Reshape Energy
End-to-end solution for transforming building energy performance
The Problem
Real estate owners, including both multi-family residential and commercial real estate, struggle with increasing regulatory pressure, inefficient retrofit solutions, and rising energy costs for their tenants. The market is fragmented, with slow and uncoordinated service providers that make energy optimization renovations complex and expensive. Many projects stall due to financing challenges and a lack of technical expertise. As a result, energy inefficiency persists, lowering property values and increasing operational costs.
The Solution
Reshape Energy is building a next-generation energy services platform to simplify and streamline building energy retrofits. Offering a digitally-enabled, holistic solution, Reshape addresses the full spectrum of customer needs—from initial energy assessment and contracting to financing, implementation, optimisation, and ongoing management. The platform integrates technologies such as solar installations, heat pumps, battery storage, IoT-based energy management, and innovative financing options, significantly reducing upfront costs and enabling efficient, strategic energy management.
Reshape transforms energy management from a cost center into a strategic asset, increasing property values and reducing operational expenses for building owners in both residential and commercial sectors.
Why we invested
Highly Experienced Team: Reshape's leadership comprises seasoned entrepreneurs and renowned industry experts with deep expertise in energy, digital platforms, and finance. The founders include Gerard Reid (Chairman), a leading energy investment banker and member of the WEF Global Future Energy Council; Andrew Mack (CEO), former CEO of Octopus Energy Germany; and Andrew Goodwin, founder of Verivox, Germany's top price-comparison platform.
Scalable M&A Rollup Strategy: Reshape applies a targeted "builder’s capital" rollup approach, acquiring and integrating profitable companies along the energy service value chain into its unified digital platform. This model generates significant operational synergies, enhancing efficiency and scalability beyond what traditional, fragmented market participants can achieve.
With its seasoned leadership team and innovative technology platform, Reshape Energy is positioned to become a leading digital-first energy services company.
Deutsche Sanierungsberatung (DSB)
End-to-end solution for transforming building energy performance
The Problem
Germany’s residential sector is a major contributor to CO₂ emissions, with buildings accounting for around 14% of the country's total emissions. Approximately 30% of heating systems in German homes are over 20 years old, significantly reducing energy efficiency. While the government aims to cut the building sector’s primary energy demand by 80% by 2050, the market remains fragmented. Homeowners often struggle with complex retrofitting processes, disjointed suppliers, and unclear financing options, slowing the adoption of energy-efficient technologies.
The Solution
Deutsche Sanierungsberatung (DSB) simplifies home energy retrofitting through a comprehensive, asset-neutral platform. By evaluating a home's complete energy profile, DSB offers tailored upgrade recommendations, guided by subsidized energy consultants. Operating independently of specific manufacturers, DSB delivers unbiased advice and connects clients with a vetted network of local craftsmen and suppliers.
DSB’s holistic approach includes personalized renovation roadmaps, support in securing state subsidies, and end-to-end project management. This model maximizes energy savings, enhances property value, and significantly reduces renovation complexity—empowering homeowners to cut energy costs by up to 90% and supporting the shift to a net-zero housing stock.
Why we invested
We invested in DSB due to its strong founding team and scalable approach to modernizing the residential energy sector. The team’s track record includes building Germany’s second-largest heat pump company to €30 million in annual revenue within a year. Achieving operative profitability in just four months and scaling rapidly in the competitive B2C market underscores their expertise.
DSB's vertically integrated platform generates diverse revenue streams—from consulting fees and project commissions to potential opportunities in material sourcing and financing. This aligns with our investment strategy of backing companies that drive systemic change in energy markets. DSB’s focus on maximizing state subsidies for homeowners and delivering a seamless renovation experience sets it apart in a fragmented market.
Scale Energy
Maximize the potential of your grid connection
The Problem
The energy transition depends on the widespread deployment of large-scale energy storage to balance supply and demand, integrate renewables and stabilise the grid. However, traditional battery storage projects face significant hurdles, including long development times, high up-front capital requirements and complex regulatory landscapes that slow deployment.
