With the new heating law, the traffic light government wants to accelerate the climate-friendly conversion of the building sector. This is likely to be a decisive factor on the path to climate neutrality, as almost a third of CO₂ emissions in this country currently arise from the construction and use of buildings. And: Around 40 percent of the EU’s total energy consumption comes from heating (and also cooling) buildings. However, the new requirements also mean an enormous financial and organizational effort for homeowners. The new rules include, among other things, renovation strategies, the requirement that all new buildings in the EU be zero-emission from 2030 and the installation of solar panels on new buildings.
“That leads to a lot of frustration and uncertainty,” says Marcus Dietmann. In 2021, he founded the startup 42watt together with Jörg Überla, which addresses exactly this point. The company, based in Munich, offers owners who want to renovate their property to make it more energy efficient, independent and individual advice including a cost plan and accompanies them throughout the entire process. This is intended to reduce the hurdles for renovation.
- Millions from OBI’s Corporate VC, among others
The founders have already raised a mid-seven-figure euro amount for their startup. In a financing round in August 2023, the climate tech fund Contrarian Ventures joined the Munich-based company as lead investor. In addition, the existing investors have joined in, including Proptech1 and McMakler founder Felix Jahn. The money will be used to expand the product portfolio, expand the team and open up new market segments. According to their own information, the Munich-based company has increased its sales more than twenty-fold in the past twelve months.
In November, the startup expanded this round and announced that OBI Squared, the hardware store chain’s corporate venture arm, had joined as a strategic investor. Manuel van de Kamp, Chief Product Officer at OBI, praised the advantages of the investment for his company: This means that customers can be supported “friction-free”, from “recognizing a fundamental need for renovation to advice on necessary measures, their eligibility for funding and their actual implementation .” The startup, in turn, benefits from the high brand awareness and the new sales channels. Instead of just online, potential customers will in future also be made aware of 42watt during consultations at hardware stores.
- Investor becomes founder (again).
Dietmann, a trained architect and expert in energy efficiency, had the idea when he was looking for a new project that could combine sustainability with a successful business model , he explains in an interview in Gründerszene. His co-founder Überla, who previously helped set up the VC Wellington Partners and founded and sold a company himself, was actually supposed to join 42watt as a business angel. “I found it so exciting that I said: I want to take part myself,” says Überla.
