Acquisition Alert: GreenCom Networks

Enphase Energy to Acquire GreenCom Networks - Europe-based Company to Expand Enphase’s Home Energy Management Capabilities

We are happy to announce that MVP portfolio company GreenCom Networks entered into a deal to be acquired by Enphase Energy.

GreenCom Networks provides Internet of Things (IoT) software solutions for customers to connect and manage a wide range of distributed energy devices within the home. The company’s technology facilitates a convergence of sectors such as mobility, heating, and renewable energy, often referred to as sector convergence or sector coupling, to help achieve full home electrification.

MVP is thankful to have been supporting the GreenCom team from the early stage on as their first VC investor until this great achievement.

Congratulations to both the GreenCom and Enphase teams as well as anyone involved on a great deal!

Full press release:


FREMONT, Calif., Aug. 29, 2022 — Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems, today announced that it has agreed to acquire GreenCom Networks AG. Based in Munich, Germany, GreenCom Networks provides Internet of Things (IoT) software solutions for customers to connect and manage a wide range of distributed energy devices within the home. The company’s technology facilitates a convergence of sectors such as mobility, heating, and renewable energy, often referred to as sector convergence or sector coupling, to help achieve full home electrification.

GreenCom Networks has extensive experience integrating a diverse set of devices such as solar inverters, battery systems, EV chargers, and heat pumps. These devices are typically made by different suppliers and need to be orchestrated intelligently to optimize energy consumption. GreenCom’s software solutions result in a rich and seamless experience for the homeowner and can help optimize the amount of self-generated energy that is consumed or stored by the homeowner.

The acquisition is expected to:

  • Add a local engineering team to service the accelerating clean energy transition in Europe
  • Provide installers with a complete home energy management system integrating Enphase microinverters and batteries with third-party EV chargers and heat pumps
  • Enable homeowners to monitor and control the devices from the Enphase® App
  • Help homeowners save on their electricity bill through self-consumption, while reducing carbon footprint and reliance on fossil fuels
  • Facilitate home energy management features such as green EV charging, green heating with heat pumps, and time-of-use optimization

“The technical capabilities of the development team at GreenCom Networks will help accelerate our home energy management solutions globally,” said Mehran Sedigh, Vice President, Storage Business Unit at Enphase Energy. “We are excited to introduce the company’s solutions to our customers, beginning in Germany. We look forward to building upon the company’s current offering, and integrating it into the Enphase platform.”

“The energy crisis is not confined to Europe – it’s a global issue that needs to be solved,” said Christian Feisst and Peter Mueller-Bruehl, co-CEOs of GreenCom Networks. “By pairing Enphase solar and battery systems with GreenCom’s IoT platform, we believe we can make meaningful progress in improving sustainability, decarbonization, and reducing the reliance on fossil fuels for our customers. Our team has been driven by purpose and we are excited to accelerate the impact of our home energy management solutions by joining Enphase.”

The acquisition is subject to customary closing conditions and regulatory approvals and is expected to close in the fourth quarter of 2022.

About Enphase Energy, Inc.

Enphase Energy, a global energy technology company based in Fremont, CA, is the world’s leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped more than 48 million microinverters, and over 2.5 million Enphase-based systems have been deployed in more than 140 countries. For more information, visit and follow the company on FacebookInstagramLinkedIn, and Twitter.

© 2022 Enphase Energy, Inc. All rights reserved. Enphase, the “e” logo, Enphase App, and certain other names and marks are registered trademarks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.

About GreenCom Networks AG

GreenCom Networks is a leading energy IoT company, with offices in Munich, Germany, and Sophia-Antipolis, France. Since 2011, GreenCom has been developing the energy system of the future. Using its energy IoT platform, GreenCom integrates distributed assets like solar PV, battery storage, electric vehicles, and heat pumps. Based on its platform, GreenCom enables white-label end customer services like energy communities, smart heating, smart charging, as well as home energy management including optimization and visualization of energy flows in homes for utilities and manufacturers of energy-relevant devices. For more information, visit or connect GreenCom Networks on LinkedIn.

Forward-Looking Statements

This press release contains forward-looking statements (such as statements in the future tense and statements including “anticipate,” “believe,” “enhance,” “expect,” and similar terms and concepts), including statements related to the timing of obtaining regulatory approvals and the timing of the closing of the transaction; the expected benefits of the transaction to installers and customers; the expected capabilities and performance of Enphase Energy’s and GreenCom Network’s technology and products; our business strategy, including expansion and the market adoption of our products; and the anticipated market demand for Enphase products. These forward-looking statements are based on Enphase’s current expectations and inherently involve significant risks and uncertainties, including, but not limited to, the risk that the transactions are terminated prior to closing or the related transactions do not otherwise close (or close on terms different than what has been agreed as of the date hereof); the parties’ failure or inability to perform their respective obligations under the related transaction agreements; and market acceptance of future product offerings. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of certain risks and uncertainties, including those risks described in more detail in Enphase’s most recently filed Quarterly Report on Form 10-Q for the quarter ended June 30, 2022, its Annual Report on Form 10-K for the year ended December 31, 2021 and other documents on file with the SEC from time to time, which are available on the SEC’s website at Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations, except as required by law.


