Greentech Obi DIY store energy renovation circular business
DIY store chain goes greentech: The DIY store Obi is relying on the opportunities presented by the energy transition and is expanding its portfolio in the Home & Garden environment for its customers.
Through OBI SQUARED as a corporate venture capital arm (CVC), the hardware store brand is joining the company 42watt as an early-stage investor. The Munich-based clean-tech start-up is one of the leading providers of comprehensive services in the areas of energy, renovation and funding consulting. OBI offers its customers a central point of contact for all questions relating to the energy-efficient renovation of houses.
Greentech Obi DIY store energy renovation Prop Tech
Greentech Obi focuses on the energy renovation consulting market
“Our partnership with 42watt is a holistic and, above all, sustainable investment to actively advance the energy transition and participate economically. 42watt currently has one of the best products on the energy renovation consulting market and fits perfectly into the existing customer journey between the basic assessment of the needs for an energy renovation and the in-house network of tradesmen in one of the strategically most important areas for OBI,” says Manuel van de Kamp, Chief Product Officer at OBI.
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Felix Weber, Head of Corporate Venture Capital at OBI SQUARED, adds: “We are not only creating a new partnership, but also real added value for our customers – whether in the hardware store or via our digital ecosystem heyOBI. Here too, our goal is to provide friction-free support and assistance to customers, from recognizing a fundamental need for renovation to advising on necessary measures and their eligibility through to concrete implementation.”
Green technology from the hardware store – win-win for everyone involved
Investing in the Munich-based clean-tech start-up is a classic win-win situation: thanks to OBI’s high brand awareness, the young company is opening up new sales channels in the highly attractive DIY environment and can rely on the further technological development of its business Focus on product thanks to direct customer feedback. “OBI’s investment in 42watt is not only a vote of confidence, but also a solidarity to sustainably upgrade and convert housing.
“Our product and our expertise are used where people of all ages are looking for advice for their own home: in the OBI hardware store environment,” says Dr. Jörg Überla, co-founder and CEO of 42watt.
Against this background, OBI announces with this press release the investment of its corporate venture capital arm OBI Squared in the Munich tech start-up 42watt.