Theben Smart Energy

What Theben Smart Energy does

Theben Smart Energy GmbH is a Haigerloch-based German vendor of smart-metering infrastructure, legally incorporated in 2023 as a spin-off of Theben AG's smart energy business unit. The company builds BSI-certified Smart Meter Gateways (CONEXA 3.0, CONEXA M) and FNN-conformant control boxes (SELEXA series) for the German rollout framework, together with a Network Management System (theSI) that handles certificate and key management plus rollout services (smartOPTIMO). Core customers are metering operators (MSBs), municipal utilities, and grid operators in Germany (DACH), including named users such as metrify (10,000-unit iMsys deployment), Horizon Energy Deutschland, Stadtwerke Witten, Stadtwerke Bocholt, EWS Schönau, and RheinEnergie.

The underlying technology emphasizes certified security: Common Criteria EAL 4+ certified gateways (TR-03109-resistant architecture with separate µSD-Karte for security credentials, hardware-RNG-based TLS, and segmented IP interfaces), EEBUS-based interoperability with 30+ HEMS manufacturers, and certified interfaces with all major CLS backends (VOLTARIS, EVO, Robotron, Sagemcom Dr. Neuhaus, Power Plus). Manufacturing takes place in-house at the Theben campus in Madertal, with a multi-million-euro capacity expansion completed in late 2023. The company participates in BMWK-funded research consortia (FlexMC with 50Hertz/decarbon1ze, MeGA, AiM, eMpowerSYS, SkIES) covering flexibility markets, controllable generation, heat-pump integration, and energy sharing.

Commercial economics combine hardware unit sales (gateways and control boxes) with software/SaaS-style NMS subscriptions and supply chain services such as smartOPTIMO. Go-to-market is direct B2B through dedicated regional sales managers across Germany supported by the Theben AG field sales organization. Pricing is contract-specific: SMGWs are sold per device at B2B prices that vary with volume and configuration, while SELEXA control boxes deliver a separate revenue stream tied to §14a EnWG flexibility deployments. Revenue is not publicly disclosed, and headcount is reported in the 1-10 range, with the parent Theben AG providing operational backstopping.

Name

Theben Smart Energy

Legal name

Theben Smart Energy GmbH

Website

https://theben-se.de

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

Theben Smart Energy GmbH is a Haigerloch-based vendor of BSI-certified Smart Meter Gateways (CONEXA) and FNN control boxes (SELEXA) for German metering operators, grid operators, and utilities, including metrify, Horizon Energy Deutschland, and several Stadtwerke.

Ownership category

akta.pro rank

Product category

Smart Metering Hardware and Energy Management

NAICS

Instrument Manufacturing for Measuring and Testing Electricity and Electrical Signals (334515)

SIC

Instruments For Meas & Testing Of Electricity & Elec Signals (3825), Switchgear & Switchboard Apparatus (3613)

akta.pro primary industry

AMI Smart Meters (Electric) & Meter Hardware (EUADAFAA)

akta.pro secondary industries

Standards, Interoperability & Certification (DLMS/COSEM, ANSI C12, IEEE 2030.5) (EUADAFAO), Smart Electrical Panel, Energy Monitoring & Load Management (HSAOANAE)

Keywords

• Smart meter gateways
• Energy management systems
• FNN control boxes
• Smart metering infrastructure
• CLS controllable systems

Headquarters

HQ city

Haigerloch

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Smart Meter Gateway Sales: Sale of CONEXA and CONEXA M Smart Meter Gateways to Metering Operators (MSB) and their service providers. Hardware is sold through direct B2B sales relationships.
2. Control Box Sales: Sale of SELEXA and SELEXA D FNN-compliant control boxes for controlling flexible loads and generation facilities.
3. Network Management System: Software-as-a-Service offering for SMGW monitoring and management, provided through partnership with SPiNE.
4. Secure Supply Chain Services: theSI secure delivery and logistics services for SMGW hardware distribution.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Theben Smart Energy GmbH develops and manufactures BSI-certified Smart Meter Gateways (CONEXA 3.0, CONEXA M) and FNN-compliant control boxes (SELEXA, SELEXA R, SELEXA D) sold primarily to German metering operators (Messstellenbetreiber), municipal utilities and energy service providers for intelligent metering rollout under the MsbG. The product ecosystem also includes the Mehrwertmodul Flex plug-in control module, the cloud-based Netzwerkmanagementsystem (NMS) for SMGW monitoring, and theSI secure supply chain services.

