eFriends

eFriends is an Austrian energy company that operates a peer-to-peer energy sharing platform, enabling users to buy, sell, and share privately produced renewable energy in real-time. The company's journey began on New Year's Eve 2012, when Matthias Katt, then chairman of the "Energiebündel Weinviertel" association, faced frustration with the bureaucratic process of securing subsidies for community solar projects. This experience sparked the idea for a direct, uncomplicated way to share electricity, leading to the founding of eFriends Energy GmbH in 2015 by Matthias Katt, Klara Dimmel, Fritz Dimmel, and Gerd Bader.

The business serves two primary client types: 'prosumers' (producers and consumers) who own renewable energy sources like photovoltaic systems and want to sell their surplus, and pure consumers, including households in apartments or locations where personal solar installations are not feasible. The platform connects these parties across Austria, allowing them to transact electricity at prices they agree upon themselves via the eFriends app. Revenue is generated through a monthly base fee and a platform usage fee of 1.2 ct/kWh. For any electricity needed when community supply is insufficient, eFriends provides certified green electricity from Austrian producers.

The core of the service is its proprietary technology. Producers install an "eFriends Meter" that measures energy production and consumption in real-time, enabling the precise allocation of every kilowatt-hour shared on the network. A companion app, the "eFriends WATCH+", gives all users a transparent, live overview of available community energy and pricing, empowering them to adjust their consumption patterns accordingly. This model allows for the efficient use of decentralized energy, increases self-sufficiency for the community, and provides stability against energy market fluctuations. After a successful pilot with 100 households in 2018, eFriends officially became an energy provider, growing to over 400 households within a year to become Austria's largest energy community. The company has secured funding through several rounds, including a seed round on the Conda crowdfunding platform in 2020 and a significant venture capital round in January 2024 with investors like Wienerberger, VERBUND X Ventures, Rockstart, and Raiffeisen Ware Austria (RWA).

Keywords: energy sharing, peer-to-peer energy, renewable energy community, prosumer, solar power trading, decentralized energy, smart grid, virtual power plant, cleantech, energy transition, electricity market, sustainable energy, photovoltaic, green electricity, community solar, P2P energy trading, Matthias Katt, energy-as-a-service, Austrian startup, climate tech, energy platform