At the same time, industrial sites across Europe and beyond often have unused grid connections - potential capacity that remains untapped due to a lack of expertise, financial incentives and scalable solutions. These sites could play a significant role in decentralising storage and optimising grid performance, but current approaches are failing to unlock this capacity effectively.
Without a more efficient and scalable way to deploy energy storage at industrial sites, the grid will remain vulnerable to volatility, leading to high electricity costs and reduced reliability for Europe's SMEs.
The Solution
By tapping into under-utilised capacity, Scale Energy eliminates the need for expensive and time-consuming infrastructure upgrades, making the deployment of BESS significantly more cost effective. This approach reduces capital costs by up to 30%, accelerates project timelines and ensures long-term, predictable revenue streams through a combination of grid services and on-site energy optimisation.
For industrial customers, this means lower energy costs, increased resilience to price volatility and grid instability, and the ability to actively participate in the energy transition without upfront investment or operational complexity. By enabling these companies to monetise their grid connections, Scale Energy turns passive infrastructure into an active source of economic and environmental value.
The model is capital efficient, with battery systems financed through dedicated SPVs backed by institutional asset investors. This structure ensures scalable deployment without exposing industry partners to financial or technical risk, while helping larger funds to efficiently deploy capital in green assets.
Why we invested
Electric buses and trucks are expected to grow exponentially in Europe, Latin America and the US by 2030. This growth is being driven by environmental concerns, supportive government policies and significant technological advances. ZeroMission is strategically positioned to capitalise on this trend by offering a robust solution that addresses the key challenges of operating electric fleets.
ZeroMission's platform is characterised by its open, vendor-neutral and interoperable design. This approach enables seamless integration without the constraints of vendor lock-in, both in terms of charging infrastructure and vehicles.
As fleet operators are expected to manage mixed fleets in the coming years, ZeroMission's platform is designed to accommodate this diversity, enabling operators to effectively manage and optimise their fleets.
Our investment in ZeroMission is in line with our commitment to sustainable and innovative mobility solutions. We are confident that ZeroMission will play a key role in the global transition to electric vehicles, delivering significant environmental benefits and operational efficiencies.
Artem
Enable cross-border emissions traceability to comply with National Carbon Tax Schemes
The Problem
With the EU's Carbon Border Adjustment Mechanism (CBAM) coming into force in January 2026, non-EU producers and EU importers will face stringent requirements to report and verify emissions across their supply chains. Importers will need to collect primary emissions data and pay carbon taxes based on accurate and verifiable reporting. Failure to comply can result in heavy fines, but today's systems for tracking emissions are inefficient and often unverifiable.
CBAM not only presents challenges, but also a significant administrative burden for companies at both ends of the supply chain. Non-EU manufacturers must adapt to accurately collect and report emissions data, while EU importers face penalties for inaccuracies in submitted reports. Complexity increases as the scope of CBAM expands over time, initially to include raw materials such as cement and aluminium, and later to include finished goods. By 2030, CBAM could affect more than €90 billion of traded goods annually.
Beyond CBAM, there are currently more than 100 regulatory frameworks setting limits on GHG emissions for industries, mainly through cap-and-trade schemes or carbon tax systems. All of these systems need standardized and verifiable emission data collection methods while minimizing the bureaucratic burden. With the cross-border nature of many of these systems an automated and efficient emission collection system is crucial to overcome cultural, language, and information barriers to ensure a level playing field for all participants, regardless of their geographical location, reduce green-washing and provide trust.
The Solution
ARTEM connects non-EU manufacturers and European importers for accurate carbon emissions reporting - simplifying verification and compliance processes. To make this possible, ARTEM provides an integrated solution with proprietary hardware and software elements to enable real-time, tamper-proof emissions tracking that is certified to both EU and Chinese standards:
Software: A cross-border emission data collection platform helping companies comply with mandatory data submission requests like CBAM. It is designed for both EU and non-EU users, emphasizing regulatory compliance, evidence-based data submission, and user-friendly design.
