Energy innovator boosted by over £1m investment
Northern Ireland law firm, Mills Selig has advised PowerOn Technologies on its latest funding investment round.
The Investment round has raised over £1m towards helping the firm, trading as The Electric Storage Company, with its plans to democratise, digitise, decarbonise and decentralise the energy market.
Action Renewables Energy Trading, a leading provider of renewable energy expertise and support for renewable energy development was also instrumental in leading the investment round, which also included Innovate UK and a number of private investors.
The Electric Storage Company’s business model is based on moving customers towards cheaper, smarter, greener energy and recognising the collective power of consumers. It is based on a smart digital system, which allows consumers to make the best choices on how to use their green energy.
Anne Marie McGoldrick, Director and Co- Founder of The Electric Storage Company, said: “We have been delighted with the support that we have had from Action Renewables and others to help bring our vision to fruition. This investment allows us to bring our unique analytical platform (PARIS) to commercial and domestic customers in Northern Ireland and Republic of Ireland.”
Glenn Watterson, Partner at Mills Selig, continued: “The Electric Storage Company revolution continues to build momentum and Mills Selig is delighted to be able to support Anne Marie and Eddie’s hard work. This latest investment round allows The Electric Storage Company to continue to grow and develop further within the energy market – we look forward to working with the entire team to realise this.”
Jonathan Buick, Chief Operating Officer of Action Renewables Energy Trading, added: “This is an exciting time for energy, for generators of green energy and participants in the energy markets. In Action Renewables Energy Trading we focus on renewable energy and energy efficiency, and we continually look for new and innovative ways to improve the quality and standard of renewable energy provision and use.
The Electric Storage Company’s new smart digital system fits perfectly with our vision, mission and objectives.”