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Home energy and electrification upstart 1komma5° continues its shopping spree in Australia, announcing on Friday its fourth and “biggest” investment in Queensland-based solar and storage outfit Arkana Energy Group.
German based 1komma5°, which had its official launch in Australia in November last year, has a global mission to convert 500,000 buildings a year to climate-neutral power, heating and mobility.
The European conglomerate – whose backers include Porsche Ventures, a founder of Tesla’s European operations, and the co-founder of German battery giant Sonnen – arrived in Australia last year with $100 million to spend on buying up rooftop solar and battery businesses in the region.
The company plans to offer a one-stop-shop energy solution to Australian households and businesses, including the company’s Heartbeat energy management system.
Its first purchase in Australia was a controlling stake in the New South Wales based solar and battery retailer and installer Natural Solar, in October 2022; and then in January, 1komma5° bought up microinverter and Tesla battery specialist, Solaray Energy.
A third purchase was made just last month, with a stake taken in South Australia-based Kozco Energy Group, a leader in renewable energy and air conditioning services.
“This expansion in Australia is our biggest investment to date,” said 1komma5° CEO and co-founder Philipp Schröder, CEO and co-founder in a statement this week.
“In this flourishing market environment Arkana reached a revenue of more than 40 million Australian dollars last year, operating currently in Queensland, New South Wales and Victoria,” Schröder said.
He says 1komma5° currently operates in six locations around the country and is more than doubling its presence with the new partnership.
Luke Stronach, managing partner of Arkana Energy Group says the company’s team of 120 experts has completed more than 15,000 installs on both domestic and commercial premises across the country over its 10 years in business.
“Now is the perfect time to grow from a PV and battery focused company to a true one-stop-shop for smart energy solutions,” Stronach said in a statement.
Stronach says the next step for the company is to integrate 1komma5°’s “virtual assembly line” into its operations.
“This AI powered software will be a gamechanger regarding installation time and costs,” said Arkana CEO Tyson Stronach.
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