Munich-based Co-Power successfully raised €6.4M, led by Cherry Ventures, to develop decentralised energy infrastructure. As Europe's industrial sector faces soaring electricity costs—more than double those in the US and China—Co-Power aims to address the issue by providing local energy generation and storage solutions. This strategy not only reduces operational costs but also enhances energy resilience amid fluctuating prices. The investment will aid in launching Co-Power's industrial Virtual Power Plant, further supporting its mission to empower European industries struggling with high energy costs.
Co-Power is bringing a much-needed solution to the European industrial sector at a critical time. 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.
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.
Co-Power's mission is to provide local electricity generation and storage to strengthen resilience and restore cost leadership to European industry.
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