Eneco Ventures drives home decarbonization ambitions with investment in 42watt
Rotterdam, 5 January 2024Addressing an important challenge of reducing greenhouse gas emissions at homes, Eneco Ventures is proud to announce its investment in 42watt, a pioneering startup set to transform the retrofitting landscape. 42watt offers a one-stop-shop digital platform for homeowners in Germany to enhance their energy efficiency and home renovation. The investment is contributing to Eneco’s ambitious One Planet Plan, decarbonizing the homes of our customers by 2035 the latest.
Eneco Ventures invests together with existing investors PropTech1 Ventures and BonVenture in an extension to the seed round joining an already reputable existing investor base consisting of Contrarian Ventures, OBI Squared Ventures and angel investors.
Buildings in the European Union contribute a substantial 36% to greenhouse gas emissions, posing a massive barrier to achieving climate neutrality by 2050. In Germany alone, with 19 million residential buildings, doubling the annual retrofitting rate to over 750,000 buildings each year is essential to meet this ambitious goal. In response to this challenge, Eneco Ventures is thrilled to support 42watt, an early-stage startup that facilitates the retrofitting process by connecting homeowners with installers and financing providers on a fully digital platform. The platform offered by 42watt simplifies the complex task of retrofitting, providing a streamlined solution for homeowners and contributing to the acceleration of the transition to a climate-neutral building sector.
Jordy Klaassen, Investment Manager at Eneco Ventures, is enthusiastic about the collaboration, stating, "Our investment in 42watt is not just a financial commitment; it's a strategic partnership aimed at driving meaningful change in the retrofitting landscape. By utilizing our in-depth energy market knowledge, engaging our customer base of over 5 million, and further amplifying our established collaboration with LichtBlick, we are confident that this partnership with 42watt will play a pivotal role in advancing climate goals and realizing our One Planet Plan ambitions.”
Dr. Jörg Überla, Co-founder and CEO of 42watt, welcomed the partnership with Eneco, stating: "We are delighted that Eneco is broadening our investor base. Given their focus on decarbonizing their existing customer base, we see a tremendous fit with our mission to reach a carbon neutral building sector.”
Buildings in the European Union contribute a substantial 36% to greenhouse gas emissions, posing a massive barrier to achieving climate neutrality by 2050. In Germany alone, with 19 million residential buildings, doubling the annual retrofitting rate to over 750,000 buildings each year is essential to meet this ambitious goal. In response to this challenge, Eneco Ventures is thrilled to support 42watt, an early-stage startup that facilitates the retrofitting process by connecting homeowners with installers and financing providers on a fully digital platform. The platform offered by 42watt simplifies the complex task of retrofitting, providing a streamlined solution for homeowners and contributing to the acceleration of the transition to a climate-neutral building sector.
Jordy Klaassen, Investment Manager at Eneco Ventures, is enthusiastic about the collaboration, stating, "Our investment in 42watt is not just a financial commitment; it's a strategic partnership aimed at driving meaningful change in the retrofitting landscape. By utilizing our in-depth energy market knowledge, engaging our customer base of over 5 million, and further amplifying our established collaboration with LichtBlick, we are confident that this partnership with 42watt will play a pivotal role in advancing climate goals and realizing our One Planet Plan ambitions.”
Dr. Jörg Überla, Co-founder and CEO of 42watt, welcomed the partnership with Eneco, stating: "We are delighted that Eneco is broadening our investor base. Given their focus on decarbonizing their existing customer base, we see a tremendous fit with our mission to reach a carbon neutral building sector.”