Hardware: A Continued Emission Measurement System (CEMS) that measures GHG emissions in real-time through sampling of flue gas in short intervalls. For some industries like fertilizer production, CEMS is mandatory. For others, it is preferred due to its transparency, automation, and traceability.
The integration of both software and hardware elements ensures precise accountability and adaptability to specific production processes and methods. It minimizes human errors, creates a robust data infrastructure, enables cost-effective compliance for manufacturers and freight forwarders and facilitates the convergence of different carbon prices into a single, global carbon price.
Initially focused on China, the world's largest CBAM-affected market, ARTEM plans to expand into India and other emerging markets, creating a global infrastructure for emissions tracking and carbon pricing. They can be used in a wide range of industries, including those with tight cost margins.
Why we invested
We believe that ahead of the implementation of the CBAM regulation in Europe, ARTEM is in a unique position to address the growing complexity of carbon regulation, accounting and pricing. Their integrated and automated solution together with their unmatchable access to the Chinese market lays the foundation for ARTEM to become a global carbon accounting and pricing infrastructure leader.
By starting with goods produced in China - the largest manufacturing hub affected by CBAM - and aligning with local and international standards, ARTEM bridges a critical gap between manufacturers and importers.
This early focus will not only allow them to navigate one of the world's most challenging markets, but also provides a blueprint for scaling in other high-growth regions such as India and to cover a wider range of commodities and industries.
The founder´s team strong personal ties and experiences with large Chinese conglomerates and state-owned enterprises give them an unmatchable access to the Chinese markets that potential competitors are hard to match. And with the team´s vision, mindset and energy we are fully confident that they are set up for success.
ZeroMission
Intelligent fleet electrification planning, operation and reporting
The Problem
Unlike diesel-powered buses and trucks, where extensive institutional knowledge and experience guide operational and capital efficiency, battery-powered vehicles introduce a completely new operating paradigm. This shift impacts all aspects of business operations, including capital planning, facility management, procurement, vehicle operations, electricity supply, and maintenance. As battery electric vehicle operations scale, these factors become increasingly complex and critical.
The Solution
To tackle these challenges, ZeroMission created the ZeroMission Operations Platform, an integrated, single-login monitoring solution for battery electric vehicle fleet management. This platform consolidates essential EV data, including OEM telematics, scheduling, dispatch, driver profiles, charging management, energy supply, utility connection, maintenance, onsite generation, and battery storage.
Their solution centralizes all EV operation data, enabling real-time performance monitoring with intuitive, color-coded alerts and AI-driven decision support tools. When an issue arises, such as a charging station fault affecting a vehicle's scheduled route, the platform not only alerts users but also provides actionable guidance for resolution. This ensures vehicles remain operational, offering customers a robust, informed environment for managing and scaling electric vehicle fleets.
Why we invested
Electric buses and trucks are expected to grow exponentially in Europe, Latin America and the US by 2030. This growth is being driven by environmental concerns, supportive government policies and significant technological advances. ZeroMission is strategically positioned to capitalise on this trend by offering a robust solution that addresses the key challenges of operating electric fleets.
ZeroMission's platform is characterised by its open, vendor-neutral and interoperable design. This approach enables seamless integration without the constraints of vendor lock-in, both in terms of charging infrastructure and vehicles.
As fleet operators are expected to manage mixed fleets in the coming years, ZeroMission's platform is designed to accommodate this diversity, enabling operators to effectively manage and optimise their fleets.
Our investment in ZeroMission is in line with our commitment to sustainable and innovative mobility solutions. We are confident that ZeroMission will play a key role in the global transition to electric vehicles, delivering significant environmental benefits and operational efficiencies.
