Bildnachweis: BayWa r.e. Energy Ventures, Circadian Technologies.
Circadian’s founders, Mike Rosenberg and Max Boit, share a mission to help telecom tower operators transition to decentralized renewable energy in emerging markets. Their products include hardware controllers and sensors to collect data from power grids, and a SaaS energy optimization platform that brings all the data together.
Imagine a network of telecom towers across Africa, no longer dependent on fossil fuels, but powered by a blend of renewable energy and smart technology. Berlin-based start-up Circadian Technologies is making this dream come true, leading a quiet but powerful revolution in renewable energy. The company has a clear vision: to provide a hardware-based SaaS energy optimization platform for independent power producers and solar developers operating in emerging countries with grid problems, such as Africa. To achieve this, Circadian has developed proprietary hardware controllers that integrate data from on-site energy systems and transform them into complex microgrids. This enables the hardware to provide customers with the highest quality data, effectively reducing operational costs and accelerating the transition to decentralized renewable energy. ‘Our hardware controller and sensors tie all the data together and optimize everything at the site, while our software platform supports the entire value chain’, says Mike Rosenberg, founder and CEO of Circadian, adding: ‘This greatly simplifies the implementation of renewable energy systems in rural Africa.’
Joining forces
Rosenberg and co-founder Max Boit (Circadian’s head of product) met six years ago at a solar energy exhibition in Munich. The duo soon realized that their combined experience in off-grid energy access and deep understanding of the commercial and industrial energy transition in Africa was a great fit for their business plans. ‘We are both passionate about driving the energy transition for commercial and industrial businesses, which are crucial for economic growth in Africa’, says Rosenberg.
EUR 1.25 million investment by BayWa r.e. Energy Ventures
Founded in 2021, Circadian started as a self-funded start-up. In autumn 2023, the duo secured a EUR 1.25 million investment with lead investor BayWa r.e. Energy Ventures, and Rockstart Energy, Persistent Energy, and Rally Cap Climate as additional investors. Circadian connected with its investors through their shared passion for Africa. ‘I first started working in Africa 15 years ago, and we had been talking about the adoption of solar on the continent for a long time. Circadian’s focus on this within the region and their ability to help various players in the solar ecosystem ramp up PV installations made it a very interesting and compelling opportunity for us’, says Greg Zavorotniy, CEO of BayWa r.e. Energy Ventures. The start-up has benefited greatly from its investors’ involvement. ‘BayWa r.e. Energy Ventures has been deeply involved beyond just providing capital. They have facilitated further connections within the European climatetech investor community’, adds Rosenberg.
The vision
Since the investment, Circadian has significantly expanded its team in Nigeria and introduced a new business model, a hardware-enabled SaaS. The team has also doubled its hardware revenue per site. ‘Our profit margins on the core product have increased to 71%’, says Rosenberg, adding: ‘By 2030, we want to manage 100,000 telecom towers and make a significant contribution to global CO2 reduction efforts. Our vision is to be the leading operating system for decentralized energy.’
Diese Case Study wurde von Cigdem Elikci verfasst.
