We are profitable, opening three more offices, and becoming an AI-native neo-utility
Our core business earns nothing until a partner installer has earned first. Access to the platform, to what we know and to our services costs them nothing: no joining fee, no subscription. Which makes our profitability announcement of 1 September weigh all the heavier. It went out as a press release, and international outlets picked it up, Forbes and Axios among them.
Because it shows, unmistakably, that our model of working in partnership with the businesses that serve around 85% of the market holds up, and that it is built to last and to scale.
Overview
Three years after launch, we are profitable, with annualised revenue of more than $350 million.
We are becoming an AI-native neo-utility.
A further $100 million in financing capacity, more than $1.3 billion in total. New offices in the UK, France and Poland.
For our partners, that means one more offering in the portfolio, under their own name. The full press release, with all the figures and topics, is at the end of this article.
What changes for installation businesses
The first step was to give ourselves room to move. How our products develop from here is our decision now. The second is what that opens up for the businesses we work with: a way to earn more from energy solutions, and to earn it more reliably.
In practice, we now set the pace and the direction on our own, which lets us build models that do not exist yet. We cannot share details at this point, but we are working on a product that is going to make serious waves.
The system becomes a power plant
The control layer in the home is already in place. Our models forecast generation and consumption house by house, the battery charges when power is cheap, and the heat pump takes that cheap power and holds the energy as hot water for hours. The homeowner notices it on the bill, not in the shower.
What is new is what happens to that flexibility. As the supplier, we have direct access to the market. We pool the financed systems into a virtual power plant and trade their flexibility ourselves: batteries feed power back when it is scarce, shifted consumption lowers grid fees, and the fleet trades on the intraday market, where prices move in real time. Fully automated. And we pass the value of that flexibility through to the household.
Why this matters now
In Germany, the feed-in tariff that carried residential solar for two decades is being phased out over the coming years with the reform of the Renewable Energy Sources Act. What replaces it is not settled at the time of writing, and the question sits in front of every installer and every household. Our answer is the virtual power plant: instead of a fixed payment for exported power, the flexibility is traded in real time. A regulatory headwind becomes a tailwind, and a step towards installations that stand on their own without a subsidy behind them.
For installation businesses this is not bad news. The business case rests first of all on self-consumption, not on the subsidy rate. That is exactly where the control layer in the home and the virtual power plant do their work. The fixed payment for the exported remainder falls away, and the value of the flexibility takes its place. That part is ours to run, for the benefit of the homeowner.
What comes next
With the additional $100 million, more than $1.3 billion in financing capacity now stands behind us, to fund the financing our partners and their customers depend on and to take that risk off our partners. It is underpinned by a $350 million guarantee from the European Investment Fund.
We are not finished. Energy independence for a billion people is a global goal, and most of it is still ahead of us.
The full press release, 1 September 2026
Cloover reaches profitability at $350M run-rate as it launches AI-native neo-utility
Profitable at a run rate of $350 million, and with more than $1.3 billion in financing capacity behind it, Cloover is extending from finance and software to energy to become an AI-native neo-utility while opening offices in the UK, France and Poland. By pooling its financed systems into a virtual power plant, Cloover turns the connected home into the most strategic asset in the energy system, and one of the largest infrastructure opportunities of the coming decade.
Profitable three years after launch, at a revenue run rate of more than $350 million.
Added a further $100 million in financing capacity, taking the total to more than $1.3 billion, backed by a $350 million European Investment Fund guarantee.
Operating across Europe, with three new offices opening in the UK, France and Poland.
Around 20,000 installations a year, delivered by independent regional installers.
Cloover is now pooling its installed systems into a virtual power plant, the foundation of an AI-native neo-utility.
Berlin, 1st September 2026
Cloover, the AI-native energy platform for residential solar, heat pumps and home electrification, has turned profitable three years after launch, at a revenue run rate of more than $350 million. Profitability at this scale is uncommon among fast-growing energy companies, most of which still put growth ahead of margins.
The company has also secured a new $100 million facility, taking its total financing capacity to more than $1.3 billion. It is underpinned by a $350 million guarantee from the European Investment Fund and pays for energy equipment and installations across Cloover's markets, which will soon include the UK, France and Poland.
