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Sustainable smart home startup Myenergi raises £30m

Myenergi
Image credit: Myenergi

Myenergi, the Grimsby-based smart home energy startup backed by HSBC, has raised a further £30m in an investment from Energy Impact Partners.

Founded in 2016, Myenergi fits homes with green energy equipment, including a solar-compatible charger for electric vehicles called Zappi, a smart home battery that stores surplus solar electricity called Libbi, and a solar energy diverter called Eddi.

The company was backed by HSBC UK in April, when the Birmingham-headquartered bank invested £30m into Myenergi.

The additional investment from EIP will support the company’s goal of expanding its products and services.

“The investment will help to deliver our next generation of product development and innovation, including our planned growth in grid services – such as demand side response, allowing us to better support our customers in undertaking their own home energy transition,” said Myenergi co-founder Lee Sutton.

“We will also be investing in service excellence to ensure that our customers benefit from the best frontline support.”

EIP is a New York-based investment group that targets companies supporting the transition to clean energy.

“Zappi is already one of the leading charger brands in the UK and Ireland and with the success of its libbi energy storage product, we believe Myenergi is in pole position to become the leading Home Energy Management provider,” said Nazo Moosa, managing partner at EIP.

Myenergi did not disclose its valuation following the investment round.