Karen Sagot
Enphase Energy, Inc.
Investor Relations

Klaus Mueller
GreenCom Networks AG

GETEC and GreenCom Networks found joint venture

GETEC Green Heating makes economical switch to climate-neutral real estate possible


• GETEC and GreenCom Networks (“GreenCom”) enable cost-neutral switching to a climate-neutral and sustainable energy supply for real-estate owners.
• Offer follows successful launch in region of Germany, Austria and Switzerland.
• The joint venture, GETEC Green Heating GmbH, will replace hundreds of thousands of outdated electric storage heaters with a new controllable storage heating system powered by green energy.
• Services include equipment replacement and operational management with no additional investment on the part of the owner. Tenants enjoy long-term price security combined with increased comfort.

Magdeburg/Munich, March 11, 2021

With Green Heating, GETEC presents a concept that allows real-estate owners to make a cost-neutral switch to a climate-neutral and sustainable energy supply. In addition to Fossil-to-Green solutions that replace fossil energy supplies with modern and climate-friendly energy systems, the concept also includes a Green eHeating program that GETEC has developed together with leading energy IoT company GreenCom Networks. Through a joint venture, known as GETEC Green Heating GmbH, hundreds of thousands of old electric storage heaters will be replaced in the future with a new, controllable storage heating system powered by green energy.

The new system can achieve significant CO2 savings in existing buildings and make an enormous contribution to combating climate change: Currently, there are more than 11M storage heaters installed in Europe, with UK (> 5M), Germany (> 4M) and Spain (> 1.5M) leading in numbers. The average age of these storage heaters is over 20 years, which leads to reduced efficiency, continuously rising energy costs and little comfort for tenants. Apart from improved comfort and efficiency, replacing the equipment would also create opportunities from an energy perspective: In Germany, for instance, the combined total of all installed storage heaters could provide 15 TWh of storage capacity per year if they were bundled into virtual power plants. However, storage heaters have hardly any digital connections that would allow them to be controlled.

“Currently, storage heaters not only provide little comfort for residents but also constantly increase energy costs and are usually not digitally connected or controllable. This makes such apartments less significantly attractive. With GETEC Green eHeating, we eliminate these disadvantages and create a housing solution that not only involves low risk, but also increases the value of the property – without additional costs. After launching our solution to the German-speaking market, we’re delighted to expand to the rest of Europe now, “explains Michael Lowak, Segment CEO Real Estate Management at the GETEC Group.

GETEC Green Heating GmbH offers a contracting product for heat delivered as a service. Old storage heaters are replaced with new, digitally connected and controllable heat storage systems. The offer comes without installation costs in return for a 15-year heat-as-a-service contract and includes all necessary services such as hardware de-installation and installation as well as operational management, maintenance and billing. GreenCom Networks connects all the storage heating systems involved to its energy IoT platform, optimises the energy flows, and provides operational monitoring of the heating systems, including the virtual power plant. This enables GETEC to take advantage of the load and storage flexibility of the systems.

Peter Müller-Brühl, COO of GreenCom Networks AG, explains, “The GreenCom platform connects and controls all the plants involved in the GETEC Green eHeating products. The integration and optimisation of so many plants enable modern heat contracting as a new type of service with future-proof value-added possibilities. At the same time, the ‘heat-as-a-service’ product creates clear advantages for everyone: tenants enjoy greater comfort and the planning security of a long-term contract with a fixed heating price for years to come. Property values are increased through an improved emissions balance and without additional costs or loss of rent due to renovations or new installations. Ultimately, the energy system acquires additional decentralised storage capacity and marketable flexibility “.



