Zouk and Scottish and Southern Energy join forces to build an energy efficiency solutions company, Anesco
Clean technology investor Zouk Ventures (“Zouk”) is pleased to announce that it is partnering with UK power utility Scottish and Southern Energy (“SSE”) to build an energy efficiency and micro-generation solutions company in the UK named Anesco (“the company”). Zouk and SSE will be co-lead investors in the deal and will each take a Board seat in the company. Zouk and SSE believe that Anesco will be well placed to exploit the strong regulatory and governmental support that exists in the UK for the shift to a low carbon, energy-secure economy. Initiatives such as the Clean Energy Cash Back, Renewable Heat Incentive and the recently announced Green Deal have created an enormous opportunity for specialists in this sector.
Anesco will support the UK’s shift towards a low carbon economy by providing energy efficiency and micro-generation solutions to domestic and commercial customers. These solutions will cover a broad range of technologies and areas, including solar power, renewable heating, insulation, as well as other energy efficiency measures, including lighting and building energy management systems. In addition, Anesco will also provide energy services to businesses, including energy efficiency consultancy and a range of ongoing energy monitoring solutions.
The company will bring with it elements of SSE’s existing renewables and contracting business and will be managed by an experienced and proven management team, recruited from within SSE. Adrian Pike and Tim Payne will take up the positions of CEO and COO respectively. Building on its current position, the company will leverage zouk’s network and access to technology providers as well as SSE’s eminent green implementation track record to rapidly grow the business and gain a dominant position in the energy efficiency market in the UK.
Alistair Philips-David, Board Director at of SSE, said:
“SSE is committed to making a sizeable contribution to the UK’s national goals of reducing carbon footprint through increased use of renewable energy and energy efficiency technologies. We are delighted that zouk, who we view as a leading investor in the clean technologies space, will be partnering with SSE to build Anesco. We hope the partnership will allow us to bring the latest technologies and best solutions to our customers. We are confident that the combination of a strong management team and the close support of both zouk and SSE, Anesco can move quickly to become a market leader in the fast-growing energy efficiency sector.”
Samer Salty, CEO of zouk and board member of Anesco, commented:
“Everyone at zouk is delighted to be partnering with SSE in this exciting company. Commercial and domestic demand for energy efficiency solutions will increase dramatically over the coming years, creating a market in the billions per year from the strong support by the UK government and regulators. We are proud to partner with such an established player and this deal is a true recognition of our leadership and expertise in cleantech. Anesco, with its highly experienced team and clear early mover advantage in a market with a huge potential, gives us confidence that we can generate a very attractive return for our investors.”