Thermondo founder and CEO Philipp Pausder has built a company with around 800 people over the past ten years.
The company, which Philipp Pausder, Florian Tetzlaff and Kristoffer Fichtner founded in Berlin-Kreuzberg in 2013 as a clean tech startup, today calls itself “Germany’s largest heating installer”. Thermondo was originally a brokerage platform for heating engineers. The startup now employs the majority of its craftsmen itself. Thermondo claims to have already replaced 35,000 heaters in private homes with more climate-friendly versions. Since June 2022, the company has also been offering the installation of heat pumps. At the beginning of 2023, Thermondo entered the solar business and has also been installing photovoltaic systems since then. The company currently has more than 800 permanent employees, more than 500 of whom are craftsmen.
Want to be in the black
According to its own information, Thermondo generated sales of more than 100 million euros in 2022. The goal for 2023 was to achieve growth of 60 percent, announced the founder and CEO Philipp Pausder. This means that Thermondo should be in the black for the first time. Since January 2021, the company has been majority owned by the Canadian private equity firm Brookfield; other investors include Future Energy Ventures, HV Capital, Vorwerk Ventures, Rocket Internet and 10x.
Canadian fund takes over majority stake in Thermondo