Complex sentence: In 1826 he received the Academy Award for a portrait of the New Palace in Potsdam, and used the money to travel to Italy in 1827, where he was one of the founders of the Roman Kunstverein.
Split into simpler sentences: In 1826 he received the Academy Award for the portrait of the New Palace in Potsdam and could do with the money to travel to Italy. Here he was one of the founders of the Roman Kunstverein.