A Battery storage owner and operator firm based in London is the beneficiary of a combined £25 million investment. The equity injection deal also includes an option for the investors to increase their investment by a further £10 million.
The financial boost comes from two major power Japanese power companies, the Tokyo Electric Power Company (TEPCO) and JERA. The latter is an equal joint venture the Fuel and Power division of TEPCO and the Chubu Electric Power Company.
Zenobe Energy Attract More Investment
While a major a financial boost, the latest big money investment is not the only one Zenobe Energy has received. The energy storage firm has actually received over £45 million of investment funds over the last eighteen months. That figure does not include the latest injection from Japan, nor the £30 million of non-recourse senior debt facilities.
Zenobe Energy aim to transform how businesses use power through the ‘intelligent use of energy storage’. Their chairman, Steve Holliday, is the former head of National Grid, a British multinational electricity and gas utility company.
The company says the latest investment will enable them to expand its battery offerings. The firm says they will now be able to offer them to commercial electric vehicle operators in the UK. The investment will also aid the development of various other new services. Zenobe intend them to counter what it believes to be an increasingly hostile environment for battery storage in the UK.
Helping Businesses Reduce Energy Costs
The co-founder of Zenobe Energy, Nicholas Beatty, was understandably effusive in his praise of the Japanese investors. Mr Beatty said, “We consider JERA and TEPCO PG to be two of the most significant strategic investors in the power sector. They bring unique commercial and technical capabilities to Zenobe as well as unrivalled access to a global supply chain.
Mr Beatty was also keen to promote the ideals that drive the Zenobe Energy business model. He continued, “This investment reinforces Zenobe’s reputation as an innovator in the energy market. Together, we will help energy intensive businesses use power intelligently to reduce costs, improve resilience and minimise environmental impact.”
Battery Storage Technology
Despite what Zenobe Energy believe to be an ‘increasingly hostile environment for battery storage’, such technology is on the rise. There are many energy storage systems which save energy in a battery instead of feeding it back to the grid. This means businesses and households who generate renewable energy via solar panels (for example) can use all of it themselves. The storage facility means the energy can be used as and when needed, not only when it is being generated.
The technology is advancing rapidly and there are already range of energy storage battery types and sizes available. Caplor design and install energy storage systems using lithium, lead acid or aqueous hybrid ion (salt water) batteries.
If you are interested in making use of a energy storage system to maximise your renewable energy efficiency, then email Caplor Energy or call 01432 860644.