Osborne Clarke advises ECO2GROW on their seed financing round of over EUR 4 million

Osborne Clarke has advised the Bonn-based GreenTech start-up ECO2GROW on their successful seed financing round totalling EUR 4 million.

A digital platform through which medium-sized businesses can source green electricity directly from solar and wind farms: This is what the Bonn-based GreenTech ECO2GROW, founded by Paul Appel, Konrad Ciezarek, and Niklas Radermacher, offers. Until now, it has been difficult for medium-sized companies to purchase sustainably produced electricity directly from producers, as such direct delivery contracts (Power Purchase Agreements, or PPAs) have high minimum purchase quantities that SMEs do not require. On ECO2GROW's platform, multiple medium-sized businesses can bundle their electricity needs and conclude virtual delivery contracts – through these multi-buyer vPPAs, wind or solar farm operators also gain an attractive new target group. ECO2GROW's customers come from, among others, the automotive industry, mechanical engineering, and plastics processing and are currently supplied with over 50 gigawatt-hours from German photovoltaic and wind farms thanks to the digital platform.

The start-up has now successfully completed its seed financing round: The Cologne-based early-stage investor neoteq ventures, NRW.BANK, Vireo Ventures, and Techstars are investing EUR 4 million in ECO2GROW.

“The energy transition is a task for society as a whole, and medium-sized businesses play a key role in this. Our platform supports companies in digitising their energy supply, switching to renewable energies, and adapting to the new reality in the electricity market,” says Paul Appel, CEO of ECO2GROW.

ECO2GROW was advised by an Osborne Clarke team led by Nicolas Gabrysch and consisting of Maximilian Vocke, Giovanni Alexandrov, Benedikt Hülsmann (all Corporate / VC), Annabel Lehnen, Nils Wiehmann (both Employment), and Ann-Kristin Lochmann (Tax).