1KOMMA5°, the Hamburg-based New Energy company and developer of the Heartbeat AI electricity market software, today announced its preliminary business figures for 2024. The company increased its total revenue close to EUR 520 ($856 million) in 2024, up from around EUR 450 million ($741 million) in 2023 – despite the recession and declining demand for solar systems and heat pumps.
Adjusted for acquisitions, 1KOMMA5° achieved the strongest growth in its young history, with organic sales rising from EUR 360 million ($593 million) to EUR 490 million ($807 million) in 2024. This underscores the company’s claim to European market leadership in the megamarket of home electrification. Founded in 2021, 1KOMMA5° now employs around 2,500 people worldwide, including around 200 staff in Australia.
Philipp Schröder, CEO and co-founder of 1KOMMA5°, states: “Even in the midst of a crisis year and in a shrinking market environment, we are growing by 36%. This is a great success for our entire team. We have made significant investments in Heartbeat AI and the smart meter rollout in 2024. Despite sourcing polysilicon from Germany, which is far more expensive than production in Asia, and facing rising sales costs, we remain sustainably profitable on an operational level and debt-free. Over the last two years, we have consistently increased our revenue and profits without using an already approved credit line in 2024.”
Last year, the company further opened its Heartbeat AI electricity market software to compatible heat pumps, electricity storage systems and wall boxes, regardless of the manufacturer. As a result, 1KOMMA5° was able to increase the number of connected energy systems to 40,000 and is now Europe’s largest virtual power plant for residential customers. Heartbeat AI enables customers to benefit from the volatility of renewables: Surplus feed-in, self-consumption benefits and AI-optimised grid consumption can generate more revenue than costs. Instead of charging margins on electricity as an energy supplier, 1KOMMA5° charges a flat-rate software fee and thus enables dynamic and individual electricity prices in real-time instead of conventional fixed tariffs.
Due to strategic acquisitions and operational improvements, 1KOMMA5°Australia achieved 90% growth YoY in 2024.
“Based on global and local success in 2024, we’re excited about the opportunities ahead,” said Luke Stronach, CEO at 1KOMMA5° Australia. “Our aim is to revolutionise the energy market, making it smarter, more dynamic and more economical for Australian consumers.”
According to Stronach, the company plans to launch new showrooms in 2025. “Establishing a physical presence is a key element of our Australian strategy. We truly believe that giving consumers the ability to experience New Energy in physical showrooms is critical to realising our ambition of being the one-stop-shop for home electrification in Australia.”
In November, 1KOMMA5° announced the spin-off of Heartbeat GmbH as its own subsidiary under the leadership of CTO Barbara Wittenberg and CPO Jannik Schall. The aim is to achieve an annual revenue of EUR 10 billion from hardware and software sales in 2030. In the next three years alone, the company plans to invest EUR 100 million ($165 million) in expanding its software business centring around Heartbeat AI, including the launch of Heartbeat AI in Australia. By 2025, it expects sales to grow into the double-digit million range.
1KOMMA5° has raised around EUR 400 million ($659 million) in equity since its foundation and is debt-free. A credit line of up to EUR 100 million provided in 2023 has not been utilised. This makes the company one of Europe’s fastest and most profitable growing start-ups.
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