GETEC and GreenCom Networks found joint venture

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

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• 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• The joint venture, GETEC Green Heating GmbH, will replace hundreds of thousands of outdated electric storage heaters with a new controllable storage heating system powered by green energy.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 “.

End

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 www.greencom-networks.com

About GETEC
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 www.getec-energyservices.com

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GETEC and GreenCom Networks found joint venture

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

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