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Moixa secures £4.6m injection amid rapid growth in Japan

Moixa secures £4.6m injection amid rapid growth in Japan

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Smart energy storage software specialist claims it now manages more than 20,000 residential batteries in Japan

Smart energy storage software specialist Moixa has secured an additional £4.6m injection from its investors as it embarks on further expansion across the UK, Europe, US and Japan, it announced yesterday.

The firm said it would use the investment, which comes from its existing investors led by Japanese conglomerate Itochu Corporation, to help grow adoption of its GridShare smart energy storage platform across these global markets, in addition to supporting a smart electric vehicle charging subscription scheme it plans to launch this summer with Honda.

It also hopes to raise a further £10m when it lauches its series C funding round before the end of the year.

Moixa now manages more than 20,000 home battery storage units in Japan via its GridShare software, up from 10,000 just seven months ago, which it claims amounts to the largest battery fleet of its kind in the world.

Simon Daniel, Moixa’s chief executive, said the company’s rapid expansion in Japan demonstrated “clear demand for smart, scalable solutions for the energy transition”.

“By automatically optimising our homes, electric car charging and energy systems to use the cleanest and cheapest power available, we can create a new energy economy that benefits everyone,” he explained.

Source: businessgreen
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Anand Gupta Editor - EQ Int'l Media Network