PIONIX
PIONIX initiated EVerest, a user-friendly charging software solution which is developed, distributed, and maintained by a growing open source community.
The Problem
The EV charging software ecosystem is experiencing significant growth due to the global shift towards electric mobility.
However, the current EV charging ecosystem faces challenges in providing a seamless, standardized, holistic and user-friendly experience for EV owners. Multiple providers offer individual, patchwork solutions that lack interoperability. In order for the EV market to continue to grow and meet customer expectations, these challenges must be addressed.
The Solution
PIONIX solves these challenges with its open-source platform, EVerest, which provides a standardized and shared framework to facilitate a more cohesive charging experience. EVerest is a multifaceted software suite designed to operate charging stations and enable compatibility. By utilizing the Open Charge Point Protocol (OCPP), EVerest can seamlessly connect to existing Charging Point Operator (CPO) backends without being tied to specific hardware.
The Linux Foundation has recognized the company's innovative approach, positioning PIONIX as a key player in the evolving EV charging market.
Why we invested
PIONIX’s open source software EVerest has the potential to be a game-changer in the industry by addressing the exact road-blocks that currently exist. This breakthrough technology has the potential to reshape the landscape of the EV charging market.
An investment in PIONIX will allow us to tap into and profit from the growing EV charging market by providing a critical component of the charging infrastructure. The company’s commitment to open-source principles gives it a unique advantage in the industry. By providing an open platform for collaboration and innovation, PIONIX fosters a community-driven approach that will drive continuous improvement, and in turn, demand and adoption.
Lichtwart
Lighting Management & Maintenance Platform
The Problem
Outdoor lighting still works the same way it did decades ago. The only significant change has been the switch to LEDs. However, lighting systems haven't become intelligent and don't respond to environmental changes, resulting in continued high energy consumption and costs.
Additionally, the remote locations of many lighting installations make service and maintenance both costly and logistically challenging for their respective operators.
The Solution
The Lichwart team has developed a cloud-based light management platform that, together with a small hardware component, enables operators to simply make existing light installation smart and controllable.
The platform lets them remotely monitor and control their systems, adjust light intensity based on ambient brightness, and automatically notify service technicians when maintenance is needed. This improves their CO2 footprint and the reliability of the lights, without high initial investment or additional staff requirements.
Why we invested
The company's unfair advantage lies in its deep knowledge and extensive network within the commercial lighting industry. They recognized the opportunity for a simple cloud-based IoT solution in their home market and seized it. Prior to founding Lichtwart, Gregor and Johannes worked together in an SME in the lighting and outdoor advertising industry. Third co-founder, Jackson, previously worked at IoT company Relayr, which was successfully acquired by Munich Re for €300m.
With an exceptionally strong and experienced team, the company has ambitious plans to scale across Europe and the US, aiming to become the new industry standard for smart commercial lighting systems, reducing both CO2 and light emissions.
Green Fusion
AI-enabled heating management software for complex and hybrid heating systems in residential buildings, increasing energy efficiency and reducing emissions.
The Problem
Heating in residential real estate is a major contributor to CO2 emissions, still mainly relying on fossil energy sources. With climate targets and energy costs rising significantly, society must find ways to use energy for heating more efficiently and replace or combine existing fossil heating systems with renewable solutions. Property owners, in particular, are facing massive challenges to make buildings more energy efficient, fueled by the introduction of a CO2 tax and ESG requirements.
The Solution
Green Fusion has developed AI-driven software that automatically makes conventional heating systems such as gas boilers more efficient. Most of these systems still operate in factory default mode and have never been touched to be manually optimized.
The Green Fusion cloud software also optimizes hybrid systems, i.e. systems that use several heat sources in parallel (e.g. gas boiler together with heat pump and/or solar thermal). Such hybrid systems will become increasingly common in buildings that are being renovated or newly built.
