6 years ago

Mixergy Secures €4.2 Million to Expand Smart Hot Water Tank Rollout

  • Mixergy, a UK cleantech startup specializing in smart hot water tanks, has raised €4.2 million in a Series A funding round led by Foresight Williams Technology (FWT), Oxford Sciences Innovation, IP Group, and Centrica Innovations

  • The funding will support the national rollout of Mixergy's energy-saving hot water tanks with British Gas, expand commercial demand response services, and further develop the company's vision for an 'Internet of Tanks'

  • Mixergy's technology utilizes machine learning and an app interface to provide an enhanced customer experience, saving up to 20% on hot water bills and delivering hot water up to five times faster

  • The company has also achieved a market first in being the first hot water product certified to deliver grid balancing services to the National Grid, contributing to the transition to renewable energy sources.

      • ProblemTechnology

      "making home water heating more efficient to reduce energy consumption and environmental impact"

      Solution

      "developing smart hot water tanks that use machine learning, enterprise data dashboards, and an app interface to reduce energy consumption by up to 20%, provide up to 30% more usable hot water, and deliver hot water up to five times faster"

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