http://www.newenergyworldnetwork.com/investor-news/renewable-energy-news/by-technology/energy-efficiency/uks-ombu-group-invests-further-5m-in-energy-management-group-open-energi.html

 

UK investment firm Ombu Group has committed a further £5m ($8m) into energy management company Open Energi to aid its national and international expansion.

 

This growth capital will increase Ombu's total commitment to £9m and will enable Open Energi to grow in UK and overseas.

The company's technology, Open Dynamic Demand, aims to work with energy users to unlock revenues through a smart approach to managing their energy loads.

Stephen Brooke, CEO of Ombu Group said, '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, CEO of Open Energi, added, '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.'