Why we invested
Green Fusion's technological advantage lies in its ability to optimize coupled heating and energy systems while being hardware-agnostic. In order to meet ESG targets, there is a strong demand from property owners to implement energy efficiency measures and/or switch to renewable systems to reduce emissions as well as costs. In Germany alone, there is a huge market of 3.2 million multi-family homes waiting to be addressed by the company. Green Fusion is led by an outstanding team with deep domain expertise that has attracted high-profile investors and clients.
flexecharge
Smart charging solutions for charging station manufacturers and backend providers
The Problem
The growing use of electric vehicles (EVs) and impending restrictions on internal combustion engine (ICE) vehicles are driving the rapid expansion of commercial EV charging networks around the world, aiming to match the convenience and accessibility of traditional petrol stations.
However, a major challenge to this expansion is the limited capacity of existing power grids, which are being strained by the growth of distributed renewable energy generation and the escalating demand for electricity from the growing EV population.
Sophisticated load and energy management software is urgently needed to mitigate and overcome the risk of grid upgrade backlogs that could leave EV charging stations stranded without power, and to ensure that society efficiently uses the increasing amount of renewable energy being fed into the European grid.
The Solution
FLEXeCHARGE solves this challenge by providing a load and energy management solution through an interoperable platform that integrates with a variety of EV charging hardware and charging point management systems. The platform's vendor-neutral technology allows both AC and DC chargers to be integrated into a single load management system that can be managed locally or via a cloud-based solution. By consolidating the operations of multiple charging sites on the FLEXeCHARGE platform, users can reduce the costs associated with charging by utilising local renewable energy sources, storage systems and participating in flexibility markets.
In addition to cost savings, the open architecture of the FLEXeCHARGE platform allows customers to remain independent of specific management systems and hardware suppliers, offering the ability to interface with a wide range of software or hardware. This flexibility can contribute to improved energy procurement strategies and will increase operational efficiency.
Why we invested
FLEXeCHARGE capitalises on the expanding global EV market, which is expected to exceed 200 million EVs and 300 million charging points managed by over 100,000 charge point operators (CPOs). These operators are challenged to economically power a vast network of chargers with minimal grid fees and limited capital expenditure. The FLEXeCHARGE solution effectively addresses this critical need.
encentive
Flexibility-as-a-Service for Utilities and Grid Operators
The Problem
The transition to renewable energy is creating a decentralised, dynamic and highly volatile energy system. Large energy consumers, such as SMEs and industrial players, are increasingly facing the challenges of these developments. They are also faced with increased regulation and rising CO2 prices. The war in Ukraine and subsequent energy price spikes have added further uncertainty. Managing the cost and volatility of energy has become even more important and there is increasing pressure to implement intelligent systems to use and source energy more efficiently.
The Solution
Encentive has developed a new generation of AI-powered energy management systems. Its flex-On platform enables SMEs and industrial customers to optimise the entire demand side. The flex-On platform is a digital solution that takes into account internal and external data from a company's existing asset infrastructure. On this basis, the system provides predictions and automatically executes optimisations and reacts in real time.
The core value proposition is to efficiently manage energy price volatility and reap the benefits of flexibility by combining local on-site optimisation (including own energy production from e.g. solar PV) with the exploitation of market opportunities through demand response. The flex-On platform is particularly targeted at industrial processes where cooling and heating are essential, such as logistics, food, chemicals and pharmaceuticals.
Why we invested
The market for energy and emissions management and optimisation for SMEs and industrial customers is huge and demand is growing rapidly. Reducing energy costs and optimising energy consumption has become a necessity for energy intensive SMEs.
Encentive has developed a technologically advanced solution that has been tested and refined with its first customers over the past few years. The company has been able to attract high profile customers and has demonstrated that it delivers massive value. The solution not only delivers significant cost savings, but also has an environmental impact by reducing emissions. The three founders have invested many years in research before developing Flex-On, giving them a technical competitive advantage.
We believe that competing solutions on the market are much less mature.
