A leading provider of residential home energy management systems, Green Energy Options (GEO), has secured £3 million of funding to support the further development of its innovative web services and product portfolio.
Green Energy Options secures £3 million funding
The Cambridge-based firm provides in-home displays, as well as mobile and online services for electricity, water, gas, heat, boilers and microgeneration. GEO’s software and technology platforms are designed to complement its hardware products, enabling consumers to view their home energy data securely via their PCs or smartphones.
The funding round was led by the Low Carbon Innovation Fund (LCIF), a low carbon specialist investment fund managed by specialist energy and environment merchant bank, Turquoise International. Funding partners include Berti Green Accelerator.
Patrick Caiger-Smith, at GEO, comments: “The investment received through the funding round will enable us to further develop our world-leading systems. Working in conjunction with the government’s smart meter roll-out programme, we intend to help consumers get a better understanding of their energy consumption and migrate to an energy efficient home.”
Desmond Astley-Cooper, at Turquoise International, which oversees the LCIF fund, says: “GEO’s innovative smart energy systems give consumers the ability to shape their own energy consumption. Being able to measure energy usage easily will enable consumers in the UK and beyond to manage energy demand, saving money and reducing environmental impact.”
LCIF is a low carbon specialist investment fund which is managed by Turquoise International on behalf of the Low Carbon Group at the University of East Anglia and supported by the European Regional Development Fund (ERDF). It has more than £20m of ERDF funding that will be combined with some £30m of private sector capital to generate more than £50m of low carbon investments.
About Turquoise International
Turquoise International is a merchant bank specialising in energy and the environment. Established in 2002, Turquoise offers in-depth industry knowledge and extensive capital raising, transaction advisory, and investment management expertise and track record.
For capital raising, our advisory clients are predominantly private companies or listed companies seeking funding via private placements across a range of business segments including technology, project development, manufacturing and services.
Turquoise assists clients in raising funds across the capital structure including equity and debt. We source funds for our clients from a diverse range of investors located in Europe and internationally.
Turquoise advises corporate clients and their shareholders on transactions such as mergers, acquisitions, disposals and joint ventures assisting in areas such as strategy, identification of opportunities, valuation and transaction execution.
In fund management, Turquoise provides a range of services to investors, ranging from advice in relation to individual investments to discretionary investment management for a portfolio of investments.
Turquoise invests directly through Turquoise Capital (seed stage proprietary investments) and manages the Low Carbon Innovation Fund.