Mixergy Secures £9.2 Million for Energy Innovations
Mixergy, an innovative provider of home energy management technologies based in Cassington, UK, has successfully raised an impressive £9.2 million in funding. This significant investment round was spearheaded by EDP Ventures and Nesta, both of which are well-known players in the venture capital landscape. They were joined by a variety of other investors, including Oxford Science Enterprises, Kiko Ventures, Foresight WAE Technology, and Centrica. The influx of capital will empower Mixergy to take substantial steps forward in its quest to revolutionize the way energy is managed and utilized in residential settings.
The primary objectives for Mixergy, under the leadership of CEO Peter Armstrong, involve establishing a dedicated research and development center at its headquarters in Oxfordshire.
This facility will focus on further advancing the company’s cutting-edge technology, especially in the realms of hot water heating, heat pumps, and comprehensive home energy management systems. The funds will also facilitate Mixergy’s ambitious plans for international expansion, with Portugal being the initial target. By deploying their innovative approaches to energy management, they aim to not only enhance the efficiency of household energy use but also to contribute positively to global environmental efforts.
At the core of Mixergy's offerings are smart and connected hot water tanks that leverage a patented technology based on thermal stratification. This technology allows households to heat only the necessary amount of water, ultimately leading to significant cost savings and a reduction in environmental impact. In addition to the widespread deployment of these smart hot water tanks in the UK and beyond, Mixergy is establishing a decentralized digital network of tanks across the grid. This network is designed to provide much-needed flexibility to the energy grid while supporting the transition to cleaner energy sources. With these advancements, Mixergy is positioning itself as a leader in the renewable energy sector, promoting a sustainable future for the home energy landscape.
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