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31.3.2008: Meldung: Scottish and Southern Energy £1million investment
cottish and Southern Energy plc ("SSE") has agreed to invest £1million in Onzo Limited ("Onzo"), in return for a 24.5% share of the business. SSE’s investment partner, Sigma Capital Group plc*, will also invest £1million for an equivalent 24.5% share.
Onzo is a newly established data systems development business, with specific intellectual property relating to the development of display devices that support smart metering systems. The devices provide real-time information about energy consumption and have the potential to provide data down to the individual appliance level.
SSE has also placed initial orders worth over £7million with Onzo for the company’s energy display products and specialist data services. As part of this order, SSE has secured exclusive rights to Onzo’s products and services covering the UK and Ireland.
David Gardner, Head of Ventures at SSE, said: "Energy customers have a growing expectation that their supplier will provide new ways to help them reduce their energy consumption, and in the future this could become an important service differentiator. This partnership with Onzo will give SSE access to leading-edge technologies that will help us provide a new level of support to customers who want to reduce their energy consumption.
"Until now the SSE ventures team have focused on investments relating to alternative energy sources. This deal, which is a great example of our partnership with Sigma, demonstrates that SSE is prepared to invest in any strong proposition that directly supports our strategic aim of ensuring that SSE plays a major part in the long-term transformation of the production and consumption of energy."
Joel Hagan Chief Executive of Onzo, said: "Onzo is delighted to be working with SSE to make our products and services available to consumers in the UK and Ireland. In SSE, we found a partner who was excited about the full range of what we can offer. Sigma Capital Group helped bring the deal together and their support has been critical throughout the process. This deal is recognition that Onzo leads the way in this arena."
* Sigma Capital Group will invest in Onzo Ltd through the Sigma Sustainable Energy Fund ll - in which SSE has a 22% stake.
Contact:
Scottish and Southern Energy
Inveralmond House
200 Dunkeld Road
Perth PH1 3AQ
T. +44 (0)1738 455 252
E: [email protected]
Onzo is a newly established data systems development business, with specific intellectual property relating to the development of display devices that support smart metering systems. The devices provide real-time information about energy consumption and have the potential to provide data down to the individual appliance level.
SSE has also placed initial orders worth over £7million with Onzo for the company’s energy display products and specialist data services. As part of this order, SSE has secured exclusive rights to Onzo’s products and services covering the UK and Ireland.
David Gardner, Head of Ventures at SSE, said: "Energy customers have a growing expectation that their supplier will provide new ways to help them reduce their energy consumption, and in the future this could become an important service differentiator. This partnership with Onzo will give SSE access to leading-edge technologies that will help us provide a new level of support to customers who want to reduce their energy consumption.
"Until now the SSE ventures team have focused on investments relating to alternative energy sources. This deal, which is a great example of our partnership with Sigma, demonstrates that SSE is prepared to invest in any strong proposition that directly supports our strategic aim of ensuring that SSE plays a major part in the long-term transformation of the production and consumption of energy."
Joel Hagan Chief Executive of Onzo, said: "Onzo is delighted to be working with SSE to make our products and services available to consumers in the UK and Ireland. In SSE, we found a partner who was excited about the full range of what we can offer. Sigma Capital Group helped bring the deal together and their support has been critical throughout the process. This deal is recognition that Onzo leads the way in this arena."
* Sigma Capital Group will invest in Onzo Ltd through the Sigma Sustainable Energy Fund ll - in which SSE has a 22% stake.
Contact:
Scottish and Southern Energy
Inveralmond House
200 Dunkeld Road
Perth PH1 3AQ
T. +44 (0)1738 455 252
E: [email protected]