Otovo AS

09/02/2021 | Press release | Distributed by Public on 09/01/2021 23:30

Christian Rahn new General Manager for Otovo in Germany

On September 1st Christian Rahn (48) joined Otovo as General Manager for Germany. Rahn comes onboard Otovo from the same role at BlaBlaCar, a leading global mobility platform, and has previously been General Manager at travel site lastminute.com and consumer finance platform Zmarta Group. He joins Otovo on its mission to put solar panels and batteries in every home in Europe. 'I put solar panels on my own house 10 years ago. Today, prices for new solar panels are less than a third of what they were then, while energy prices have more than doubled. All Germans are going to realise the potential of solar and batteries now, and I am very excited to enable the German people to cut their energy bills in half with Otovo's affordable and green solar energy,' says Rahn. 'Christian brings exceptional experience in market building as we enter Germany. He knows how to scale, how to recruit and how to grow new concepts in this market', says Otovo CEO, Andreas Thorsheim. He joins at a time where the price of German power is more than three times as expensive as last summer, now peaking above 100 euros per megawatt, and about double what the average price has been in the last decade. By installing a solar installation, the average German household can expect EUR 25,000-35,000 in savings over 20 years, as a result of a reduced electricity bill and selling surplus electricity back to the grid. 'Otovo will enter the German market with batteries, so we can help homeowners reduce their energy bills to a minimum. Leasing of solar panels will also be a key part of our offering, as it will enable homeowners to go solar, without upfront investment. In total, we will help drive Germany's energy transition from coal to renewable, while improving people's purchasing power,' says Rahn. With the addition of Rahn and the German market, Otovo is now present in seven European countries, counting Sweden, Norway, France, Spain, Poland, Italy, and Germany. Berlin will be the location for Otovo's German team and the service will launch before the end of 2021. 'We plan to recruit heavily in September. Marketing, sales, operations, and installer account management - we're filling up with talent across the board,' says Rahn. *** About the German solar market: • EUR ~2 billion per year market, with 65% growth from 2019-2020 • ~150.000 yearly residential solar installations (~8x Spain, 100x Norway) at an average cost of EUR 9-10k • More than 50% of installations include batteries • The penetration of solar energy in homes is about 7% (Netherlands >25%, Hawaii >30%) • Enduring supporting energy policies for home solar & batteries *** About Christian Rahn (48) • GM Otovo Germany 2021- • GM BlablaCar Germany 2019-2021 • CEO Zmarta Germany 2015-17 • GM Lastminute.com 2011-15 • Business Management education from Wolfgang Goethe University *** About Otovo: For homeowners, Otovo is the easiest way to get solar panels on the roof. Otovo is a marketplace that organizes hundreds of local, high-quality, and qualified energy installers. The company uses its proprietary technology to analyze the potential of any home and finds the best price and installer for customers based on an automatic bidding process between available installers. Follow us on investor.otovo.com for reports, financial calendar, contact details, and more.