Aggreko invests in Origami Energy
11 April 2018
Temporary power provider Aggreko has announced it has acquired a 14% share in Origami Energy, a UK software platform developer.
The company, which was founded in 2013, uses smart technology to tackle key issues facing the energy industry, resulting from the shift towards decentralisation, decarbonisation, and digitalisation. It serves utilities, traders, network operators, energy providers and consumers.
Aggreko said the investment would help its strategy to lower the total cost of energy for its customers while maintaining reliable power supply. Aggreko has worked with Origami Energy for over a year, and the company added the investment would boost its capabilities which were complementary to those brought into the group through the acquisition of Younicos in 2017, and ensured that the evolving needs of grid connected customers were well served.
Dan Ibbetson, managing director of Aggreko’s Global Solutions, said, “This investment provides excellent new opportunities to both Aggreko and our customers. Energy markets are changing and investments like this make sure we are well-positioned to take advantage of these changes, now and in the future.
“Our global reach and diverse customer base, matched with the innovative capability of Origami Energy, will provide both businesses with significant growth opportunities.”
Meanwhile, Peter Bance, CEO of Origami Energy, added, “We are excited to have Aggreko as a new investor. The global scale and additional funding provided by Aggreko will help accelerate the growth of Origami Energy, in the UK and internationally.
“Furthermore, our recent partnership announcements with SmartestEnergy and Good Energy demonstrate that innovative energy market players realise the value in using our intelligent technology to improve profitability across energy markets.”