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Ombu Group makes additional GBP5m investment in Energi

Ombu Group, a new UK investment company focused on backing and building UK technology companies, has invested a further GBP5m into Open Energi.



This increases Ombu’s total commitment of growth capital into the company to GBP9m and will enable Open Energi to expand its business in the UK and overseas.
 
Open Energi is a provider of energy demand management solutions. It works closely with energy users to unlock new revenues through a smart approach to managing their energy loads.

The company’s solution includes Open Dynamic Demand, an energy demand management solution that reacts instantaneously to second-by-second changes in the balance between supply and demand on the electricity grid and contributes to keeping the grid in balance. It makes subtle adjustments to the demand for electricity by automatically altering the timing of an appliance’s electrical consumption. 

Stephen Brooke, chief executive of Ombu Group, says: “Open Energi has tremendous potential having developed the market-leading energy demand management solution that has now created new revenue streams for a number of customers across a range of sectors.  Ombu has worked very closely with Open Energi since we first invested last year in partnership with a new and dynamic leadership team, driving transformation in the business with the development of a new strategy, a new brand, and a new approach to the market.  We are committed to providing the capital and management support Open Energi needs to succeed and grow.”
 
David Stevenson, chief executive of Open Energi, says: “We now have a growing customer base of energy users who are generating new revenues through adopting our solution.  The relationship with Ombu has been integral to our success.  We have found a partner who is not only funding us but is also helping us develop as a business and has already provided an invaluable amount of expert guidance and advice. Demand for our technology and product will continue to increase. We look forward to building on recent progress and growing in partnership with Ombu.”

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