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Low Carbon Innovation Fund 2 (LCIF2) invests in Green Energy Options

Turquoise, the UK merchant bank specialising in energy, environment and efficiency, has announced its eighth deal for the Low Carbon Innovation Fund 2 (LCIF2). The investment in geo is part of a first close of a round co-led by LCIF2 and Schneider Electric Ventures (SEV), with the participation of Consensus Business Group, West Coast Capital and GWD Enterprises.  

Green Energy Options (geo) is at the heart of the home energy revolution. The company, based near Cambridge, UK, designs and manufactures devices that give homeowners better information and control over their electricity, gas and water usage, typically resulting in reduction of wastage, cost and associated greenhouse gases.   

Axel de Mégille, Director at Turquoise, comments: “geo’s positioning at the centre of the home energy management ecosystem makes it a very valuable low-carbon investment proposition.”   

Steve Cunningham, CEO of geo, adds: “We are delighted to add five important new investors to our shareholder base. This investment will enable us to grow the company further and establish geo as the reference home energy management platform in the UK and Europe.”  

LCIF2 is funded by European Regional Development Fund, with the UK Ministry of Housing, Communities and Local Government as the Managing Authority.  

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