Greentech Advises OVO Group on its Growth Equity Financing from Mitsubishi Corporation
February 14, 2019
The OVO Group (“OVO”) is the UK’s largest independent energy technology company and supplier. OVO serves 1.5 million customers with intelligent energy services, including retail electric and gas supply, heating insurance, electric vehicle charging and other intelligent energy solutions for consumer and enterprise customers. OVO is disrupting the incumbent retail electricity market by bringing innovative software and automation to bear to enhance the customer experience, reduce costs, and enable the integration of intelligent networks of distributed energy assets. Founded in 2009 by Stephen Fitzpatrick, OVO is redesigning the energy experience to deliver on their mission of clean affordable energy for everyone.
- OVO to take on investment from Mitsubishi Corporation, in exchange for a 20% minority stake
- The investment will accelerate OVO’s international expansion across Asia and Europe, and the development of its distributed energy technology and services platform
- The transaction provides Mitsubishi Corporation with a diversified presence across the renewable energy value chain, from energy equipment manufacturing, to upstream renewable energy generation, T&D, energy trading, and now downstream retail energy supply and services
The transaction press release can be found at:
Greentech acted as exclusive financial advisor to OVO Group. The transaction further strengthens Greentech’s leading advisory position in energy technology and services.