Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 34 n° 151

GFJ ESG Acquisition I SE and tado GmbH, a European market leader for intelligent climate management

Posted by fidest press agency su giovedì, 20 gennaio 2022

GFJ ESG Acquisition I SE (“GFJ”), a Luxembourg special purpose acquisition company (SPAC), signed a mutually exclusive Letter of Intent and agreed on the terms of a business combination with tado GmbH (“tado”), a European market leader for intelligent climate management. In case of a successful closing of the business combination, tado will be publicly listed on the Frankfurt Stock Exchange. In connection to the business combination GFJ will raise further capital in a private investment in public equity transaction (“PIPE Transaction”). It is currently envisaged that the transaction will value tado with an enterprise value of approximately EUR 450 million.As the only cross-manufacturer solution, tado’s Smart Thermostats and services connect with any kind of heating or cooling system. Matching over 18,000 systems from more than 900 manufacturers, tado is compatible with around 95% of Europe’s residential buildings and households. Simple to install and equipped with intelligent data management technology, its products are a plug-and-play solution resulting in less money spent on heating: customers save an average 22% on heating cost per year by using tado’s technology. tado enables its customers to benefit from energy-saving technologies such as geofencing and open-window detection as well as the integration of weather forecasts. With over 2 million sold smart thermostats and an installed base of 7 GW energy capacity in over 400,000 buildings and households, tado’s technology already helped to avoid 730,000 tons of CO2.Tado will use its connected buildings and households to create one of the most impactful energy efficiency and management platform for Europe and beyond. Capturing the entire value chain from grid integration and distribution to energy retailing and consumption, tado addresses the multi-billion-dollar value pools of energy efficiency, smart energy tariffs and demand response solutions.tado’s business success is expected to result in rapid revenue growth with the aim of delivering more than EUR 0.5 billion in revenue by 2025.The company’s competitive advantage is driven by its technological edge. AI-driven, model-predictive control and a deep understanding of individual thermal capacity of connected buildings and households lead to significant improvement of energy efficiency and low energy cost.The tado energy efficiency platform delivers high savings for consumers, with tado’s solutions paying for themselves within the first year on average, whilst proving as a substantial business for tado across both hardware and SaaS subscription software services. tado offers time-of-use energy tariffs which enable customers to benefit from volatility in the energy markets. The increasing energy production from growing renewable energy sources leads to higher volatility in the energy market. When the availability of wind or solar energy is high, energy prices drop significantly. tado’s technologies use these times in particular to load buffer storage tanks and hot water tanks when the price of energy is lower. This intelligently shifts the energy consumption of homes to more favourable times and lowers energy costs whilst retaining the level of comfort customers are used to.


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