Temporary power provider Aggreko has acquired a 14 per cent share of software platform developer, Origami Energy, which uses smart technology to help customers realise the full revenue potential of their energy assets.
Aggreko said the investment is in line with its strategy to reduce the cost of energy for its customers, while maintaining a reliable power supply in a “changing energy market”.
It highlighted the deal “adds capabilities which are complementary” to those brought into the group through its acquisition of Younicos, as part of a £40 million cash deal, in July 2017.
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.”
Peter Bance, chief executive 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 Smartest Energy and Good Energy demonstrate that innovative energy market players realise the value in using our intelligent technology to improve profitability across energy markets.”
Last month, Smartest Energy signed a deal with Origami Energy to use its smart grid platform in a bid to benefit from the demand-side response market.