Eneco Group acquires minority interest in Thermondo


Eneco Group has acquired a minority interest in Thermondo, a German start-up that sells and installs residential heating systems.

Since their start in 2012 Berlin-based Thermondo has been pioneering in the areas of digital customer care and smart energy services. Thermondo has developend software that can monitor and optimise energy consumption at individal household levels. With the help of this software Thermondo's customers can lower their CO2 emission and save money at the same time. Thermondo has a reputation for beeing an innovative and disruptive player in the traditional market residential heating systems.

Joeri Kamp, managing director Smart Energy at Eneco Group: ‘Thermondo is successful in the way they focus on and interact with their customers and in their efforts to develop smart energy services. We are eager to learn from their specific approach and we will further investigate the options to work together in the area of smart home and smart energy services.'

Philipp Pausder, CEO and co-founder of Thermondo: 'Due to the rapid growth of our company since its foundation in 2012, we now have 50 installation teams in place throughout Germany. However, we are just starting the development of a digital Energy Services Platform for homes. In order to realise the necessary growth, we need strong partners. Eneco is the right partner for us at this stage, not only for scaling-up the model but also because of the shared vision of both companies.'



About Thermondo 

Thermondo is based in Berlin and was founded in 2012 by Philipp Pausder, Florian Tetzlaff and Kristofer Fichtner (photo). Thermondo is Germany’s market leader for the retrofitting of heating systems in residential homes and has more than 300 employees, including 150 heating technicians. Thermondo has set itself the goal of actively driving the energy transition by providing customer-oriented, innovative and environmentally friendly energy solutions.

Thermondo is a member of the German Sanitation, Heating and Air Conditioning Association (Zentralverband Sanitär Heizung Klima, ZVSHK) as well as the Berlin Chamber of Crafts. In 2015 and 2016, Thermondo was ranked among the top 10 fastest growing companies in Germany by the leading startup publication Gründerszene. Thermondo was also named one of the most influential 100 Cleantech companies in the world. For more information visit