1KOMMA5°, a leading provider of solar systems, heat pumps and EV chargers in Europe, has announced its preliminary business figures for 2023 together with its plans for the year ahead. The company with a presence in seven markets globally has more than doubled its revenue to about $760 million in 2023, growing by 122% from $430 million the previous year.
This growth is driven mainly by organic growth and supported by strategic acquisitions of leading solar installation companies across Europe and Australia specifically in Sydney, Melbourne, and Adelaide.
“In the last two years, we have grown by a factor of 20, have been able to constantly increase our turnover and profit and are highly profitable and bankable just 2.5 years after the company was founded. To date, we have installed more than 170,000 energy systems for our customers globally and we’re proud of that,” explains Philipp Schröder, CEO and co-founder of 1KOMMA5°.
Australia: Leading the way
The company made its first foray into the Australian market when it acquired Natural Solar in 2022 which was then quickly followed by the acquisition of Solaray Energy, now called 1KOMMA5° Sydney and 1KOMMA5° Melbourne.
In 2023, 1KOMMA5° Sydney and 1KOMMA5° Melbourne also had a remarkable performance, reaching their highest revenue yet with more than 55% profitable growth in 2023 alone.
“Reflecting on last year’s outstanding performance, our team is energised and focused on propelling the company to even greater heights in 2024. Our commitment to decarbonising Australia remains unwavering, and we see immense opportunities for growth ahead. As we embark on this journey, our aim is clear: to expand our footprint, deepen our impact, and continue leading the change towards a cleaner, sustainable future, says Jonathan Fisk, director of 1KOMMA5° Sydney and Melbourne. The company plans to expand its team and service by more than 100% by 2025.
Forging new partnerships
As part of its growth strategy, 1KOMMA5° continues to strengthen its presence in the Australian market with another key acquisition with Adelaide-based Kozco Energy Group. This acquisition allows the three Australian companies to unlock synergies that will allow them to offer more competitive offers and cutting-edge technologies to their customers.
“With Kozco joining the group, it allows us to offer our products to millions more Australians and represents a milestone for enabling a worldwide one-stop-shop for renewable energy solutions. Our existing partners Natural Solar and 1KOMMA5° Sydney and Melbourne were pivotal in shaping our market presence, and we’re now further solidifying our market strength,” adds Schröder.
“Becoming part of the 1KOMMA5° group enables us to offer customers connected and fully integrated solutions instead of partial hardware components from different providers,” explains Kozco’s co-founder Wayne Faranda. “Together, we are uniquely positioned to accelerate the transition to CO2-neutral living in Australia and to bring advanced renewable energy solutions integrating climate control and dynamic electricity tariffs to thousands of Australian homes and businesses.”
Pioneering energy transition
With Australian electricity prices still expected to continue to rise, 1KOMMA5° plans to launch the smart energy management system, Heartbeat, this year. This will give Australians the opportunity to optimise their energy consumption by leveraging periods of low-cost electricity, helping them save money and become more self-sufficient.
Moreover, the company is set to open an Apple-like retail store showroom in Sydney, where customers can experience and purchase its products and services in a modern and interactive environment. The showroom will also serve as a hub for education and community engagement on renewable energy and climate action.
1KOMMA5° is currently driving the energy transition at five locations in Australia and 67 other locations worldwide. The aim is to develop a market-leading hardware and software platform across Europe and Australia that is capable of converting 500,000 buildings per year in 2030 to climate-neutral power generation, heating and mobility.
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