Product overview

Theben Smart Energy provides a modular Smart Meter Gateway ecosystem centered on the CONEXA platform for Germany's intelligent metering infrastructure (iMSys). The core product line includes CONEXA 3.0 and CONEXA M (with integrated value-added module), supplemented by SELEXA/SELEXA D/SELEXA R control boxes for FNN-compliant plant control, and the Mehrwertmodul Flex for direct gateway-based control. Supporting infrastructure includes the Netzwerkmanagementsystem (NMS) for device monitoring and theSI for secure supply chain management. The company also offers training, technical support, and a customer portal for Messstellenbetreiber (metering point operators).

Differentiator

Problem solved

Functional benefit

Brands

• CONEXA: Smart Meter Gateway platform providing secure communication for the digital energy transition, supporting tariff application cases and remote control functionality.
• CONEXA M
• SELEXA
• SELEXA D
• theSI

Quantifiable outcome

• Up to 80% self-consumption increase for prosumers with energybase.Conexa solution
• +3 more outcomes

Named customers12 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration29 records

Feature6 records

Partnerships

19 partnerships are on record, tiered core, major and minor.

• VIVAVIScoreStrategic or Co-development Partner · 20 November 2025Joint development of BSZ-certified FNN control box SELEXA. The SELEXA D and STBF24C represent the only BSZ-certified FNN control box on the market. VIVAVIS handles backend integration while Theben provides the hardware.
• smartOPTIMOcoreImplementation/ SI/ Consulting Partner · 5 August 2025Service provider for utilities conducting pilot deployment of NMS with Stadtwerke Witten and Bocholt. smartOPTIMO integrates Theben SMGWs and SPiNE NMS into their service offerings for municipal utilities.
• Horizon Energy Deutschland GmbHmajorChannel Partner/ Reseller/ Distributor · 7 July 2025First MAP (Modellkonfiguration Add-on Produkte) framework contract signed for SMGW supply. Horizon Energy Deutschland as competitive metering operator.
• SPiNE GmbHcoreTechnology or Integration · 6 February 2025Development and operation partnership for Network Management System (NMS) for Smart Meter Gateways. SPiNE developed the cloud-based NMS platform integrated with Theben CONEXA 3.0 gateways. The system enables monitoring of connection quality and signal strength for metering operators.
• 50HertzcoreStrategic or Co-development Partner · 25 February 2022Transmission network operator partner in FlexMC research project (BMWK funded) for optimizing control of micro-flexibilities from heat pumps, EVs, and solar storage via intelligent metering systems.
• decarbon1zecoreStrategic or Co-development Partner · 25 February 2022Building automation startup partner in FlexMC research project for micro-flexibility optimization via SMGW.
• metrifymajorChannel Partner/ Reseller/ DistributorDeployed 10,000 iMsys with Theben Smart Energy's digital control solution in collaboration with partners Heinz Lackmann.
• Heinz LackmannmajorChannel Partner/ Reseller/ DistributorPartner in large-scale deployment of 10,000 iMsys with metrify and Theben Smart Energy.
• advaljucoreChannel Partner/ Reseller/ DistributorCLS service provider for metering operators. Listed on CLS backend interoperability list with CONEXA M, SELEXA R, and SELEXA D.
• BTC AGcoreTechnology or IntegrationBackend system provider (including service provider Gwadriga). CONEXA M compatible from Release 4.12, SELEXA R and D compatible from Release 4.12.
• RobotroncoreTechnology or IntegrationBackend system provider (including service providers Auxilius, Thüga & Voltaris). SELEXA R and SELEXA D compatible.
• Vaillant GroupcoreTechnology or IntegrationMajor HEMS/heat pump manufacturer with extensive EEBUS device portfolio including aroTherm Plus, aroTHERM split/plus, recoCOMPACT, GeniaAir Mono/Split, versoTHERM, myVAILLANT Connect, sensoNET, VR920, MiGo Link, sensoCOMFORT, multiMATIC, MiPro Sense, eloBLOCK - all compatible with CONEXA M and SELEXA.
• HagercoreStrategic or Co-development PartnerJoint partner in Smart Metering Summit and product integration. Flow and witty solar HEMS products compatible with CONEXA M and SELEXA.
• Osthessen NetzminorChannel Partner/ Reseller/ DistributorGrid operator piloting system for dimming connection capacity with CLS service provider advalju.
• AiM ConsortiumminorStrategic or Co-development PartnerR&D project for Smart Meter Gateway development based on BMWK/BSI standardization roadmap. Partners include BTC and hausheld.
• eMpowerSYS ConsortiumminorStrategic or Co-development PartnerR&D project for value-added platform with app store using SMGW as secure communication anchor. Partners include EnBW, hausheld, Hochschule Albstadt-Sigmaringen, co.met, THU, and EEinfratec.
• MeGA ConsortiumminorStrategic or Co-development PartnerR&D project starting October 2023 for SMGW deployment in context of large generation facilities > 100kW and their control. Partners include EnBW, hausheld, Hochschule Albstadt-Sigmaringen, co.met, THU, and EEinfratec.
• FlexMC ConsortiumcoreStrategic or Co-development PartnerBMWK-funded project starting January 2022 for 3 years. Focus on micro-flexibility control, billing, and documentation via SMGW. Partners include decarbon1ze and 50Hertz.
• SkIES ConsortiumminorStrategic or Co-development PartnerFfE-funded project for scalable Energy Sharing integration. Working on technical and economic implementation of § 42c EnWG Energy Sharing framework.

