Co-Power Funding News -German Startup Co-Power Secures €6.4 Million Funding

The company specializes in large-scale battery storage and solar power systems, helping businesses transition to cleaner energy.

The investment round was led by Cherry Ventures, with support from German energy-focused investors Abacon Capital and Aurum Impact. Other notable backers include 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). This funding will help Co-Power expand its innovative energy infrastructure projects.

“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.”

The startup envisions a future where Europe has cheap, abundant clean energy, giving businesses a competitive edge. To make this happen, Co-Power is building Europe’s leading industrial virtual power plant (VPP)—a smart network of decentralized energy systems.

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Right now, Europe’s industries face high electricity prices—more than double those in the US or China—forcing some to reduce production. While Europe has lots of renewable energy, price swings and grid fees remain high due to a lack of storage and the unpredictable nature of wind and solar power.

Co-Power tackles this problem by storing and optimizing energy for factories, lowering costs while boosting reliability. Their AI-powered software manages energy trading and usage, ensuring solar and wind power are available 24/7. By turning energy into a strategic advantage, Co-Power helps industries stay competitive while supporting Europe’s green transition.

“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 new funding will help Co-Power deploy its energy systems faster and launch its industrial virtual power plant (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.“

About Co-Power

Co-Power, founded in 2024, helps industrial companies cut energy costs by up to 50% by installing on-site battery storage and solar panels—with no upfront investment or running costs.