The funding round will support the company transition to a technology licensing model and expand research capabilities.
"This investment accelerates our ability to develop scalable solutions for our technology partners, helping them navigate the changing global energy landscape. With Barclays’ support, we can bring our technology into more homes and buildings in the UK through a broader range of channels while improving the grid’s capacity to integrate renewable energy. Why pay windfarms to shut down when we can pay households to switch on?"
Northern Gritstone led the funding round, which will support the commercialisation of the company's carbon removal technology.
"There has never been a more critical time to take action – decisive action – against climate change than right now. This investment brings us one step closer to realising our mission of mitigating climate change by allowing our team to focus on scaling our technology. From our first meeting with Duncan and his team, we knew that our priorities and values are very much aligned so we’re very pleased to welcome Northern Gritstone as an investor. With their expertise in backing visionary companies in the North of England, I see a very bright future ahead of us."
The Oxford spinout secured £9.2m from new and existing backers to scale its smart hot water technology.
"Mixergy is launching a new integrated heat pump cylinder in the Spring, which uses our top-down heating technology, with a small heat pump attached to the cylinder. It will heat water 10x faster than conventional integrated heat pump cylinders (usable hot water in under 30 min), and connect to the grid."
The company has raised capital from international strategic and financial partners to accelerate its expansion across multiple industries.
"This landmark investment from world-class investors is a tremendous validation of our strategy to apply self-driving technology where there is persistent and urgent demand—in supply chains, industrial sectors, and in decongesting our cities."