Mixergy, a leading tech company in smart hot water storage and home energy solutions, has successfully closed a £12 million funding round, led by Barclays Climate Ventures. This investment reflects the demand for Mixergy’s game-changing technology—which is helping homes today save up to 60% on their hot water bills.* The round also saw continued backing from existing shareholders Oxford Sciences Enterprises, Kiko Ventures (IP Group), Nesta, and EDP Ventures.
This funding will drive Mixergy’s transition towards a technology licensing and strategic partnership model, focusing on new builds, social housing retrofits, and commercial properties. The company will expand its R&D capabilities to further enhance hardware and software solutions that cater to the evolving needs of social housing providers, property developers, energy utilities, and HVAC OEMs.
For over a decade, Mixergy has been at the forefront of smart hot water solutions and grid optimisation. As the UK moves towards full electrification, every home will need a hot water cylinder, which reduces energy consumption while enabling more renewables to be connected to the grid.
Mixergy intelligently heats the water for the home, reducing the energy consumption and lowering bills. These same cylinders act as smart energy storage devices, balancing supply and demand by storing cheap energy and using it when needed, like a huge distributed battery for the nation.
Its award-winning technology has also set industry benchmarks in both new builds and social housing. Notably, Mixergy’s integrated hot water heat pump, which achieves unsurpassed levels of regulatory endorsement and its smart hot water cylinder for new builds and social housing retrofits. These are future proof solutions that work with any heat source. Mixergy’s innovations have also been embedded in the UK government’s new Home Energy Model.
Mixergy is moving to the next phase of growth, marked by the appointment of David Tuohy as their new Executive Chair and new strategic partnerships that highlight their expanding presence in the market. Notable collaborations include Daikin, Birmingham City Council and British Gas who offer homeowners a rebate for using their Mixergy cylinder through their one of a kind Mixergy Extra bolt-on energy offer.
Barclays, renowned for its role in supporting UK social housing, new build, and commercial sectors, has played a critical part in this funding round.
James Ferrier, Director, Barclays Climate Ventures, said: “Mixergy are simultaneously addressing two challenges to the UK’s energy transition, improving both grid capacity and the energy efficiency of buildings. This is a great example of the truly innovative technologies which we are seeking to invest in, and we look forward to supporting Mixergy through this next phase of their growth.”
Pete Armstrong, CEO and co-founder of Mixergy, added: “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 capacity to integrate renewable energy. Why pay windfarms to shut down when we can pay households to switch on?”
*Figure calculated on real-world Mixergy customers saving on their hot water using machine learning paired with the Octopus Agile smart tariff in 2024.
Mixergy are Industrial Associates of CIPHE, to see the full list of Industrial Associates check out the directory HERE