New investor for Think RE

The climate start-up receives support from Technologiegründerfonds Sachsen. Think RE intends to use the money to expand its own platform for long-term electricity supply contracts.

Technologiegründerfonds Sachsen (TGFS) is investing in Think RE. The start-up based in Wurzen, near Leipzig, wants to use the money to develop its own platform RE Wave, which companies and providers of green electricity can use to conclude long-term supply contracts.

Power purchase agreements (PPAs) are long-term electricity supply contracts designed to enable producers of electricity from renewable energy sources to bypass subsidized markets and supply large companies directly. To date, such decentralized solutions in Germany have often failed due to the lack of a platform that brings all players together. Think RE now wants to change this with RE Wave. "Think RE helps both sides to find each other and, with RE Wave, creates significantly more transparency in the design of relevant contracts," said Think RE CEO Steffen Hundt in view of the investment.

Hundt and his partners Stephan Dinse and Mataza Golzari all come from the energy sector and have worked as managers and consultants for various companies in the industry. Hundt and Dinse founded Think RE in 2019, Golzari soon joined them.

The TGFS invests in tech start-ups that are based or have an operating facility in Saxony. It was initiated by the federal state itself, with money coming from the European Regional Development Fund, the Leipzig, Dresden and Chemnitz savings banks and Landesbank Baden-Württemberg, among others.