Japanese tech giant Panasonic has invested €30m in German smart home energy management firm Tado°.

The funding will help Tado° continue its mission in green energy transition with its smart thermostat, heat pump optimiser, dynamic energy tariffs and software that drive down consumption for households across Europe. Tado° helps almost a million homes across Europe reduce their energy consumption and cost.

The investment comes a year after the two companies signed a partnership agreement that combined Panasonic’s heat pump products and technology with Tado°’s smart heating control and energy management services.

Customers have benefitted from tailored heat pump management software that optimised their Panasonic Aquarea heat pump settings automatically and shifted its electricity demand to times when renewable energy was available and prices were lower.

In addition, the Heat Pump Optimizer X automatically adjusts to changing outside temperatures to improve the COP coefficient and to adjust the heating curve. Customers with a photovoltaic (PV) system on their roof can benefit from self-optimisation algorithms to make best use of self-produced electricity.

“We warmly welcome Panasonic as the newest shareholder in Tado°,” said co-founder Christian Deilmann. “We are delighted to strengthen our partnership and deliver outstanding mutual propositions for our customers in Europe. We are thankful for the trust by Panasonic and are looking forward to driving the green energy transition together.”

Eiichi Katayama from Panasonic added: “We are delighted to invest in Tado° because working together has only increased our belief that both companies are aligned in our missions to contribute to both comfortable living and a sustainable environment on the planet. We believe Tado° is the best partner in this aim because it strengthens the compelling proposition Panasonic Aquarea heat pumps offer our customers.”

Founded in Munich in 2011, Tado° offers households one simple, easy-to-use platform to control their energy consumption and significantly reduce costs while also driving the green energy transition. Its hardware, software and services deliver simple and efficient home climate management, intelligent electric vehicle charging, and dynamic energy tariff and photovoltaic integration on one platform. The objective is to offer maximum comfort and savings while automatically shifting electricity consumption to the cheapest and greenest hours of the day.

Tado° (www.tado.com) is a vendor agnostic platform, providing compatibility to most vendors of home energy equipment. In 2022, Tado° acquired Awattar, a pioneer in the field of dynamic energy tariffs, as part of its vision to offer a complete yet simple home energy management package.

To learn more about the Panasonic Group, visit holdings.panasonic/global.