This investment marks a milestone in the company's global expansion.
The investment of more than £20m recognises the significant increase in value attributed to Energy Drive’s regional expansion and provides significant investment capacity from a major international investor. This reflects the continued expansion of the business into North America and Europe, from its origins in South Africa.
Proprietary Technology Powers Energy Efficiency Innovation
Energy Drive deploys Intelligent motor control via E-Houses, powered by proprietary technology, engineering expertise, and data to optimise the performance of industrial-scale motors. The E-House automatically optimises a motor’s energy usage while meeting all operational and safety requirements, reducing energy consumption of motors by 43% on average. They are installed and operated as-a-service by Energy Drive requiring no capital expenditure or ongoing maintenance cost for the operator, while delivering both operating cost savings and carbon abatement. Today, Energy Drive saves nearly 1 million kg of CO₂, SO₂ and NOₓ emissions annually.
Sustainability Investment Driving Global Industrial Expansion
With the support of The Pears Family and Pears Partnership Capital, Energy Drive will accelerate its international expansion and development in new heavy industry sectors as a trusted service provider, leveraging over a decade of successful delivery with multinational customers.
James Hynd, Chief Executive Officer of Apogee, said: "I am excited to welcome Pears as an investment partner for Energy Drive. We share an ambition and long-term approach, committed to realising this significant growth opportunity.
“Our service reduces energy OpEx of key systems, with no initial capital investment required. We see an increasing demand across the globe for these services, as energy-intensive companies seek to reduce costs and cut emissions.”
Joe Evans, Managing Director at Pears Partnership Capital, added: "We have built a great relationship with the team at Energy Drive and have been very impressed with the business. We are delighted to be able to support Energy Drive in the next stage of its growth and see significant market opportunity globally.”
