Exnaton raises fresh capital
20 August 2021 11:40
The Zurich-based ClimeTech start-up Exnaton looks set to secure further growth after successfully raising fresh capital in addition to expanding its user basis. The spin off from the Swiss Federal Institute of Technology in Zurich (ETH) gained Global Founders Capital (GFC), the largest venture capital fund in Germany, as an investor during the seed financing round. This news was announced by Anselma Wörner, COO of Exnaton, in a LinkedIn post, under which Jan Ossenbrink, GFC Partner for Sustainability and ClimeTech, commented: “Me and the team at GFC/GGC are super excited to be part of the Exnaton journey and to help you scale energy communities across DACH and beyond!”.
Exnaton was founded less than two years ago and is headquartered at the Rocket Hub co-working space of the ETH Entrepreneur Club. The start-up has developed the software PowerQuartier, which supports decentralized energy systems in which private individuals are able to buy and sell self-produced renewable energy among themselves.
The software bills energy flows digitally while also dynamically optimizing consumption and supply at a local level. PowerQuartier also offers digital services for energy consumers such as personalized analyses and remote access to resources including battery storage systems. Exnaton sells PowerQuartier to utility companies on the basis of a software-as-a-service model. According to its own information, the start-up, which is an alumnus of the Venture Kick program, has already managed to impress several customers in Switzerland and Austria.
In a press release published on venturekick.ch, Ossenbrink confidently predicted that “decentralized energy systems, meaning intelligently networked solar installations on buildings, battery storage, and charging infrastructure, will be an essential part of the new energy world”. The solution devised by Exnaton creates and operates “real energy communities” and ensures that renewable energy can be marketed in a decentralized manner.
The former CEO of the energy company Energie360°, Kurt Lüscher, and Bastian Schwark, Head of Market Operations at SwissGrid, recently joined Exnaton. In addition, Exnaton has entered into a partnership with SAP, which will ultimately see the PowerQuartier solution integrated into the SAP landscape.