German utility Enercity buys 30% of solar start-up Installion

• German electric utility Enercity AG is obtaining a 30% stake in Cologne-based photovoltaics start-up Installion GmbH to boost its capabilities in the solar industry.

Founded in 2019, Installion makes use of an electronic platform to accomplish setting up help photovoltaic systems, e-charging boxes as well as storage systems. With about 100 staff members, the start-up produces earnings of EUR 4 million (USD 4.57 m) as well as has established ambitious growth targets. The firm intends to quickly expand its existing network of centers, increasing their number to 20 by the end of this year, in a bid to benefit from the unmet demand for setting up abilities in the solar market.

The collaboration with Enercity will provide Installion added power to set up its new hubs even more rapidly as well as therefore make sure the delivery of its PV and also charging box products nationwide.

With the Hanover-based energy, Installion has brought in one more significant financier after the equity capital arm of Dutch Eneco acquired around 30% of the start-up last year as part of a Series A financing round. The remainder is had mostly by the owners Florian Meyer-Delpho, Claus Wohlgemuth and Till Pirnay.

Enercity materials about one million customers with electricity, heating, natural gas and alcohol consumption water as well as offers services connected to e-mobility, decentralised options and also energy efficiency. The investment in Installion will certainly sustain the energy's development strategies in the area of digital as well as decentralised energy remedies.