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Largest ClimateTech Public Companies in Germany
Benchmark revenue and EBITDA valuation multiples for public comps like
EnBW, Uniper, Nordex, SMA Solar Technology and PNEGroup.
 | EnBW Energie Baden-Wuerttemberg AG is active in the energy sector in Germany and the rest of Europe. It operates in three segments: Smart Infrastructure for Customers, which comprises the sale of electricity and gas, energy industry services and energy solutions, provision and expansion of quick-charging infrastructure and digital solutions for electromobility, broadband activities; System Critical Infrastructure segment is into the transmission and distribution of electricity and gas; and Sustainable Generation Infrastructure segment, which generates maximum revenue, encompasses activities in the areas of renewable energies and conventional generation, district heating and waste management/environmental services. Geographically, the company generates maximum revenue from Germany. | $81 | +3% | $26B | $39B | 1.0x | 5.6x | ||
| Uniper SE is a Germany-based energy generation and energy trading company. The firm operates through three segments: Flexible Generation, Greener commodities, and Green Generation. The Green Generation segment comprises emission-free power generation plants that the Uniper Group operates in Europe. The Flexible Generation segment comprises the power and heat generation plants that the Uniper Group operates in Europe to flexibly meet grid operators' requirements. The Greener Commodities segment bundles the energy trading and optimization activities and forms the commercial interface between the Uniper Group and the globally traded markets for energy and the major customers. The majority of revenue is derived from the Greener Commodities segment. | $51 | +10% | $21B | $13B | 0.2x | 5.0x | ||
| Nordex SE is a German company that develops, manufactures, services, and markets wind power systems. The company manages its activities via Projects and Service segments. The projects segment includes all activities associated with the development, production, assembly and commissioning of wind turbines and project development business. The services segment encompasses services and projects for existing turbines after their handover to customers. In particular, this includes technical services such as maintenance and remote monitoring of wind farms as well as repair and technical enhancements for existing turbines. The majority of the sales are done through the projects segment. | $53 | +155% | $12B | $11B | 1.2x | 14.2x | ||
| SMA Solar Technology AG produces, develops, and sells systems and solutions for the efficient and sustainable generation, storage and use of solar energy. Its products include PV and battery inverters, monitoring systems for PV systems, charging solutions for electric vehicles as well as energy management systems, and digital services for the future energy supply. The company operates through the following segments; Home Solutions, Commercial & Industrial Solutions, and Large Scale & Project Solutions. The Large Scale & Project Solutions segment, which derives key revenue for the company, offers products, systems and solutions for industrial solar, storage and hydrogen projects as well as for the conversion of utility grids to a higher proportion of renewable energy. | $74 | +227% | $3B | $2B | 1.4x | (32.4x) | ||
| PNE AG is a developer of projects in the renewable energy sector. The company's core business is the project development as well the construction and operation of onshore and offshore wind farms. It operates in three segments: project development (project planning of wind energy and photovoltaic projects) and services (management and servicing of wind farms and PV power plants as well as revenues from transformer station usage fees). In the power generation segment, revenues were achieved by the sale of electricity from ongoing operations of wind farms and of the Silbitz biomass power station. Key revenue is generated from power generation segment. | $11 | -37% | $855M | $2B | 7.0x | 31.0x | ||
| PSI Software SE is a software producer in process control and information systems. Its core business consists of process control and information systems for managing energy and material flows in industries tailored to the electricity, gas, oil, and district heating sectors, engineering, automobile, and automotive supply and logistics sectors. The company's segments include Energy Management, which offers intelligent solutions for utility companies in the electricity, gas, oil, and water sectors; the Production Management segment provides solutions for planning and controlling production processes in metals production, logistics, mechanical engineering, and automotive manufacturing. It generates maximum revenue from the Energy Management segment. | $53 | +45% | $832M | $900M | 3.0x | 2497.3x | ||
