Ostrom 2nd Birthday: Turning Headwinds into Wind Power

By
Karl Villanueva
8.5.2023

3

Min.

Ostrom turns 2!

What a topsy-turvy year it was for the energy world! While Europe and the world faced the deepest energy crisis in years due to the Russia-Ukraine war, this has also accelerated Europe and Germany’s push for further independence from fossil fuels and more investment into renewables.

It was also in this tough environment where we saw our true believers, as Ostrom closed its Series A investment in December 2022 with our two new US-based investors: Union Square Ventures and Adjacent. We could not be more excited to have such strong backing to further our mission of being the leading energy management platform in Germany and in Europe.

Ostrom Year In Review

On our second year, Ostrom continues to push further:

• Supplying 3000+ cities and towns in Germany
• Switched clients from 600+ competitors already
• 25 amazing team members from 16 last year
• 13.7m€ in total funding raised
• 4.8★ Trustpilot, 1300+ reviews, #1 in DE
• Won World’s Best Challenger Brand at Charge Awards 2022
• Got our TÜV Nord Certification in November 2022
• The only energy company with a 60:40 female:male ratio
• Became the only Certified B Corp energy company in Germany
• Launched dynamic pricing beta
• Launched EV smart charging beta
• Launched Marketplace partnerships starting with Zaptec chargers
• Launched partnerships such as with Soly solar PV systems

We could not be happier with all the milestones our entire team has achieved in such a short time. This is truly groundbreaking and we would like to use this time to thank our entire team, angels, investors and partners for helping us get where we are today!

Turning Lemons into Lemonade

The energy crisis of 2022 came on the back of the Kremlin’s invasion of Ukraine in February 2022. Fossil fuel imports were throttled, causing steep price increases continent-wide especially for natural gas. Given the merit order effect, this impacted all prices, including those for renewables. The impact was tough and led to a spike in inflation and a scramble for new energy sources.

But this crisis has led to an expedited timeline and importance in the renewable energy transition. Energy independence was not just environmental, it became geostrategic. From the Strompreisbremse, to new LNG terminals, to an overhaul of the bureaucratic red tape for new builds, to the new law pushing for smart meters—Germany, its government and consumers, have had a reinvigorated push for more renewables and better energy management.

Ostrom in 2030: Leading Energy Management Platform in Europe

As always, we remain committed to our goal of becoming the leading energy management platform in Europe by 2030. The impacts of climate crisis are coming fast yet still may be avertable. Our core thesis at Ostrom is empowering consumers to manage and use less energy through dynamic tariffs via a faster smart meter rollout and focusing on optimizing high energy-use items like EVs and heat pumps to make a marked impact on our targets.

We are rolling out significant new improvements to our customers on practically a weekly basis now, so watch this space. We have a lot of news over the next few months!