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Investment Firm
Overview
Enpal is a Berlin-based company that provides all-in-one renewable energy solutions consisting of solar panels, battery, wallbox, heat pump and energy management system for customers across Germany and Italy.
Founding and early history
Enpal was founded in 2017 by Mario Kohle, Jochen Ziervogel, and Viktor Wingert. The company received early backing from Lukasz Gadowski, the prominent entrepreneur and venture capitalist, and several board members of the Zalando fashion conglomerate.
Enpal’s co-founders initially developed a sales-based business model, where end-users could purchase PV systems. Early market research suggested that a lease model would attract more uptake from customers who didn’t want the hassle of high investment costs and maintaining the solar system by themselves.
The company settled on a 20-year lease term, which proved wildly successful during the first few years of its existence. Its lease agreements require no upfront payment from the customer and include installation, insurance, maintenance and other services.
Rapid growth and expansion
For most of its history, Enpal focused on the German market, first around its hometown of Berlin and later throughout the whole country. During the late 2010s and early 2020s, the company opened several satellite offices in an effort to provide responsive, localized sales and service to customers across the country.
In 2021, Enpal opened a state-of-the-art training center for solar PV installers, where it trains its rapidly growing team of craftsmen. The company now has more than 200 local installer teams, whose members make up the bulk of Enpal’s employee roster, and a robust, efficient supply chain.
Enpal’s key backers have included major impact investors and climate-tech venture firms, including Princeville Climate Technologies, Softbank Vision Fund II, TPG Rise Climate, HV Capital, The Westly Group, and Activate Capital. Co-founder Mario Kohle remains a managing director of the company. Fellow co-founders Jochen Ziervogel and Viktor Wingert (the current Chief Investment Officer) remain deeply involved as well.
Enpal has won a number of awards over the years, including first place in the German Sustainability Prize Next Economy Award 2022, first place in the 2023 Smart Home Germany Awards, a 2023/2024 Stern Companies of the Future award, Die Welt #1 Service Champion in Customer Service Award, and KfW Award for Entrepreneurs 2022. The Enpal app was also awarded as Germany’s best solar management app. The company has also been among Germany’s fastest-growing companies in 2022 and 2023 based on the FT1000 ranking.
Enpal today
Today, Enpal has installed more than 60,000 solar PV systems across Germany and Italy.
As of late 2022, Enpal is recognized as the market leader for solar PV installations in Germany. The company’s 2022 revenues exceeded 400 million euros on a headcount of more than 1,000 employees.
After pivoting away from the sales model and focusing on leased systems for most of its history, Enpal added back a sales option in 2023 to accommodate customers who want to buy their solar solution. Either model can save the customer tens of thousands of euros over the course of a system’s 20- to 25-year useful lifespan, according to company data.
Enpal has also diversified its product offerings in recent years. It now offers all-in-one renewable energy solutions consisting of solar panels, battery, wallbox, heat pump and energy management system.
Highlights
2017
Energy
1001-5000
2
1
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Seed
N/A
Location
Europe
Contact Information
Social
Profile Resume
Enpal, established in 2017 and headquartered in Europe., specializes in Seed investments across Energy Storage, Chemical, Battery, Power Grid, Renewable Energy, Energy, Solar, Clean Energy, Wind Energy. Their recent investments include theion, Entrix, Pelion Green Future. Among their most notable exits are theion and Entrix. Explore their portfolio in detail, see who is connected to them, and find their contact information on our platform.
Funding Timeline
2
38
0
Funding Rounds
2
Enpal has raised 2 rounds. Their latest funding was raised on Sep 11, 2023 from a Corporate Round - theion round.
Annouced Date | Transaction Name | Number of Investors | Money Raised | Lead Investor |
---|---|---|---|---|
Sep 06, 2023 | Seed Round - Entrix | - | 0 | - |
Sep 11, 2023 | Corporate Round - theion | - | 0 | - |
Investors
42
Enpal is funded by 42 investor(s). Bank of America and Barclays Kantor are the most recent investors.
Investor Name | Lead Investor | Funding Round | Money Raised |
---|---|---|---|
Credit Agricole CIB | No | Debt Financing - Enpal | 1203.1M |
CPP Investments | No | Debt Financing - Enpal | 1203.1M |
Barclays | No | Debt Financing - Enpal | 1203.1M |
Bank of America | No | Debt Financing - Enpal | 1203.1M |
Fund raised
2
Susa Ventures has raised a total of $590M across 6 funds, their latest being Susa Ventures Opportunities II. This fund was announced on Aug 30, 2021 and raised a total of $250M.
Annouced Date | Fund Name | Money Raised |
---|---|---|
May 10, 2013 | OTPPLESS | 1.0M |
May 11, 2013 | OTPPLESS | 1.0M |
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