Myenergi, a smart home energy technology manufacturer based in Grimsby, has secured a £30 million investment to support its future growth and expansion efforts. The funding, provided by global investment firm Energy Impact Partners (EIP), is in addition to the £30 million debt finance secured by myenergi from HSBC earlier this year. Founded in 2016 by Lee Sutton and Jordan Brompton, myenergi aims to promote the adoption of renewable energy products by removing barriers to entry.
Recognized as one of the country’s top 30 fastest-growing private companies, myenergi enjoys an average annual growth rate of more than 125% over the last three years. The company specializes in eco-smart home energy technologies, including the market-leading zappi electric vehicle charge point, the eddi power diverter, and the libbi smart home battery. EIP invests in companies that are developing solutions to advance the energy transition and combat climate change.
Under the equity investment agreement, EIP’s Nazo Moosa, managing partner, EIP Europe, will join myenergi’s board alongside former Tesco CEO Sir Terry Leahy and former Dyson COO Peter Richardson. Moosa stated that transportation is responsible for almost a quarter of global energy-related CO2, primarily from road transport. Supporting companies like myenergi that target the largest sources of greenhouse gas emissions is crucial in the fight against climate change.
Sutton commented on the investment, stating that myenergi is thrilled to have found an investor that aligns with its mission. Through EIP’s extensive support, myenergi plans to expand the products and services offered within its home energy ecosystem, making its solutions available to more consumers around the world. The investment will also be used to develop new products and improve customer support. Brompton added that myenergi’s eco-smart products empower consumers to transition away from fossil fuels to clean, green, renewable energy easily and conveniently.
Overall, myenergi’s partnership with EIP will help elevate its position as a leading provider of home energy management solutions, expanding its reach while enabling consumers to become more energy independent and reduce their environmental impact.