- U.S. investment fund Princeville Climate Technology joins Enpal as a leading Silicon Valley investor focused on breakout-stage technology companies geared for rapid growth. This is the first engagement in Germany for Princeville's Climate Technology fund. Princeville has vast investment experience in the climate and tech sector and has previously invested in the likes of Alibaba, Tencent, eBay and Facebook, among others. Leonardo DiCaprio serves as an advisor to the fund.
- Princeville is a valuable advisor to Enpal and its expansion plans, having played a part in building and shaping many of the global technology leaders of our time. In addition to Princeville, Picus Capital founder Alexander Samwer, Delivery Hero founder Lukasz Gadowski and Zalando founders Robert Gentz, David Schneider, and Rubin Ritter are already on board as highly experienced and well-known investors.
- Through their solar lease solution, Enpal offers affordable solar electricity. Founded in 2017, Enpal is now the largest residential solar provider in Germany with more than 5,000 customers. The vision: to become the largest energy company in Europe.
Leasing a residential solar system has become very common in the US, with around 90 percent of the solar systems on US private roofs belonging to solar lease models. In the meantime, the trend is also gaining ground in Germany - at the forefront of this solar revolution is Berlin-based pioneer Enpal. Just three years ago the three founders Jochen Ziervogel (32), Mario Kohle (36) and Viktor Wingert (33) developed their idea - today they receive up to 40,000 inquiries per month and have more than doubled their growth over the last months - during the pandemic.
This is now attracting new investors: After the recent million dollar deal with the Zalando founders, the Berlin-based company is now partnering with the renowned US investment firm Princeville Climate Technology. Princeville is a valuable advisor to Enpal and its expansion plans, having played a part in building and shaping many of the global technology leaders of our time. This is the first engagement in Germany for Princeville's Climate Technology fund. In the spotlight: Oscar winner and environmental activist Leonardo DiCaprio, who is part of the team at Princeville Climate Technology, serving as an advisor to the fund.
Managing director and founder Mario Kohle wants to make use of the additional capital to roll-out his expansion plans : "Princeville Climate Technology with its vast international experience and prominent management board is a highly valuable partner and has already shaped enterprises such as eBay and Facebook in the US. We are delighted that they are partnering with Enpal, as their only renewable energy investment in Germany".
Over 5,000 Customers in Germany
It's a simple idea: Enpal wants to make it as easy as possible for homeowners to get their own solar system. The result: 6,000 systems installed by the end of the year, up to 40,000 customer inquiries per month. "Currently, more than one million users visit our website every month to find out more about a low-cost solar system," says Mario Kohle. What's special about the service: With Enpal, customers spend less on their electricity than before because unlike their energy bills, the lease payment at Enpal remains the same over 20 years. "Our offers start at 50 euros per month, the high acquisition costs of up to 20,000 euros are eliminated and maintenance and insurance are also included," explains Mario Kohle. Compared to other providers, the Berlin-based company relies on a purely online strategy to achieve its affordability with no external sales staff, and all logistics are implemented digitally.
"At first, everyone turned us down. People wanted us to come by in person, but soon we had our first customer, a family from Brandenburg," recalls Mario Kohle. More than 5,000 households in Germany now lease a solar system from Enpal. For next year, founder Mario Kohle expects more than 10,000 systems. In order to reach this growth, Enpal is also working closely with established banks such as ING, Berliner Volksbank and Deutsche Kreditbank - which have recently increased their refinancing volume to 120 million euros. Enpal uses the money to pre-finance the investments for customers. Enpal now employs more than 400 people nationwide.
On the way to becoming the largest energy company in Europe
Before founding Enpal, Mario Kohle had already successfully founded and built a company with 500 employees which he exited to ProSiebenSat.1 back in 2016. During this process, he discovered the potential of the German solar market as demand was increasingly growing and the solar modules were becoming cheaper. "In Germany alone there are 14 million roofs on which homeowners have not yet installed a solar system," says Mario Kohle. According to him, the market is large enough, and the vision of Mario Kohle and his team is even bigger: "Our dream is to become the largest energy supplier in Europe." With Princeville Climate Technology as a partner, this vision now can be realized. Their ambitious growth target: to supply over 5 million households with green energy by 2027.
Founded in 2017 by Mario Kohle, the Enpal Group is now the largest provider of solar solutions for homeowners in Germany with over 5,000 customers. The idea: Enpal offers low-cost solar systems on a subscription basis. High initial investment costs are thus eliminated for homeowners. After 20 years running time, the system can be handed over for only one euro. For prospective customers, Enpal offers an extensive package from consultation to planning. The installation is carried out by certified partners on-site. From initial contact to the end of the subscription: Enpal takes care of the entire process. Simplicity, affordability, and accessibility for homeowners. Enpal's goal is to supply 5 million households with their own solar system in the next seven years. Enpal currently employs around 400 people.
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