PPC has raised €12 million growth capital with Siemens Financial Services’ Venture Capital unit (SFS VC) and British Gas (BG) with participation from existing investor Climate Change Capital Private Equity (CPE). The strategic investment will accelerate PPC’s market growth in Europe and in the Middle East and also establish its role in the transformation of the German energy system. Both SFS VC and British Gas welcomed the strengthening of their portfolio of advanced ICT solutions for Smart Grid and Smart Metering.
Phil Bentley, Managing Director at British Gas, said “Power Plus Communication’s’ world leading technology will enable us to connect more of our customers with smart meters, transforming their relationship with energy and helping them better manage fuel bills.”
“We are convinced that BPL will play an important role in the smart grid of the future. With its established applications set, PPC will contribute to the open innovation approach taken by Siemens,” said Dr. Detlef Pohl, Managing Partner of SFS VC.
“We are very satisfied that during our competitive fund raising process, we were able to select two investors as partners who we believe will be able to substantially contribute to the future development of PPC” added Bruno Derungs, Partner at Climate Change Capital Private Equity.
With the Round B investment PPC broadens its investor base where CPE will remain the major shareholder. Further shareholders of the company include founders, management and key employees. Dr. Detlef Pohl of SFS VC and Mr. Petter Allison of British Gas will join Dr. Manfred Krüper (chairman of the board), Prof. Dr. Torsten Gerpott and Bruno Derungs on the supervisory board of PPC.
Power Plus Communications, Mannheim, is a leading provider of Broadband Powerline communications systems for Smart Metering and Smart Grids. Both Managing Directors Ingo Schönberg (CEO) and Eugen Mayer (COO) have led the company since its foundation in 2001.
PPC’s Broadband Powerline technology provides DNOs and utilities with a powerful communications solution enabling Smart Metering and Smart Grids. Our open, standards-based BPL communications technology uses the existing electricity grid itself for broadband data transfer, in real-time, encrypted and Internet Protocol based.
As a pioneer of BPL technology, PPC has outstanding experience and expertise and has already implemented BPL networks in electricity distribution grids supplying more than 500,000 households. Our customers include leading European DNOs and utilities such as E.ON, WPD and EnBW as well as utilities such as MVV Energie AG, Stadtwerke Düsseldorf, DEW21 (Dortmund) and Stadtwerke Ratingen. PPC is a partner in multiple Smart Grid projects such as E-Energy (Germany), the Low Carbon Network Fund (Great Britain) and DG Demogrid (Austria). We have won numerous awards for our innovative products and solutions, including three GB Bullhound’s Cleantech Connect awards, a selected landmark of “Germany, Land of Ideas” and the “Guardian Global Cleantech 100”.