The global energy crisis has thrown lives and businesses into disarray, underscoring the pressing need to support pioneering energy startups committed to driving positive change. Among these innovators is the UK-based company myenergi, a trailblazing smart home energy technology manufacturer that has gained widespread recognition for its groundbreaking product - Zappi, the world's first solar-compatible electric vehicle (EV) charger.
In recent developments, myenergi has secured a substantial £30 million investment from Energy Impact Partners (EIP), a New York-based venture capital firm deeply committed to energy solutions. This funding follows myenergi's earlier achievement of £30 million in debt finance from HSBC earlier this year.
This influx of capital positions myenergi to expand its horizons and further its global reach in the pursuit of a cleaner and more sustainable energy landscape.
Founded in 2016 by Lee Sutton and Jordan Brompton, myenergi embarked on a mission to pave the way for a more sustainable future. The company specializes in developing a range of innovative, eco-friendly home energy technologies, including the revolutionary solar-compatible Zappi electric vehicle charge point, the Eddi power diverter, and the Libbi smart home battery.
What sets Zappi apart is its ability to harness 100% renewable energy. Through continuous monitoring of self-generated power, the charger intelligently directs available renewable energy for EV charging. Myenergi's expertise extends to empowering consumers to oversee, manage, and optimize their personal renewable energy generation, enabling intelligent and efficient energy use.
The company's Libbi product serves as the keystone of an integrated home energy ecosystem, empowering consumers to tailor their energy management to their specific needs.
With this new investment, Nazo Moosa from EIP will join the company's board, alongside notable figures such as Sir Terry Leahy, former CEO of Tesco, and Peter Richardson, former COO of Dyson. Moosa's guidance will play a pivotal role as myenergi charts its path to becoming a leading home energy management provider.
Nazo Moosa, Managing Partner at EIP, affirmed their support for myenergi and its unique position in the climate sector, poised for rapid growth and profitability. The success of the Zappi charger and the Libbi energy storage product have propelled myenergi to the forefront of the UK and Irish charger market, positioning the company to lead the way in home energy management.
Myenergi's co-founder, Lee, expressed delight in finding an investor who comprehends the company's mission and values. With EIP's support, myenergi aims to expand its range of home energy ecosystem products, making these solutions accessible to a wider global audience. The investment will drive next-generation product development, including grid services like demand-side response, facilitating customers in transitioning toward clean, green, and renewable energy.
Co-founder Jordan reiterated the importance of empowering consumers to shift from fossil fuels to clean, renewable energy. The EIP investment enables myenergi to bring its eco-smart products to more households, providing consumers with the tools to monitor, manage, and maximize their home energy use. This, in turn, helps reduce emissions, streamline energy bills, and fosters energy independence, aligning with the vision of a net-zero future. Jordan Brompton's dedication to promoting clean energy and consumer empowerment has been a driving force behind myenergi's success and its positive impact on the journey toward a sustainable energy landscape.