German cleantech unicorn 1Komma5 has acquired Australian solar installer and power retailer Arkana Energy Group in a move that enhances its foothold in the local market.
The provider of energy systems and software in the solar power, energy storage and e-mobility sectors unveiled the purchase on Thursday without disclosing financial details. “This expansion in Australia is our largest investment to date. Arkana fits perfectly with our ambitious growth goals and our mission to create a global one-stop shop for renewable energy solutions,” said Philipp Schroder, CEO and co-founder of 1KOMMA5.
Qeensland-based Arkana has installed more than 15,000 solar plants in private and commercial buildings across its home country to date. The company is active in the states of Queensland, New South Wales and Victoria. Last year, it generated sales of some EUR 30 million (USD 32.4m).
1KOMMA5, among whose backers are German sports car manufacturer Porsche and battery maker Sonnen, first stepped on the Aussie market in 2022 when it bought local firm Natural Solar. At present, it operates in six locations in Australia and plans to more than double its presence following the latest deal.
1Komma5 achieved unicorn status in a EUR-215 million financing round last year.
(AUD 1.0 = USD 0.650/EUR 0.601)
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