Sustainable Bridges is delighted to congratulate resident venture Green Running on their recent investment from Ignite Social Enterprise Fund. The significant investment of £750,000 will now enable Green Running to take on the residential market.
Founded in 2009, Green Running provide energy monitoring and management tools to help businesses view and manage energy consumption and cost. The systems are based on the principle that, only equipped with the right information can businesses understand their own consumption patterns and identify where cost-savings can be made. Expertise in load disaggregation allows Green Running to not only profile a site’s entire consumption profile, but also narrow down on which items within the site are contributing most to an organisation’s energy bulls. Effectively, the information Green Running provides clients can help them compare the operating costs of different appliances. Equally, Green Running’s energy monitoring devices and analysis can facilitate an organisation’s ability to implement informed behavioural change campaigns amongst employees. With its instantaneous, second by second cause and effect viewing platform, Green Running’s systems have been proven to give the significant reward in terms of cost saving and usage reduction.
Ignite Social Enterprise (“Ignite”) invest people and money into emerging and mature organisations that have a clear vision of how they benefit society. By focusing on energy, Ignite aims to drive innovation at every point of the energy chain – from sourcing and generation through to supply, service and saving energy. By focusing on social enterprises, Ignite seeks to make a positive impact on employment, income, housing and local communities with the investment it provides. With previous investments including E-Car, Ignite also provides selected organisations with mentors and networking to ensure the organisations fulfil their potential.
Ignite has backing from Centrica, who are providing funding of £10 million over the next ten years, and will make investments in the UK of between £50k and £2m. Central to Ignite’s investment criteria is the ability of selected to make a real positive social impact in the UK.
Already well established in the commercial market, Green Running has provided their energy monitoring system to the likes of the Crowne Plaza Group, Jaguar Land Rover and Scottish Power Energy Networks. This new investment will enable the company to focus now on the domestic market, with a full launch anticipated in early 2016. This funding will be used to cherry pick the remaining technical personnel, strengthen the management team and add significant members to the board.
Peter Davies, Chief Technology Officer at Green Running commented: “This investment puts us in the position to build the perfect team in order to take our product to the next level of scale required for the release into the domestic market. ”
Amanda Williams, Investment Manager at Ignite, affirmed: “We firmly believe that energy entrepreneurs have a vital role to play in building a better society. We were excited by the potential of Green Running’s products to enable people in their homes to understand their energy consumption in a simple, cost-effective way. Their vision to help families make savings and lower their carbon footprint strongly aligns with our overarching goal to make a positive social impact on employment, incomes, housing and local communities.”
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