Energy supplier British Gas has led a £7 million investment into telecoms and data centre efficiency company 4energy.
Contributions from British Gas, the Environmental Technologies Fund, Carbon Trust and Catapult Venture Managers has seen 4energy secure the capital it needs kick-start its global roll-out.
The £7 million investment sees the participating backers take a minority stake in the business which produces products aimed at reducing the requirements for electronic data centre and telecommunications equipment.
British Gas will now allow its data centre and ICT customers to use 4energy’s services to reduce energy costs through analysis of thermal footprints and adjustments to air-flows and temperature gradients.
The cash secured will be used to build out its operations in Europe, China, India, Africa and North America.
Pat Tindale, 4energy CEO, comments, ‘We will be able to offer enhanced energy saving solutions to more customers with British Gas’ strong support.
‘They have an excellent proposition for their UK corporate customers, and we believe we can enhance that immediately.’
Tindale also says that British Gas’ involvement will give Nottingham-headquartered 4energy ‘increased credibility’ outside of the UK.
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Sitting alongside British Gas as investors are The Carbon Trust, an independent company which advises businesses, governments and the public sector on growing the low carbon economy. Catapult Venture Managers has some £80 million under management and makes investments of up to £2 million.
British Gas managing director Phil Bentley adds, ‘British Gas is pleased to support another innovative UK business operating in a key sector for energy efficiency.
‘Data centre and telecoms energy usage is increasing rapidly, and this investment will enable us to help our customers to manage their energy more efficiently.
British Gas’ other investment activity has seen the organisation take part in a funding round which saw energy management company AlertMe raise £15 million.