Behind the numbers is a different way of selling energy hardware. For decades, upgrading a home meant tens of thousands of euros upfront, with financing, hardware, paperwork and the energy contract all sitting in different hands. That kept most households out of the market. Cloover built the alternative on AI from end to end.
Backing the installers who serve most of the market
Founded in 2023 by Jodok Betschart, Peder Broms and Valentin Gönczy, Cloover began with the bottleneck in the energy transition: distribution. Rather than building a sales force of its own, Cloover built an AI-native operating system for the independent installers who serve around 85% of the market. The installers keep their name, their customers and their choice of hardware, and sell everything from solar and heat pumps to energy-efficient renovations, with financing embedded at the point of sale. Cloover supplies the financing, the software and now the energy products, and end customers get a decision in under two minutes, pay nothing upfront and can spread the cost over up to 25 years.
Three years in, Cloover is one of the top three residential energy players in Europe's largest energy market, and every one of its projects was sold by an independent installer. It serves clients in five European markets. Around 20,000 installations a year run through its installer partnerships, and Cloover grows only as they do.
"We reach households through the installers they already trust, and then we turn each of those homes into a power plant, and each homeowner into a participant in the energy market," said Jodok Betschart, co-founder of Cloover. "That is a relationship that lasts for decades, not a single transaction."
Turning every home into a virtual power plant
Cloover's next step is on the energy side. Once a system is installed, Cloover helps the household make the most of it. Through Cloover Energy, a home energy management system runs the house, dynamic and fixed tariffs cover the supply, and a virtual power plant aggregates distributed solar, batteries, heat pumps and EV chargers into a single tradeable pool of flexibility.
That combination is an AI-native neo-utility. A conventional supplier owns power stations, buys and resells power, and competes on price at the next comparison. A neo-utility owns no generation at all. Its capacity is the installed base itself, and its product is what that base can do for the grid.
Cloover's models forecast generation and consumption house by house and schedule storage and flexible loads inside the limits each household sets, so a battery charges when power is cheap and a heat pump runs when it costs least, without anyone in the house noticing.
Pooled across thousands of homes, that flexibility earns money in several ways. The same batteries feed power back when it is scarce. Shifting consumption lowers grid fees. And the fleet trades on the intraday market, where prices move in real-time. Power market processes are fully automated. Installers offer the virtual power plant to their customers under their own name, and Cloover carries the complexity in the background.
"Everything we do runs on AI, from the underwriting to the way we optimize energy in each home," said Valentin Gönczy, co-founder of Cloover. "The incumbents are adding AI to systems built decades ago. We can do in seconds what takes them days, and the gap widens as we scale."
Energy: the most strategic resource of the decade
Cloover is scaling into a structural surge in demand. Global electricity consumption is forecast to grow by around 3.6% a year through 2030 as transport, heating, industry and AI data centres electrify, while grids struggle to keep pace and prices have stayed elevated and volatile since the latest energy crisis.
In that world, the home stops being a passive consumer. A connected home that generates, stores and trades its own energy is a hedge against rising prices and a productive asset, and the company that manages that at scale holds one of the strongest positions in energy.
The broader outlook
Regulation across Europe is moving the same way. The feed-in tariffs and net-metering schemes that carried residential solar for two decades are being phased out or restructured across the continent, in several markets as soon as 2027. What replaces them now sits in front of every installer and every household in Europe.
Cloover's argument is that a virtual power plant is the answer. Instead of a fixed payment for exported power, a household earns from the value of its flexibility, traded in real time. That turns a regulatory headwind into a tailwind for the industry, and it is a step towards installations that stand on their own without a subsidy behind them.
"The hardware for the energy transition already works," said Peder Broms, co-founder of Cloover. "What has been missing is a company that makes it affordable, reaches people through the installer they know, and turns their homes into a real energy business. That is the neo-utility we are building."
About Cloover
Cloover is the AI-native energy platform for residential solar, heat pumps and home electrification. Founded in Berlin in 2023 by Jodok Betschart, Peder Broms and Valentin Gönczy, the company supplies independent installation businesses with financing, software and energy products, and reaches households through the installers they already trust. The systems financed through the platform are pooled into a virtual power plant, making Cloover an AI-native neo-utility. The company is profitable and runs around 20,000 installations a year across Europe, with more than $1.3 billion in financing capacity underpinned by a guarantee from the European Investment Fund.
Notes to the editor
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