Member Article

US tech firm invest £5m in UK operation

A billion dollar US technology infrastructure provider is investing £5m in Suffolk based Navetas Energy Management.

The deal will see Sensus acquire a 15% stake in Navetas, and an exclusive licence agreement for Navetas technology in the United States market.

Navetas plan to use the investment to make further advances in its patented energy disaggregation technology and integrate this into the next generation smart meters produced by Sensus for the US market, due to launch in 2013.

Chris Saunders, CEO of Navetas Energy Management, comments: “The pace of change in the global energy market is rapid and this investment will allow Navetas to develop internationally, specifically in the US, and to deliver new and innovative technologies that will address the emerging market dynamics.

“The investment from a big, global player such as Sensus is testament to the value our technology and intellectual property brings to the energy market.”

Navetas have raised £7m in previous funding rounds from Swarraton Partners, Naxos Capital and the University of Oxford to transform a concept from the University of Oxford into an intelligent technology that can monitor, from a single point, energy consumption across appliances in the home.

Matt Zafuto, Vice President, Corporate Strategy and Business Development, Sensus, comments: “The global energy and water utility markets are constantly looking at the future value to be gained through applications that ride on smart utility networks.

“Our investment in Navetas will enable Sensus to leverage energy management applications that deliver information and added-value consumption data to our customers in the US and beyond.”

This was posted in Bdaily's Members' News section by Tom Keighley .