Start-up 1Komma5 Grad takes over Swedish solar provider

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

The start-up 1Komma5 Grad is taking over the second-largest Swedish solar provider Cellsolar, according to the Handelsblatt reports. Both companies are active in the field of climate-friendly energy. The acquisition increases 1Komma5 Grad's turnover to 100 million euros. It is not known how much the Hamburg-based start-up paid for the takeover.

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 takeover 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 that are designed to enable CO2-free living. The company invests in craft businesses in the fields of photovoltaics, heat pumps, energy storage and charging infrastructure in order to provide advice and installation for customers. Within a year, the start-up has taken over seven craft businesses. The aim is to have 80 businesses by 2030. Schröder also aims to generate a turnover of 150 million euros by the end of the year.