| Centrotec SE is a holding company. Along with its subsidiaries, it operates in the following segments: Industries, Real Estate, and Finance. The majority of the group's revenue is generated from the Industries segment, which develops, produces, and markets flue gas systems for condensing boiler heating systems and air duct systems for residential ventilation with heat recovery. Roofing products and systems for generating renewable energy complement this segment's portfolio. The Real Estate segment holds and develops real estate for the group's own portfolio or for third parties, and the Finance segment manages investments, venture capital investments, and the investment of its financial resources. | -- | -- | $804M | $948M | 2.5x | 18.5x | ||
| Energiekontor AG engages in the planning, construction, and operational management of wind and solar farms. It operates through the following segments: Project Planning and Sales (Wind, Solar), Power Generation in Group-owned Wind and Solar parks, as well as Operation development, innovation and others. The Project Planning and Sales (Wind, Solar) segment focuses on project development for onshore wind farms and solar parks for sale outside the Group which also contributes to majority of the revenue for the company. The Operation development, innovation and others segment comprises all services following the construction of the wind/solar park that are aimed at optimizing the operational value creation from the time of commissioning. | $55 | +11% | $761M | $1B | 8.0x | 12.9x | ||
| ADS-TEC Energy PLC produces, develops, and markets battery-buffered EV charging systems infrastructure, battery storage systems, and cloud-based services that enable the customer to control and manage the system. ADSE generates revenue mainly through the sale of its products, services, and Big-LinX. Geographically, it derives a majority of its revenue from Germany. | $12 | -8% | $691M | $757M | 5.9x | (8.7x) | ||
| 7C Solarparken AG is a Germany-based company. It is in development, manufacture & operation of photovoltaic energy systems. | $2 | -5% | $175M | $349M | 4.6x | 7.7x | ||
| Pyrum Innovations AG is a recycling technology company. The company recycles end-of-life tyres with its patented pyrolysis technology, obtaining new raw materials such as recovered carbon black, pyrolysis oil and gas. The company operates in the recycling market for end-of-life tyres. It generates revenue from customers in Germany and European Union. | $31 | -11% | $135M | $153M | 31.7x | (25.4x) | ||
| Clearvise AG is an independent electricity producer from renewable energies with a diversified European plant portfolio. Its activities include the operation and development of a portfolio of energy production facilities producing energy from renewable sources such as wind and solar. The company has several wind turbines and solar plants in France, Germany, Ireland, and Finland. Its operating segments include Wind farms, which derive key revenue, Solar farms, and others. | $1 | -23% | $112M | $375M | 8.4x | 12.5x | ||
| XCHG Ltd is engaged in designing, manufacturing and selling Electric Vehicle (EV) chargers and EV charging solutions, which include the DC fast chargers named the C6 series and the C7 series, the battery-integrated DC fast chargers which is Net Zero Series (NZS), as well as accompanying services. Its integrated solution, combining proprietary charging technology, energy storage technology, and accompanying services significantly improves EV charging efficiency and unlocks the value of energy storage and management. Its NZS solution enables fast charging at low power locations or vis-a-vis aged grid infrastructures (which typically are not compatible with fast charging equipment) with no site improvements or grid upgrades needed. | $1 | -43% | $64M | $61M | 2.4x | (1.9x) | ||
| ABO Energy GmbH & Co KGaA develops and builds wind and solar farms as well as battery and hydrogen projects worldwide. It monitor, manage, maintain, and repair renewable energy plants with more than 2,500 megawatts of capacity. | $7 | -84% | $64M | $384M | 0.7x | 5.4x | ||
| Sono Group NV is engaged in the field of solar-powered electric mobility. With its proprietary solar technology, the company is able to integrate solar panels into a vehicle’s bodywork, using energy captured from the sun to charge the vehicle’s battery. The group is engaged in the design and development of its own first solar electric vehicle, the Sion. Its Products and Services includes Complete Solar Solutions, Solar Charge Controllers, Solar Modules, and Data Services and Engineering Services. | $4 | -- | $6M | $7M | 38.3x | (0.7x) | ||
| Lilium NV creates a sustainable and accessible mode of high-speed, regional transportation. Using the 7-Seater Lilium Jet, an electric vertical take-off and landing jet, offering leading capacity, low noise and high performance, it is building a transport network and service for people and goods. | $0 | -100% | $127K | ($116M) | — | — | ||
| Next e GO NV designs and manufactures battery electric vehicles for the urban environment, with focus on convenience, reliability and affordability. It has developed a disruptive solution for producing its electric vehicles using proprietary technologies and low cost MicroFactories. | -- | -- | $9K | $9K | — | — | ||
| Median | $12 | -7% | $691M | $757M | 3.0x | 5.6x |
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