JAPAN/GERMANY: Panasonic is to investment €30m in Tado, the Munich-based manufacturer of domestic thermostats and air conditioning controls.
The investment follows last year’s announcement that Tado’s smart solution with specifically tailored management software would be included with Panasonic’s Aquarea heat pumps.
This allowed customers to benefit from the Tado’s ability to automatically shift electricity demand to times when renewable energy was available and prices are lower. In addition the Heat Pump Optimizer X automatically adjusts to changing outside temperatures to improve the COP and to adjust the heating curve. Customers with a PV system can also benefit from self-optimisation algorithms to make best use of self-produced electricity.
Prior to this latest investment, Tado had raised over €200m since its foundation in 2011.
