As energy prices soar, both in the U.S. and UK, households continue to face higher bills despite recent price adjustments. Mixergy, a leader in smart hot water storage and home energy solutions, has developed cutting-edge technology that can cut hot water bills by up to 60%, helping consumers manage rising costs more effectively.
£12M Funding Boost to Expand Smart Energy Solutions
Mixergy has secured a £12 million funding round led by Barclays Climate Ventures, with continued backing from existing investors Oxford Science Enterprises, Kiko Ventures (IP Group), Nesta, and EDP Ventures. This latest investment brings Mixergy’s total funding to $34.8 million, though the company has not disclosed its current valuation.
With this funding, Mixergy plans to shift towards a technology licensing and strategic partnership model, targeting new builds, social housing retrofits, and commercial properties. The company will expand its R&D capabilities to enhance its hardware and software solutions, ensuring they meet the evolving needs of social housing providers, property developers, energy utilities, and HVAC OEMs.
Pete Armstrong, CEO and co-founder of Mixergy, stated:
“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?”
Founded in 2014 by Dr. Pete Armstrong and Ren Kang, Mixergy’s groundbreaking smart hot water tank technology was developed during their Ph.D. research at Oxford University. Their mission is to make home heating more efficient, sustainable, and cost-effective, aligning with the UK’s net-zero carbon goals.
Mixergy’s smart hot water tanks optimize energy use, reduce waste, and enhance grid flexibility, enabling seamless integration of renewable energy sources. These tanks store excess energy when renewable power is abundant, relieving grid pressure during peak demand and supporting a clean energy future.
Their grid-connected storage solutions lower household energy costs, contribute to renewable energy adoption, and promote sustainability across the energy sector.
Strategic Partnerships and Industry Impact
Mixergy has gained backing from major investors, including IP Group, Oxford Science Innovation, Centrica Innovations, and Foresight Williams. Additionally, its partnership with British Gas has led to Mixergy eXtra, an initiative that rewards users for supporting the grid.
For over a decade, Mixergy has been a pioneer in smart hot water solutions and grid optimization. As the UK transitions to full electrification, smart hot water cylinders are set to play a critical role in reducing energy consumption while enabling greater renewable energy integration.
Mixergy is transforming home energy management by developing sustainable technology that optimizes how homes interact with the power grid. Their smart hot water tanks not only lower energy bills but also contribute to reducing carbon emissions while maximizing home comfort.
By using a top-down heating approach, Mixergy’s technology heats only the necessary amount of water, reducing hot water bills by up to 40% and lowering household carbon footprints. These tanks act as smart energy storage units, storing cheap energy for later use, effectively creating a distributed battery network across the UK.
Mixergy’s award-winning technology is setting new standards in home construction and social housing. Their integrated hot water heat pump has received exceptional regulatory approval, while their smart hot water cylinders provide a future-proof solution compatible with any heat source. These innovations have been integrated into the UK government’s Home Energy Model, reinforcing their importance in future housing developments.
The Mixergy App provides users with 24/7 control, utilizing machine learning algorithms to help optimize hot water consumption. The app also enables users to track energy use, contributing to a smarter, more efficient home energy system.
By balancing grid pressure during peak demand, Mixergy’s technology supports a more resilient and sustainable energy grid, ensuring a smoother transition to renewable energy adoption.
Barclays’ Perspective on Mixergy’s Impact
James Ferrier, Director at Barclays Climate Ventures, emphasized Mixergy’s critical role in the energy transition:
“Mixergy is simultaneously addressing two challenges to the UK’s energy transition: improving both grid capacity and building energy efficiency. This is a great example of the truly innovative technologies we are seeking to invest in, and we look forward to supporting Mixergy through this next phase of its growth.”
With rising energy costs and increasing demand for renewable energy integration, Mixergy’s smart hot water storage technology presents a scalable, efficient, and cost-saving solution. As the UK pushes towards full electrification and net-zero goals, Mixergy stands at the forefront of smart energy management, ensuring a sustainable future for homes and businesses alike.
