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Enpal closes its Series D round with €200 million in equity

  • TPG Rise Climate leads the round with participation of new and existing investors.
  • Enpal continues its profitable growth track by crossing €400 million in revenues in 2022.
  • Heliad expects its investment to appreciate in the high single-digit millions.

 

Frankfurt am Main, January 10th, 2023 – Enpal, a portfolio company of Heliad Equity Partners GmbH & Co. KGaA (ISIN: DE000A0L1NN5), receives additional growth capital of €200 million. The Series D financing round is led by TPG Rise Climate, one of the world’s leading investors in renewable energy and climate tech. With Westly Group and Activate Capital, two additional leading climate investors come on board. Existing investors such as HV Capital, Softbank and Princeville Climate Tech also participated in the Series D. This comes just weeks after the company closed €855 million in additional refinancing.

The company’s total financing volume, consisting of debt and equity, amounts to more than €1.8 billion after closing of Series D with the company valuation reaching the milestone of €2 billion, pre-money. Heliad already participated in the Series C of the company in April 2021 and thus will see an appreciation of the investment in the high single-digit millions after only 18 months.

Enpal, Germany’s first and fastest growing cleantech unicorn, serves around 30,000 customers with its all-in-one solar energy solution and is steadily exceeding its growth projections. As a result, Enpal crossed €400 million in revenues while also remaining net profitable. The additional capital will enable Enpal to continue its profitable growth plan, expand into new markets and further develop its own award-winning smart energy platform.

“Fighting climate change is the greatest challenge of the 21st century”, says Enpal founder and CEO Mario Kohle. “We want to help tackle this global issue by putting solar panels on every roof, a battery in every house and an electric vehicle in every garage. In order to convince customers to join our community, we bring together an excellent team, set up a profitable business model and win strong investors. Today, we are thrilled to have the leading global cleantech investors on board to support our mission to make clean energy simple, affordable, and accessible to everyone. By joining forces, we can multiply our efforts to reduce carbon emissions and we will pave the way towards a more sustainable society.”

“The significant demand to participate in Enpal’s Series D underpins the operational strength of the company in the current market environment and demonstrates its relevance for the German and soon European economy to drive the energy transition towards sustainable resources. Enpal’s successful customer-centric strategy also demonstrates the shift in new business models towards a focus on simple, predictable, and affordable solutions. We are impressed by the extraordinary and controlled revenue growth of more than 300% this year. To have achieved sustainable profitability at the same time is an outstanding achievement. The advancement of the energy turnaround requires solutions with often considerable capital requirements – as a listed venture capital investor, we continue to actively support Enpal in its advancing connectivity to the capital market.” says Julian Kappus, Co-CEO of Heliad.

About Enpal

Connecting humanity to become a renewable community – that’s Enpal’s vision. Founded in 2017, Enpal is the #1 fastest growing energy company in Europe (FT1000 Ranking 2022 by Financial Times & Statista). Enpal has 30,000 customers in Germany to date and currently installs over 2,000 additional solar energy systems per month. Enpal offers the first integrated package for a climate-neutral home including PV systems, energy storages, EV chargers, green electricity tariffs and smart energy managers. Its solar energy solution is easy, affordable, and smart, making private households independent from fossil fuels and reducing carbon emissions. Key advantage for clients: Enpal rents out the systems and takes care of service and maintenance. Customers thus have no high upfront acquisition costs and benefit from the all-inclusive care-free package. All PV systems are connected to form an intelligent renewable network.

About Heliad

Heliad (ISIN: DE000A0L1NN5 / Ticker: HPBK) is a listed investment company with a mission to empower both entrepreneurs and investors. The company invests in market leading companies across various verticals and regions to power their next phase of growth. As a listed company and through our strong team and strategic partners, Heliad can support companies pre, at and post IPO and act as a gateway to public equity capital markets.

An evergreen structure allows Heliad to act independently of usual fund lifecycles and provides shareholders with unique access to pre-IPO market returns without any restrictions or limitations in terms of investment size and term commitment. Further information about Heliad can be found under www.heliad.com follow us on LinkedIn.

Contact
Heliad Equity Partners GmbH & Co. KGaA
E-Mail: investor-relations@heliad.com

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