Co-Power receives 6.4M euros to reduce industrial energy costs

Munich-based cleantech startup aims to strengthen the resilience of European industrial companies with battery storage and solar systems

Munich, 10 June 2025 - The startup Co-Power, which specializes in decentralized energy infrastructures, has raised 6.4 million euros in a financing round. The company intends to use the capital to accelerate the expansion and implementation of its photovoltaic and battery storage solutions for industry in Europe.

The round was led by Berlin-based venture capitalist Cherry Ventures. Other participants include the energy and impact-focused family offices Abacon Capital and Aurum Impact. Support also comes from a number of business angels with industry experience, including the founders of Flixbus, former Encavis CEO and TotalEnergies Supervisory Board member Dierk Paskert, DZ4 founder Tobias Schütt and Constantin Eis, former CEO of LichtBlick and current CEO of CMBlue.

Energy prices as a locational disadvantage

The background to the investment is the tense energy cost situation in Europe. According to Co-Power, industrial electricity prices on the continent are more than twice as high as in the USA or China - with significant consequences for competitiveness. The reasons for this include the high volatility of renewable energies and the lack of efficient storage solutions.

Renewable energy is already available in abundance - but it can only become a competitive advantage with a flexible storage and distribution strategy

Jan Krüger, co-founder of Co-Power

Together with co-founder Kilian Zedelius, he is pursuing the goal of driving forward the industrial energy transition in Europe locally and pragmatically. With an energy-as-a-service model, the company offers companies the opportunity to operate solar systems and battery storage directly at their own site. This should also work without having to make any investments of your own. Co-Power takes care of planning, installation, operation and maintenance itself. The systems are continuously optimized to enable savings of up to 50 percent on electricity costs.

From the solar system to the virtual power plant

In addition to hardware development, the team is also working on an intelligent software solution: an industrial virtual power plant (VPP). This is a digital network of decentralized power generators and storage systems that automates and optimizes energy flows. The aim is to make wind and solar power available and efficiently usable at all times.

Co-Power brings an urgently needed solution to the market - and at a crucial time

Filip Dames, Founding Partner at Cherry Ventures

Investor Cherry Ventures believes Co-Power is well positioned to solve a pressing problem for European industry. The integrated approach of decentralized energy generation, storage systems and smart operations management was particularly convincing.

The financing round will be used to roll out the solution quickly across the country. With initial projects and a growing pipeline, Co-Power believes it is well positioned to strengthen the resilience of medium-sized industrial companies and enable a stable, sustainable energy future for Europe's economy in the long term.