Top 10 in Tech: London's most valuable Energy startups
Continuing our Top 10 in Tech series of London’s most valuable startups, this week, we’re looking at the world of energy and seeing which London-born energy startups are the highest valued.
Utilising Tech Nation's Data Commons service, Prolific London has taken a look at the most valuable London-based startups in this area founded in the last 10 years.
The top 10 shows that, it doesn't matter if you're providing, storing, reducing, or saving energy, as a company, you just need to be providing a good service for customers or consumers to do well.
Let's see who made it into the Top 10…
Bulb is the UK’s biggest green energy supplier and provides customers with 100% renewable electricity from solar, wind and hydro. Their gas is 100% carbon neutral - 10% is green gas produced from renewable sources like food or farm waste and the company offsets the rest of the gas they supply by supporting carbon reduction projects around the world.
It was named as one of Europe’s fastest growing startups with its valuation growing 351 times.
Value: £315 million
BBOXX designs, manufactures and distributes solar power systems. Their pioneering management platform, called BBOXX Pulse, continuously collects data and insights, enabling the company to provide services to previously unreachable populations. -
They are now operating in 12 countries, including Rwanda, Kenya, Togo, DRC and Pakistan. In August 2019, Japan’s Mitsubishi invested $50 million into the company.
Value: $200 million - $300 million
3. Moixa Technology
Moixa is the UK’s leading smart battery company. They develop Smart Battery hardware and GridShare software to facilitate smart energy storage and sharing. Users can install a Solar and Battery system, or add it to their existing solar panels so they can reduce energy bills, reduce their carbon footprint and save the sun’s energy for when they need it.
Users can use tailored insights to help track their energy and make further savings.
Value: $44 million - $67 million
4. POD Point
POD Point Ltd provides electronic vehicle charging stations. The Company offers charging stations for the public sector or private companies who wish to own their own charge points.
They have 2,000 public charging bays across the UK and users can use the app to find and charge their vehicles at locations such as Lidl and Sainsbury’s.
Value: £29 million - £43 million
5. Econic Technologies
Instead of creating energy, this science-heavy startup develops catalyst technologies that significantly reduce the energy required to make everyday plastics. Econic turn CO2 from the atmosphere into polymers that are used in creating plastics. The new polymers can contain up to 50% by weight of CO2.
Value: £28 million - £42 million
The Verv home system is an intelligent IoT hub which uses patented AI technology to analyse electricity data and appliance usage in the home straight from the mains, unlocking unique insights and creating new smart home experiences for consumers.
This information, coupled with personalised insights, can enable users to reduce electricity use, minimise their carbon footprint and bring down bills.
Value: £26 million - £39 million
Set up to help make boiler installations for efficient, Hometree most recently raised £1.9 million in 2017. They say the boiler market is worth £4 billion but has remained largely offline.
They now provide home care plans that promise a simple and transparent service with no price hikes. They now also offer landlord-specific boiler care plans, central heating care plans and home care plans.
Value: $34 million - $51 million
8. Tempus Energy
This company connects customers with the cheapest available energy using AI and smart algorithms to control and optimise when flexible assets use energy.
By predicting volatility in carbon intensity and market prices, Tempus Energy allows customers to reduce their energy costs - while simultaneously enhancing their use of renewables. Besides their HQ in London, they also now have offices in Australia, Sweden and Germany.
Value: £15 million - £23 million
BuffaloGrid believes it is laying the foundations for a future where everyone is connected. The company uses solar-powered technology to make phone charging and internet services available to all.
In December 2018, they secured a total of £3.4 million in a funding round, with a £1.6 million grant from the European Commission’s Horizon 2020 programme, and opened an office in India.
Value: £14 million - £20 million
By embracing technology, machine learning algorithms and human trading ability, Limejump delivers renewable resources where demand requires electricity, in sub-second speed.
Limejump’s Virtual Power Platform is an aggregation of flexible energy generation and storage assets of different sizes and technology types. They aim to deliver 100% renewable energy at all times to customers through the direct real-time connectivity between renewable energy sources, batteries and demand response.
Value: £12 million - £18 million