Funding update July 2023
Cepro raises over £600,000 to further our ambitions to build net zero energy communities across the UK
Today, we are proud to announce that on the back of successfully delivering our first two community microgrids, we have exceeded our £600k fund raise target to further transform domestic energy infrastructure.
The raise was led by James Hall-Smith and Harry Seekings, experienced infrastructure investors and former principals at InfraRed Capital Partners. As part of the investment, both have joined the board as Directors, with James appointed as Chair.
What does this mean?
“Securing significant investment means Cepro is now perfectly poised to help drive the UK’s domestic energy transition from a legacy, top-down grid to a digital, bottom-up network.” says Damon Rand, Co-Founder and Head of Product at Cepro. “The advent of millions of devices operating in a decentralised, interlinked fashion is a transformational shift in the energy sector creating an unparalleled opportunity for new digital approaches to reimagine and revolutionise how we generate, distribute, and consume energy. Cepro is excited to be leading this change”
“The investment will help Cepro to expand its platform and accelerate growth, building on its unique experience of having successfully delivered the UK’s largest domestic microgrid,” says Harry Seekings. James Hall-Smith adds “Cepro is at the vanguard of tackling one of the most difficult aspects of the energy transition in the UK, the decarbonisation of home energy consumption, and the opportunity to make a real difference in this market was too good to miss.”
How will we use the funding?
This seed funding will be used to further our vision of affordable, clean and sustainable energy for every community. Specifically, the seed funding will be used in three areas:
- Unrivalled customer experience. Further developing microgrid technology that fuses innovative design with an intuitive customer interface, turning complex energy systems into user-friendly solutions.
- Mass adoption of new-build community microgrids. Expanding our footprint in the UK’s construction industry with an ambitious lineup of new-build projects, aiming to propel the microgrid concept into mainstream housing.
- Electrifying neighbourhoods. Enabling the integration of advanced microgrid technology into existing homes, making clean, efficient energy accessible to all.
Cepro (www.cepro.co.uk), is a pioneering smart energy business headquartered in Bristol, focusing on the design, development, and implementation of community microgrids to transform domestic energy infrastructure. We are on a mission to empower communities to become self-sufficient, resilient, and sustainable through the deployment of renewables with cutting-edge technology and innovative business models. Having successfully delivered several operational net zero energy projects such as Hazelmead, the largest community microgrid in the UK, and Water Lilies, an innovative 33-home net zero housing development in Bristol, Cepro’s smart microgrid technology is transforming the way new homes are being built.
Founded in 2009, Cepro began as a residential PV rooftop metering and software specialist with a simple idea, to match suitable renewable energy sites with investors seeking to put their money to doing good. In 2015, Cepro pivoted into microgrids and began the design and development of their first demonstrator of the technology with a £700k BEIS heat network award. In 2020 Cepro joined the Energy Systems Catapult Energy Launchpad Incubator. Between 2021 and 2023 Cepro delivered over £1.5million of infrastructure for impact investor Bristol Energy Cooperative.
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