German unicorn Enpal, known for supplying green energy tech like solar panels and batteries to households, has raised €110 million in equity funding, its first such round since 2023 reported Handelsblatt. The round was led by private equity giant TPG, with continued backing from several existing investors.
The latest equity round marks a notable shift for the Berlin-based company. Enpal’s latest capital injection comes at a time when the European green tech space is facing a complex mix of market dynamics, including fluctuating consumer demand and economic headwinds. The new funding will support product rollout and expansion into new markets, a spokesperson confirmed, although specific target geographies have not yet been disclosed.
This follows Enpal’s massive €1.1 billion debt facility, secured from Barclays Europe, Bank of America, and Crédit Agricole CIB, a move that enabled the company to continue scaling without giving up additional ownership at the time.
Here are three key things to know:
From solar panels to an end-to-end home energy platform
Enpal was founded in 2017 by Mario Kohle, Jochen Ziervogel and Viktor Wingert in Berlin. Mario grew up as a working class kid in the former GDR while Viktor immigrated to Germany with his parents as a child with a Russian working-class background. Together, they decided to establish Enpal with the vision of connecting humanity to become a renewable community.
Enpal started with solar panel subscriptions but has since broadened its offering to become a comprehensive home energy tech provider. In 2024, its range of renewable energy products included:
- Photovoltaic (PV) systems that convert sunlight into electricity, reducing reliance on the traditional grid.
- Energy-efficient heat pumps that provide both heating and cooling for homes and use renewable electricity or geothermal energy.
- Energy storage systems that store excess solar energy in batteries for later use, maximise efficiency, and ensure homeowners have power even during outages.
- EV charging stations that let homeowners to charge their EVs using clean, solar-generated electricity conveniently.
This expansion aligns with Enpal’s wider vision of enabling homes to become decentralised energy producers. The company is also developing a new energy trading platform, aiming to allow households to sell surplus power back to the grid or other users, effectively turning homes into micro power stations.
Enpal faces market pressures, but sees signs of rebound
Despite its growth trajectory, Enpal hasn’t been immune to market challenges. The company reported a dip in revenues last year, from €905 million in 2023 to €860 million in 2024, according to Handelsblatt. The decline reflects broader trends in the solar sector, which has seen customer demand soften due to high interest rates, inflation, and falling fossil fuel prices.
Still, Enpal appears to be on the upswing. With a fresh round of capital and an expanding product lineup, the company seems poised to weather the headwinds and position itself as a long-term player in Europe’s green energy transition.
Competition is heating up
The residential green energy market in Europe is getting crowded, and Enpal is facing growing competition from a new generation of tech-driven energy startups aiming to decarbonise households.
One major rival is 1Komma5°, another German startup founded in 2021, which has been aggressively expanding across Europe. The company offers an integrated suite of solar panels, heat pumps, battery storage, and energy management software, similar to Enpal’s evolving model. In 2023, 1Komma5° raised over €430 million in equity and debt to accelerate its growth and now operates in more than ten European markets.
Then there’s Aira, a Swedish startup backed by Vargas Holding, which launched in 2023 with a focus on electrifying homes across Europe. Aira began with a focus on heat pump installations but is quickly building toward an all-in-one solution that includes solar and storage. It’s targeting major European markets, including Germany, Italy, and the UK, and plans to open 100 customer experience centres to boost brand presence and consumer adoption.
Final thoughts
Enpal’s €110 million raise underscores the growing investor appetite for integrated energy solutions and reflects confidence that demand for home electrification will rebound. With its eyes set on market expansion and energy trading innovation, the company is doubling down on its role as a key player in Europe’s clean tech future.
