OVO Receives Minority Investment from Mitsubishi

ovoOVO, a Bristol, UK-based greentech company, received a minority investment from Mitsubishi Corporation.

With the deal, whose amount was not disclosed, Mitsubishi acquired a 20% stake in the business.

The company intends to use the funds to accelerate its international expansion into new markets across Europe and Asia Pacific and the development of its intelligent energy technologies unit, Kaluza.

Founded by CEO Stephen Fitzpatrick in 2009, OVO is a greentech company which serves 1.5 million customers with intelligent energy services. The company also announced the launch of its new intelligent energy technology division, Kaluza, which develops and manages software and hardware to support the integration of electric vehicles and dynamic battery storage onto the grid.



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