GreenCom Networks lands fresh innogy investment

Home energy management system provider GreenCom Networks has received a fresh investment from innogy’s venture capital arm innogy Innovation Hub.

The investment value has not been disclosed, but GreenCom said the financing served as a ringing endorsement of its distributed energy platform.

It follows a capital increase into GreenCom from Centrica in February, a deal which was shortly followed by the former snapping up innogy Innovation Hub graduate Shine.

GreenCom and innogy first connected through the Free Electrons energy accelerator program, and Patrick Elftmann, investment partner at innogy Innovation Hub, said the company was delighted to take the collaboration further.

“GreenCom’s innovative products and services, focusing on home energy management, have an important role to play in the power business in Europe and beyond,” he said.

Christian Feisst, CEO at GreenCom, added: “innogy Innovation Hub and GreenCom Networks share a common vision and goals, making this investment a logical next step for both parties. We both believe in the same emerging business model: the customer will be the asset of the future. It is all about services around the customer.”

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