Porsche is expanding investment in smart city technology and its venture capital arm Porsche Ventures will soon become one of the shareholders of 1KOMMA5 °. 1KOMMA5° is a start-up based in Hamburg, Germany, aiming to accelerate the transition to low-carbon and carbon-neutral energy by expanding the carbon-neutral energy and air-conditioning technology market for individual households in a sustainable, decentralized manner.
According to Porsche, 1KOMMA5° operates by acquiring shares in the top power installation companies in Europe focusing on renewable energy (solar self-sufficiency, heat pumps, energy storage), supporting companies through digitalization and centralization of administrative work, and providing growth capital. At the same time, 1KOMMA5° also develops network system concepts through patented application programs and interfaces such as smart electricity tax and virtual power plant concepts and using installed devices for future energy services.
With this investment, Porsche expands its commitment to partners beyond its core business and demonstrates its determination to develop sustainability. "Smart cities are an exciting area for Porsche. Our main focus right now is to build cities that are connected, energy-efficient, and sustainable," stated Lutz Meschke, Deputy Chairman and Member of the Executive Board Finance and IT at Porsche AG. "Porsche is constantly thinking about how to further improve the quality of life in urban areas, not just for sports cars, but as scalable high-end services. Therefore, the direction of 1KOMMA5° fits well with our investment strategy."
Porsche Ventures, the venture capital arm of Porsche AG, with offices in Stuttgart, Berlin, Tel Aviv, Palo Alto, and Shanghai, invests in innovative technologies and business models around the world. In order to partner with more emerging and innovative companies, Porsche has been active in the field of startups since 2016, building a diverse startup ecosystem. In addition to Porsche Ventures, the Porsche ecosystem also includes a technology and digital division Porsche Digital, a corporate promotion company "Forward 31," and the early-stage investment fund "APX" jointly established with Axel Springer SE and geared towards providing all start-up teams with correct networking channels, no matter the stage of innovation.
(Image: Porsche)