now operates around 80 locations worldwide and acts as a ‘One-Stop-Shop’ for intelligent, integrated energy solutions, such as solar power plants, energy storage, heat pumps and charging stations. Since its founding, the company has grown to employ around 2,500 people worldwide.
The company plans to invest 100 million euros (approx. DKK 746 million) in the expansion of its software business around Heartbeat AI, which serves as Europe's largest virtual power plant for private customers. In November, 1KOMMA5° announced the spin-off of Heartbeat GmbH as its own subsidiary under the leadership of CTO Barbara Wittenberg and CPO Jannik Schall. The goal is to achieve annual revenue of 10 billion euros from hardware and software sales by 2030.
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