New investor for Think RE

The climate start-up receives support from the Technologiegründerfonds Sachsen. Think RE wants 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 advance its own RE Wave platform, through which companies and suppliers of green electricity can conclude long-term supply contracts.

The so-called power purchase agreements (PPAs) are long-term electricity supply contracts designed to allow renewable power producers to bypass subsidized markets and supply large companies directly. So far, such decentralized solutions have often failed in Germany due to the lack of a platform that brings all the players together. With RE Wave, Think RE now wants to change that. "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 light of the investment.

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

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