AQTON SE, Innogy SE and LG Electronics participated in Kiwigrid’s third and so far, largest financing round including a double-digit million euro investment. Kiwigrid operates an Energy IoT industry platform and develops products building on that platform.
While AQTON significantly increased its share, the Startup attained Innogy and LG as new investors. The existing venture capital Investors High-Tech Gründerfonds and Innogy Venture Capital divested their entire shareholdings within this financing round.
Quarton International acted as the exclusive investment banking advisor to Kiwigrid. The transaction brings together strategic partners from different industries who will strengthen Kiwigrid’s international distribution power and opens further possibilities for cooperation regarding new products.
Kiwigrid GmbH, a leading Energy IoT solution operator, addresses “the greatest challenges for the future energy network: connectivity, interoperability and smart communication of decentralized energy systems. For this purpose, an industrial platform is required which integrates, controls and automates the generation, consumption and storage of decentralized energy systems. Together with our investors, we want to drive the development of this platform worldwide and thus establish a standard,” says Dr.-Ing. Carsten Bether, founder and CEO of Kiwigrid.
AQTON SE has profound knowledge and decades of experience in developing and leading industrial companies. “The future of the energy market is decentral. By expanding its stake in Kiwigrid, AQTON is committed to a secure industrial standard for the integration of decentralized energy systems into the power grid. This is how we create the prerequisites for the optimal use of renewable energy,” says Stefan Quandt, entrepreneur and owner of AQTON SE.
innogy SE supplies 23 million customers with energy, operates distribution networks with a total length of 574,000 kilometers and has decentralized plants for the generation of energy from regenerative sources with a total connection capacity of more than 3,600 megawatts. innogy thus brings competencies in all energy-related value creation stages. “Kiwigrid‘s intelligent solutions exactly meet the needs of our customers: they can efficiently manage their self-consumption and reduce their costs by selling the self-produced electricity from the PV system, or by charging the electric car in their garage,” says Peter Terium, Chief Executive Officer of innogy SE.
LG Electronics is a global frontrunner and innovator in consumer electronics, mobile communications and home appliances. “In addition to our innovative and market-leading products in many other areas, LG Electronics is expanding its portfolio in the energy business, including industry-leading solar panels, battery-based energy storage systems, and energy management solutions. Our investment in Kiwigrid will strengthen our position as a provider of innovative energy solutions enabled by decentralized energy resources and energy IoT platform,” says Mr. Sang Bong Lee, President of LG Electronics and head of its Energy Business Center, explaining the investment in Kiwigrid.
December 20, 2018
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