Scale indicators5 records

Recent moves9 records

Expansion highlights7 records

Broad incumbents

• Itron: Global smart metering and energy data management company serving utilities worldwide. Itron is a broad incumbent competitor delivering end-to-end AMI/AMM solutions into the European utility market alongside Theben's narrower German-focused product.
• Kamstrup: Danish manufacturer of smart metering solutions for electricity, heat, water, and gas. Kamstrup supplies European utilities with metering endpoints and communication infrastructure that overlap with Theben's electricity-focused SMGW business.
• Landis+Gyr: Global leader in smart metering and grid management solutions headquartered in Switzerland. Landis+Gyr serves the German AMI market with metering endpoints and head-end systems, providing broader-portfolio alternatives to Theben's SMGW-only offering.
• Sagemcom: French-headquartered supplier of smart meters, gateways, and energy management solutions across Europe. Sagemcom holds BSI-certified SMGW products and competes with Theben in the German certified-gateway category as a larger multi-national incumbent.
• E.ON Metering (E.ON Drive & Metering): Metering operator arm of E.ON, one of Germany's largest energy companies and active competitive MSB. E.ON's scale as both customer and infrastructure provider overlaps with Theben's MSB target segment.

Direct peers

• Discovergy GmbH: German digital energy services company providing certified smart metering solutions and meter operator services. Discovergy serves the same MSB/customer base as Theben Smart Energy with competing metering infrastructure offerings.
• PPC AG: German manufacturer of BSI-certified Smart Meter Gateways and broadband-powerline communication systems. PPC is one of the few certified SMGW suppliers in Germany and competes directly with CONEXA for German MSB framework contracts.
• EMH metering GmbH & Co. KG: German manufacturer of smart electricity meters and BSI-certified Smart Meter Gateways. EMH is a direct SMGW competitor to Theben Smart Energy, serving German utilities and metering operators with comparable certified products.

Others

• Robotron Datenbank-Software GmbH: German software provider of metering data management and CLS backend systems used by MSBs. Robotron is also a CLSEXTA backend integration partner for Theben — adjacent/ecosystem peer rather than head-to-head competitor.
• VIVAVIS AG: German provider of grid management, CLS backend, and control-box solutions that joint-developed SELEXA with Theben Smart Energy. VIVAVIS is both a partner and an adjacent competitor in the FNN-Steuerbox ecosystem.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCuL7g8Xmjxf2T9L4JxKLq4w
• LinkedInlinkedin.com/company/theben-se
• Instagraminstagram.com/theben_smartenergy

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Theben Smart Energy