The continued support of our existing shareholders and Aggreko’s major investment in our company demonstrates their utmost confidence in our business growth.
This funding round provides Origami Energy with additional capital to continue the delivery of its growth plans and become a strategic technology partner for some of the world’s largest companies. The funds will be used to help accelerate the growth of Origami Energy in the UK and to prepare for international deployment.
Andrew Williamson of Cambridge Innovation Capital commented: “We are pleased to see that Origami Energy continues to meet key targets in commercialising its technology to provide value to energy market participants. We look forward to working with the company during the next phase of its expansion.”
Peter Bance, chief executive of Origami Energy added: “The continued support of our existing shareholders and Aggreko’s major investment in our company demonstrates their utmost confidence in our business growth. Furthermore, our recent partnership announcements with SmartestEnergy and Good Energy demonstrate that innovative energy market players realise the value in using our intelligent technology to improve their profitability by enabling new services.”
Energy flexibility (the ability for generation, storage and demand assets to turn up/down or on/off) is growing in importance globally as the industry embraces the structural changes resulting from decentralisation, decarbonisation and digitisation. By harnessing energy flexibility, Origami Energy’s technology enables greater use of renewables and increases profitability for energy market players including energy suppliers, traders and distributed energy asset owners.