Eon takes over Gridx

The start-up says it plays an important role in the digitization of the power grid. Eon is now buying the founders' shares.

Essen-based energy company Eon is buying Gridx founders David Balensiefen and Andreas Booke's shares, Handelsblatt reports. The Munich-based startup has been working with the energy giant since 2017. Eon has held a majority stake in Gridx since September 2021. Now the founders are also handing over the management. Tim Steinmetz and Tobias Mitter will take on this role at the beginning of next year.

The Gridx founders will continue to work with the new managing directors until the first of April, after which they will remain as consultants. The start-up will continue to operate as an independent company. However, Eon will be involved for further financing. The goal is to more than double sales.

The company, founded in 2016, offers digital control for the power grid. This is particularly important because of the mix of electricity that nowadays comes from many sources such as wind turbines and photovoltaic systems, and no longer just from large power plants. New consumptions such as electric cars and heat pumps also play a role. Eon operates over 800,000 kilometers of electricity and gas networks in Germany. With the help of Gridx, the company wants to take precise countermeasures and anticipate when congestion is imminent.