British Greentech Firm myenergi Secures £30 Million Investment for International Expansion

UK greentech myenergi secures £30m investment from Energy Impact Partners to fuel international expansion. The company offers innovative eco-smart home energy solutions, including electric vehicle charge points, power diverters, and smart home batteries, with significant growth in recent years.

British Greentech Firm myenergi Secures £30 Million Investment for International Expansion
Image: myenergi

London, UK - 11 October, 2023: British smart home energy technology manufacturer myenergi has announced a significant milestone in its mission to drive the adoption of renewable energy solutions. The company has successfully secured a £30 million equity investment from Energy Impact Partners (EIP), a global investment firm dedicated to shaping the future of energy and climate solutions. This comes shortly after myenergi's £30 million debt financing from HSBC earlier this year, further fueling its ambitious expansion plans.

myenergi, founded in 2016 by Lee Sutton and Jordan Brompton, is committed to overcoming the barriers to a greener future. The company's vision encompasses addressing technological, behavioral, and financial challenges that hinder the rapid adoption of smart energy products, ultimately making the transition to renewable energy more accessible to all.

In recent years, myenergi has solidified its position as one of the UK's top 30 fastest-growing private companies, boasting an impressive average annual growth rate exceeding 125% over the past three years. The company specializes in the manufacture of innovative "eco-smart" home energy technologies, which include the market-leading zappi electric vehicle charge point compatible with solar panels, the eddi power diverter, and the libbi smart home battery.

Energy Impact Partners (EIP) focuses on investing in the energy transition by supporting visionary companies that are shaping the future of energy and climate. EIP is known for its commitment to backing mission-driven, high-impact tech firms in the UK and Europe, aligning with myenergi's goals of promoting cleaner and more sustainable energy sources.

As part of this equity investment, Nazo Moosa, Managing Partner of EIP Europe, will join the myenergi board alongside renowned figures in the business world, including Sir Terry Leahy, former CEO of Tesco, and Peter Richardson, former COO of Dyson.

Nazo Moosa, Managing Partner at EIP Europe, emphasized the environmental impact of the investment, stating, "Transportation is responsible for nearly a quarter of the global energy-related CO2 emissions, and road transport makes up the lion's share of it. EIP targets the largest sources of greenhouse gas emissions. We are proud to back Lee and Jordan, who have built a truly unique company in the climate sector that is both growing rapidly and is profitable. Zappi is already one of the leading charger brands in the UK and Ireland, and with the success of its libbi energy storage product, we believe myenergi is in pole position to become the leading Home Energy Management provider."

Lee Sutton, co-founder of myenergi, expressed his delight in finding an investor in EIP who truly understands the company's purpose, mission, vision, and values. He explained that the investment would enable myenergi to expand its product and service offerings within the home energy ecosystem, making sustainable solutions available to an even broader global audience. Lee Sutton added, "We are delighted to have found an investor in EIP that truly understands our purpose, mission, vision, and values. With the team’s extensive support, we will be able to further expand the products and services offered within our home energy ecosystem, making our solutions available to even more consumers worldwide."

Jordan Brompton, co-founder of myenergi, highlighted the importance of providing consumers with convenient ways to transition to clean, green, renewable energy as we move towards a net-zero future. She noted that EIP's investment would help bring eco-smart products to more households, empowering customers to monitor, manage, and maximize their home energy while reducing emissions and streamlining energy bills. Jordan Brompton added, "As we transition to a net zero future, it’s vital for consumers to be given easy and convenient ways to make the shift away from fossil fuels towards clean, green, renewable energy. We are really excited by the investment from EIP, which will help to bring our eco-smart products into more households, enabling our customers to monitor, manage, and maximize their home energy, as well as reducing their emissions, streamlining their energy bills, and ultimately empowering them to become more energy independent."

In her announcement of the investment on LinkedIn, Jordan Brompton, expressed her gratitude for the achievement and the support received from all stakeholders. The achievement is especially significant in the context of recent challenges faced by the energy industry, serving as a testament to the industry's resilience and its vital role in the UK economy.

Jefferies, a leading global full-service investment banking and capital markets firm, played a crucial role as the sole financial advisor to myenergi in this transformative equity investment.

With this substantial investment from Energy Impact Partners, myenergi is poised to play a pivotal role in accelerating the global shift towards sustainable energy solutions and making green technology more accessible to a wider audience. The future of clean, renewable energy in the home is becoming increasingly promising, thanks to innovative companies like myenergi and their dedicated partners.