Start-up 1Komma5 Grad acquires Swedish solar provider

According to a media report, the Hamburg-based company is buying shares in Swedish solar technology provider Cellsolar.

Start-up 1Komma5 Grad is acquiring Sweden's second-largest solar provider Cellsolar, as the Handelsblatt reports. Both companies are active in climate-friendly energy. The acquisition will grow 1Komma5 Grad's revenue to 100 million euros. It is not known how much the Hamburg-based start-up paid for the acquisition.

Cellsolar is based in Stockholm and is the second largest solar technology provider in Sweden. The company employs 500 people and installs more than 2000 systems annually. The acquisition of Cellsolar represents the first step abroad for the Hamburg-based start-up 1Komma5 Grad. The next expansion targets are Denmark, Finland, Spain and Italy.

Philipp Schröder founded 1Komma5 Grad in 2021. The start-up provides technologies to enable CO2-free living. The company takes stakes in craft businesses in the fields of photovoltaics, heat pumps, energy storage and charging infrastructure to provide consulting and installation services to customers. Within a year, the start-up has acquired seven craft businesses. The goal is to have 80 businesses by 2030. Schröder also aims to generate sales of 150 million euros by the end of the year.