R
eneo, a Hamburg-based residential real estate technology platform, has secured €600m in funding to improve the energy efficiency of Germany's existing housing stock. The investment will be used over the next 24 months to drive the green transition of Germany's housing sector.

    Germany's residential real estate assets have poor energy efficiency, with more than half having an EPC rating of E or lower. Reneo aims to capitalise on this "brown-to-green opportunity" by identifying and realising the ecological and economic potential of these assets. The company's founder, Lennart Börner, sees immense potential in transforming Germany's real estate sector, which is ripe for transformation.

    Reneo has partnered with Peakside Capital to launch an asset management and operating joint venture, deploying approximately €500m in debt and equity to retrofit and enhance the energy efficiency of multi-family buildings. The company will also convert under-utilised spaces into modern living spaces to meet Germany's growing demand for housing.

    Reneo's end-to-end technology platform uses machine learning to identify the best transformation strategy for each asset, achieving up to a 30%-60% reduction in energy consumption and lowering operational costs for asset owners and tenants. Since 2020, Reneo has bought and sold over €500m of assets across its platform, with significant capital planned for deployment over the next 24 months.