1Komma5° announces record investment in AI-based energy management system

Germany-based home energy and electrification company 1Komma5° has announced it will invest more than $160 million (EUR 100 million) in its AI-based energy management system Heartbeat AI next year after raising more than $110 million in its latest financing round.

1Komma5° co-founder and Chief Executive Officer (CEO) Philipp Schröder said the new funds add to the company’s existing investment budget and will support AI development, software capabilities and faster market expansion.

“The objective is clear,” he said. “The energy system needs a universal energy AI that works as an end-to-end operating system. Our ambition is for Heartbeat AI to become exactly that and to bring clean, affordable energy to millions of people.” 

Heartbeat AI is an optimisation layer that connects and controls home energy systems, including solar panels, batteries, heat pumps and electric vehicle chargers. 1Komma5° said the fully automated platform has access to wholesale electricity prices, weather forecasts and grid demand in real time, and automatically decides when to store, use or sell household energy to deliver the best return for customers.

The platform, which is pitched by 1komma5° as an alternative to “conventional” virtual power plant (VPP) programs, is part of the company’s suite of software and hardware products. 1komma5° said it is already compatible with a wide range of energy systems, aggregating more than 1 GW of flexibility capacity in five markets globally, including Australia where the company has attracted more than 60,000 customers since entering the market in 2022.

1Komma5° Australia CEO Luke Stronach said the record investment in Heartbeat AI will enable the continued evolution of the platform, ensuring optimised access to the country’s volatile wholesale electricity market.  

“Wholesale market volatility will continue to be an issue, but Hearbeat AI’s sole focus is on allowing Australian consumers to benefit from this volatility,” he said. “Heartbeat AI is a key element of our vision to deliver the cheapest and cleanest energy possible for everyday Australians.”

1Komma5° said this funding round was led by Japanese cleantech growth fund Marunouchi Innovation Partners (MIP), while existing shareholders including CalSTRS, eCapital, G2 Venture Partners and Eurazeo also participated.