About GreenCom Networks
GreenCom Networks is a leading energy IoT company with offices in Munich, Germany and Sophia-Antipolis, France. GreenCom has been developing the energy system of the future since 2011. With its Energy Information Brokerage Platform (eibp), GreenCom integrates distributed assets such as photovoltaic systems, battery storage, electric vehicle chargers and heat pumps. Building on its industry-leading platform, GreenCom enables white-label end-customer services such as energy cooperatives and energy flat rates. GreenCom also offers optimisation and visualisation of energy flows in homes, for utilities and manufacturers of energy-relevant devices. For more information, please visit

GETEC is a leading partner for industry and the real-estate sector delivering smart, efficient and green energy solutions in Germany and beyond. Our promise “We have the energy for more” is the guiding principle for more than 1,500 employees who use their outstanding engineering expertise, excellent regulatory competence, quick action and proven sustainability skills to navigate our customers through an increasingly complex energy world while consistently reducing their carbon footprint. GETEC is active at over 40 locations in eleven countries and generated total operating revenue of around €700 million in 2019. Find out more about the GETEC Group at

GreenCom announces investment from Shell

GreenCom Networks announces €12 million equity funding round led by  Shell Ventures


  • Shell Ventures and Energy & Environment Investment join existing investors (including Centrica and E.ON) to further GreenCom’s mission to become the leading residential energy IoT platform.
  • GreenCom is already connecting many Home Energy Management devices for energy companies such as Centrica, E.ON, ESB, and is rapidly scaling deployment of its platform across Europe.
  • Shell Ventures and EEI bring extensive experience in the distributed energy sector and provide GreenCom a strong gateway to new international markets.

Munich, 2nd December 2020.

GreenCom Networks AG (“GreenCom”) is pleased to announce the conclusion of its latest financing round of €12 million, led by Shell Ventures and supported by Energy & Environment Investment (“EEI”) and existing investors. The investment enables GreenCom to expand its strategy of international growth and to further enhance its pioneering position as the leading residential energy IoT company in Europe.

Shell Ventures, Shell’s corporate venture capital arm, and Japanese venture capital firm EEI have joined existing investors such as Centrica, E.ON’s Future Energy Ventures, Munich Venture Partners and SET Ventures to further advance GreenCom’s state-of-the-art technology solutions to digitally connect distributed assets and provide a leading IoT platform for home energy management. Among others, GreenCom’s platform is able to connect, control and optimise home energy devices such as solar PV systems, battery storage units, heat pumps and electric vehicle chargers, across a range of different models and manufacturers.

Based on its highly scalable and secure software technology, GreenCom enables its customers to use new customer-centric service models such as heating as a service, flexibility revenue, energy flat rates, dynamic tariffs, home energy management or energy communities. Through GreenCom, end users can easily and conveniently manage their energy use, optimise costs and share energy with their communities through one single platform.

GreenCom is already partnering with various companies to offer new services in a digital energy world, such as Centrica. For the UK utility giant, GreenCom is powering the Home Energy Management platform to its UK customers. In addition, GreenCom is connecting and managing over 3 MW of decentralised energy asset capacity for a smart city district in Cologne containing nearly 700 apartments. For its customer RheinEnergie, GreenCom connects assets such as solar PV, battery storages, heat pumps, heating blades, storage tanks as well as district heating and optimises energy flows.

The new funding from Shell, EEI and existing investors will be used to enhance GreenCom’s energy IoT leadership position in Europe, while also leveraging its new investors to penetrate markets outside Europe and connect GreenCom with new heat pump, inverter, and battery storage manufacturers in Asia.

“We have been very impressed by the quality of the technology platform and the management team at GreenCom,” says Jurgen Hornman, Investment Director at Shell Ventures. “GreenCom’s ability to connect, provide insights into, and control distributed energy assets such as solar PV, battery storage, EV chargers and heating devices of various manufacturers greatly enhances a service provider’s ability to offer integrated home energy solutions to end consumers, energy communities and a fast-growing group of prosumers. Christian and the team have also found innovative routes to market through large-scale partnerships. We look forward to supporting GreenCom in its rapid scaling and internationalisation journey.”

Shuichiro Kawamura, founder and CEO of Energy & Environment Investment, says: “GreenCom provides the platform for the much-needed energy systems for the coming decade. Their products enable various types of distributed assets in a smart way by connecting and coordinating with other assets through their cloud. We look forward to connecting GreenCom with our network partners in Japan, such as large utilities or operators and manufacturers of heat pumps, inverters, and battery storage devices. We are excited to join one of the most advanced technology companies enabling energy system transition.”

Christian Feisst, CEO of GreenCom Networks, notes: “With Shell Ventures and EEI we’ve found two excellent new investors towards the future: Shell provides extensive experience in the distributed energy industry with a track record of impactful investments. EEI, as the only venture capital company in Japan focused on the cleantech sector, adds a strong gateway to, and profound knowledge of the energy and distributed asset manufacturer landscape in Japan, one of the fastest liberalising and “greening” power markets in the world.”

Munich Re acquires relayr

Munich Re buys IoT middleware

startup, realyr, in deal worth 300M


MVP portfolio company relayr, whose middleware platform is geared towards helping industrial companies unlock data insights from their existing machinery and production line kit by linking Internet connected sensors and edge devices to platform controls, has been acquired by US based Hartford Steam Boiler, a subsidiary of insurance group Munich Re.

Click here to read the full press release