Enphase Energy acquires GreenCom Networks and Lunar Energy acquires Moixa
Exciting exit times for the Ecosummit community and joyful reasons to celebrate 2 happy endings of the famous startup investor relationship: On 29 August 2022, Enphase Energy announced its acquisition of GreenCom Networks and, on 24 August 2022, Sunrun announced that Lunar Energy acquired Moixa. Both exits are very similar: 2 US-based public solar energy companies are buying European startups to grab established software products, local teams and customers and accelerate their market expansion on the continent. GreenCom Networks first pitched at Ecosummit Berlin 2016 and Moixa at Ecosummit London 2014 and both smart green startups had many Ecosummit investors in their cap tables.
Peter Müller-Brühl just pitched GreenCom Networks at Ecosummit Berlin 23-24 June 2022 (photo above and video below). In December 2020, the German startup raised €12M Series C from Shell Ventures and co-investor Energy & Environment Investment (EEI), Japan’s leading smart green VC making its first investment in Europe. Existing investors Centrica, Future Energy Ventures, Munich Venture Partners and SET Ventures participated in the Series C. GreenCom Networks focuses on residential energy IoT licensing their Energy Information Brokerage Platform (EIBP) to utilities around the world to manage PV systems, batteries, heat pumps, EV chargers and other smart home energy devices. The Munich-based company was founded in 2011, employs 50 energy, software and innovation experts and enjoys increasing commercial traction with large customers and partners including Varta, Getec and Lichtblick.
Lunar Energy is just out of stealth and raised $300M from Sunrun which seems to be their majority investor and SK Group from South Korea. As a result of the acquisition, Moixa’s investors Itochu and Honda are now shareholders of Lunar Energy, too. Other original Moixa investors including First Imagine Ventures have exited and sold their shares. Lunar Energy soon launches its first residential battery system which will also be distributed by Sunrun. With the help of Moixa’s virtual power plant software, Lunar batteries will also be integrated into the grid and managed based on demand and supply of electricity across homes. Moixa’s CEO Simon Daniel (photo and video below) continues his mission as SVP Special Projects at Lunar Energy and will speak at Ecosummit Zoom 10 November 2022. Tune in to learn more about his startup growth and exit experience.
Congratulations to all founders, investors and employees. These 2 exits also increase the track record of Ecosummit (slide below). Let’s meet at Ecosummit Berlin 14-15 June 2023 to accelerate smart green startups together to maximise our impact until 2030.
Tags: Acquistion, Batteries, Centrica, Ecosummit Berlin 2022, Energy and Environment Investment, Enphase Energy, Exit, Future Energy Ventures, Greencom Networks, Home Electrification, Lunar Energy, M&A, Moixa, Munich Venture Partners, Peter Müller-Brühl, SET Ventures, Shell Ventures, Simon Daniel, Smart Green Energy, Sunrun, Virtual Power Plant