New leadership duo leads smart energy scale-up gridX into next growth phase

• As of 1 April 2023, the gridX founders, David Balensiefen and Andreas Booke, will hand over the active management of the company to Tim Steinmetz and Tobias Mitter
• Tim Steinmetz, who has already been working at gridX as Chief Growth Officer since mid-2019, becomes the new Managing Director
• Tobias Mitter completes the new leadership duo at gridX as the new Managing Director and Chief Technology Officer

Munich, 14 December 2022 – The Munich-based smart energy company gridX is setting the course for the next stage of growth: the two founders, David Balensiefen and Andreas Booke, will hand over the management baton to a new duo on 1 April 2023 and move into an advisory role. The company management will be taken over by Tim Steinmetz, who has already been Chief Growth Officer at gridX since mid-2019, and Tobias Mitter, who has more than 14 years of experience in various roles at BCG, IBM and E.ON inhouse management consulting. 

Now is the right time to hand over the leadership to managers with many years of experience, Booke explains. gridX is currently in a strong scaling phase and also has great growth ambitions for the future: the company's revenue has more than doubled compared to the previous year, as has the number of employees. The goal is to continue these developments in 2023 and beyond. "With Tim and Tobias, we have found two experienced managers who will use their expertise to successfully lead gridX through the ambitious growth that lies ahead in the coming years," adds Balensiefen. In just under seven years, Balensiefen and Booke have developed gridX from an idea into Europe's leading smart energy company with around 120 employees. 

Steinmetz will take up his position as Managing Director on 1 January 2023, and in this role will remain responsible for sales at gridX. Mitter joins gridX on 1 February as the second new Managing Director, completing the future leadership duo of the Munich-based smart energy company. As Chief Technology Officer, he will be responsible for product development. To ensure a smooth transition in the company’s management, the two leadership duos, Balensiefen/Booke and Steinmetz/Mitter, will work together in close coordination until 1 April. And even after the handover, Balensiefen and Booke will stay connected to gridX in an advisory role.

In connection with the change of management, the minority shares that have remained with the founders Balensiefen and Booke will be transferred to E.ON. E.ON has already been the majority shareholder of gridX since September 2021 and, with this new investment, confirms its confidence in gridX’s digital energy management solutions and the company’s growth targets. Aside from the new shareholder structure, there will be no further changes for gridX, Steinmetz and Mitter emphasize. "In the future, we will continue to work as an independent company and all work with our partners will be business as usual. We are looking forward to initiating the next phase of growth and continuing to drive the energy transition forward," explains Steinmetz.

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About gridX

gridX is Europe's leading smart energy company based in Aachen and Munich. With its IoT platform XENON, gridX enables manufacturer-independent monitoring and management of distributed energy resources. XENON allows partners to develop and scale energy management solutions faster than ever before. By partnering with gridX, Fastned is able to install more charging points at sites without the need for costly grid extensions, and the Viessmann Group is able to offer its customers intelligent and integrated home energy management systems.