Co-Power, a Munich-based startup building decentralised energy infrastructure for Europe’s industrial sector, raised €6.4 million to accelerate the deployment of its innovative large-scale battery storage and solar PV systems.
The round was led by Cherry Ventures, with participation from German energy- and impact-focused family offices Abacon Capital and Aurum Impact, as well as the Founders of Flixbus, former Encavis CEO and TotalEnergies board member Dierk Paskert; DZ4 Founder Tobias Schütt; and Constantin Eis, former CEO of LichtBlick and current CEO of CMBlue.
“Renewables offer abundant, low-cost electricity – but only if we solve the flexibility challenge,” said Jan Krüger, Co-Power Co-founder. “That means putting storage and generation where it matters most: directly on-site with the industrial companies that power Europe.”
Founded in 2024, Co-Power reportedly cuts energy costs by up to 50% for industrial clients by installing and operating on-site battery storage and solar PV systems – with no upfront investment or running cost.
Envisioning a future of energy abundance in Europe, where clean electricity is ultra-affordable, bountiful, and a source of competitive advantage, Co-Power aims to build Europe’s leading industrial virtual power plant.
According to comments by Co-Power, Europe’s industrial sector is under pressure with electricity prices still more than double those in the US or China, threatening competitiveness and forcing companies to scale down production. While Europe’s high share of renewable energy should mean lower prices, the lack of storage and the volatility of wind and solar are causing record price fluctuations and rising grid fees that drive up costs.
Co-Power is flipping this dynamic by enabling industrial customers to cut electricity costs by a reported 50%, unlocking flexibility through on-site battery storage and solar systems delivered via a zero-upfront cost service model.
Co-Power is building an industrial Virtual Power Plant (VPP) – a network of decentralised clean energy systems – to strengthen resilience and enable companies to turn energy from a cost factor into a long-term strategic advantage. Its software layer aims to ensure that energy is optimised, priced, and traded intelligently, bringing 24/7 availability to inherently intermittent solar and wind.
“Too many European companies struggle with energy prices,” said Kilian Zedelius, Co-Power Co-founder. “With Co-Power, we’re taking matters into our own hands to increase the resilience and economic performance of the backbone of the European economy: the SMEs.”
The funding will accelerate the roll-out of Co-Power’s energy systems and support the launch of its industrial VPP.
“Co-Power is bringing a much-needed solution to the European industrial sector at a critical time,” said Filip Dames, Founding Partner at Cherry Ventures. “By combining decentralised generation, battery storage, and a smart operational model, they are providing a powerful way for companies to reduce costs and improve energy resilience while managing price volatility. We are proud to support Jan, Kilian, and the Co-Power team in scaling their impact.“
Read the orginal article: https://www.eu-startups.com/2025/06/german-startup-co-power-secures-e6-4-million-to-help-european-industry-control-of-energy-costs-and-boost-resilience/
