Phoenix Contact Innovation Ventures invests with adesso in urban ENERGY, a supplier for smart charging solutions to enable smart cities
The venture capital arm of the Phoenix Contact group is part of a consortium of two companies, which is supporting the startup company urban Energy GmbH i.G. in Berlin as part of a seed financing round. Together with adesso AG in Dortmund, Phoenix Contact Innovation Ventures invests a seven-figure sum. The seed capital will be used to force the go-to market and to extend sales and marketing activities.
Blomberg, Germany March 28, 2019
urban ENERGY is developing an innovative IoT platform for smart cities. The platform takes on a key challenge for electromobility: The increasing number of electric cars and therefore charging stations will lead to increased load peaks and overloaded power grids. As a solution, urban ENERGY has developed software that uses artificial intelligence to connect energy production and consumption. Prediction algorithms determine the best possible loading times. This is done based on continuously recorded key figures such as consumption data and energy supply.
For Paul Dittrich, co-founder and CEO of urban ENERGY, the merger of these two partners is a stroke of luck: "With adesso and Phoenix Contact, we have two strong players at our side, bringing together leading IT and electrical engineering expertise. Together, we can realize our vision and significantly shape the energy transition in urban areas with smart energy and mobility services. " The advantage from the solution of urban ENERGY for the energy producers: network utilization is optimized. The advantage for energy consumers: taking advantage of cheaper tariffs. urban ENERGY’s modular platform can be used for a variety of applications and business models. For example, housing associations, municipal utilities or commercial and industrial companies can offer their customers, tenants or employees time-based tariffs.
The founders, formerly leading employees at adesso, also impressed Phoenix Contact Innovation Ventures with their innovative business model. The Phoenix Contact Group offers products and solutions for all aspects of electrical engineering and automation - making it the ideal partner for joint investment in this young company as a component supplier. Marcus Böker, Managing Director of Phoenix Contact Innovation Ventures: "An important step in the direction of climate-friendly mobility is to provide nationwide intelligent charging options for electric vehicles. The urban Energy solution supports this goal. In conjunction with our solutions in the field of e-mobility, we hope for many exciting projects with our customers."
The above transaction is subject to the approval of the cartel office and public approvals.
For more information please contact:
PHOENIX CONTACT Innovation Ventures GmbH
About PHOENIX CONTACT Innovation Ventures GmbH
PHOENIX CONTACT Innovation Ventures is the global corporate venture capital company of the PHOENIX CONTACT Group, a global manufacturer and supplier of components and systems for electrical connection and industrial automation technology. The venture capital company invests in startups with business models that are related to electrical connection technology, industrial digitization, automation and control technology, and associated markets.
About urban ENERGY GmbH:
urban ENERGY develops individual business models for smart city and e-mobility. It is based on the company's modular IoT platform, which digitally connects consumers and producers. With the help of data analytics, a decentralized and temporal shift of consumption can be achieved. This makes the start-up a competent partner for the housing industry, municipal utilities, companies or fleet operators.
About adesso AG:
adesso is one of the leading IT service providers in the German-speaking market and focuses on the core business processes of companies and public administrations by providing both consultancy and customised software development on the core business processes of companies and public administrations. The strategy of adesso is based on three pillars: the deep industry know-how of the employees, a comprehensive technology competence and proven methods in the implementation of software projects. The result is superior IT solutions that help businesses become more competitive. adesso was founded in Dortmund in 1997 and currently employs more than 3,100 people.