Wattstor, one of the UK’s leading home energy storage companies and janom, a European private equity company, have signed an investment deal to further develop Wattstor’s energy storage management capability.
Last year, the team at janom were researching the best available home energy storage products in Europe, when they discovered Wattstor – a pioneering energy storage company based in Cornwall. Their research told them that the Wattstor systems were the best value (£/kWh of battery capacity) on the market for the richest functionality delivered (backup power, multi generator and battery compatibility). But it was the IMP that Daniel Smigura – janom’s MD, was really excited about:
The IMP, which stands for Intelligent Management of Power is likened by Mark Smith (Technical Director at Wattstor) – to the conductor of an orchestra: bringing in loads (electrical and thermal) and turning them down again to smooth out demand and supply profiles. With janom’s financing and extensive experience in renewable energy systems, electromobility and IT, the two parties see the opportunity to further develop the IMP to be the brains of every residential and commercial system that they sell.
Daniel Smigura said “It’s fantastic to find a company with the same vision of the future energy system, and to share such ideas under one roof. The cooperation goes beyond just financial: we are joining our R&D capabilities to bring new solutions to market more quickly. Those solutions will be consumer focused, scalable, functionally rich and future proof.’’
‘’We will integrate the opportunities we see with Wattstor with our other innovative projects in e-mobility, distribution grid solutions, and nanotechnology.”
Sophie Orme, Wattstor’s Sales Director said:
“This investment from janom will allow us to further develop our growing UK market share and opens up exciting opportunities across Europe and beyond. janom is already supporting us in significant scale bids to export our ‘assembled in Cornwall’ products. With janom helping us to accelerate our product development, we aim to become the market leading technology company in the energy storage and renewables sector.”
Trevor Howard – Wattstor MD said:
“Wattstor have been looking for the right commercial partner over the last 18 months, and we firmly believe that in janom, we have found the ideal partner who shares in the same ethos and vision as Wattstor, so we know that there will be exciting times ahead.”
Wattstor was founded in Cornwall in 2013 to develop, supply and install energy storage and control systems for homeowners and businesses. The need for such solutions is paramount in Cornwall – an area blessed with natural resources and rich in renewables, but with a constrained electric grid, off gas properties and high levels of fuel poverty. A Wattstor system allows customers to take back control of their energy usage and bills. By banking surplus clean energy generation in the day, for use through the night or when it’s cloudy – customers can save up to 90% on their energy bills. During a power outage, the system also allows a solar PV array or wind turbine to keep generating, and appliances or critical business systems to keep running. Wattstor is located at Penryn Campus, where the company enjoys strong links with Exeter & Falmouth University, where scientists have substantiated Wattstor’s performance claims. Since the first Wattstor systems were installed in 2013, the company has helped shape technical guidance and safety standards in the UK.
janom is a private equity investment company, based in Slovakia, targeting long term investments in innovative projects addressing sustainability, renewable energy resources and the IT sector. janom is active in Slovakia, Czech Republic, Finland, Belgium, Netherlands,
Austria, Germany, USA and Canada, and has strong links with technological universities in the Czech Republic and Slovakia. janom is an official sponsor of Quick-Step Floors Cycling Team.
janom installed a 10 kWh Wattstor Lithium ion storage system with full backup circuit earlier this year, to work in tandem with 11kWp of solar PV already installed on the roof of their facility.