Germany’s Co-Power raises €6.4M to help European factories take power into their own hands

Munich-based Co-Power, a company building decentralised energy infrastructure, raised €6.4M led by Cherry Ventures.

Based out of Berlin, Cherry Ventures is an early-stage venture capital firm that invests in European pre-seed and seed-stage startups operating in B2B software, fintech, industrials, health tech, climate tech, and consumer sectors.

“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.”

Other participating investors include the German energy- and impact-focused family offices Abacon Capital and Aurum Impact, as well as the founders of Flixbus.

Notable individuals among the investors are Dierk Paskert, the former CEO of Encavis and a board member at TotalEnergies; Tobias Schütt, the founder of DZ4; and Constantin Eis, the former CEO of LichtBlick and the current CEO of CMBlue.

The company will use the funds to accelerate the roll-out of its energy systems and support the launch of its industrial Virtual Power Plant (VPP).

What does Co-Power solve?

Europe’s industrial sector is struggling because electricity prices are more than double those in the US and China.

This high cost is making it hard for companies to compete and forcing them to cut back on production.

Although Europe has invested a lot in renewable energy, problems like a lack of storage and inconsistent wind and solar power are causing big price swings. Rising grid fees are also increasing costs for businesses.

How does it solve?

Co-Power’s mission is to provide local electricity generation and storage to strengthen resilience and restore cost leadership to European industry.

Founded by Kilian Zedelius and Jan Krüger, the German company installs and operates large-scale battery and solar photovoltaic (PV) systems directly at industrial sites.

This enables companies to reduce energy costs by up to 50 per cent, better manage price volatility, and achieve greater energy autonomy.

“Renewables offer abundant, low-cost electricity – but only if we solve the flexibility challenge,” says Krüger. “That means putting storage and generation where it matters most: directly on-site with the industrial companies that power Europe.”

Co-Power is creating an industrial Virtual Power Plant (VPP), which is a network of decentralised clean energy systems.

This project aims to help companies turn energy from a cost into a strategic advantage. The software will optimise and manage energy usage, making sure solar and wind energy is available around the clock.

This model transforms factories into autonomous energy hubs: reducing grid fees, optimising solar consumption, and enabling smart energy trading.

“Too many European companies struggle with energy prices,” says 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.”