Aggreko Announces Investment in Origami Energy Ltd
Aggreko is pleased to announce it has acquired a 14% share in Origami Energy, an intelligent software platform developer that optimises revenue earning capacity of grid connected generation and storage assets.
Founded in 2013, Origami Energy uses cutting edge, smart technology to tackle some of the key issues facing the energy industry today resulting from the shift towards decentralisation, decarbonisation, and digitalisation. Origami Energy’s intelligent solutions help utilities, traders, network operators, energy providers and consumers to realise the full potential of their energy assets. Origami Energy’s technology enables greater use of renewables and increases profitability for energy market participants by optimising the balance between grid demand and supply
The investment will also help Aggreko’s strategy to lower the total cost of energy for its customers while maintaining reliable power supply. Aggreko has worked with Origami Energy for over a year, and this latest deal reflects its approach of investing in strategic partnerships that broaden its range of specialist services which will benefit its customers, particularly as opportunities emerge through changing energy markets. This investment adds capabilities which are complementary to those brought into the Group through the acquisition of Younicos in 2017 and ensures that the evolving needs of grid connected customers are well served.
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.
“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,” said Peter Bance, Chief Executive of Origami Energy. “Furthermore, our recent partnership announcements with SmartestEnergy and Good Energy demonstrate that innovative energy market players realise the value in using our intelligent technology to improve profitability across energy markets.”