Greentech Advises


Greentech Advises OVO Group on its Growth Equity Financing from Mitsubishi Corporation
February 14, 2019

Greentech Capital Advisors is pleased to announce the following transaction:
Exclusive financial advisor on its growth equity financing from

UndisclosedFebruary 2019

CLIENT OVERVIEW

The OVO Group (“OVO”) is the UK’s largest independent energy technology company and supplier. OVO serves 1.5 million customers with intelligent energy services, including retail electric and gas supply, heating insurance, electric vehicle charging and other intelligent energy solutions for consumer and enterprise customers. OVO is disrupting the incumbent retail electricity market by bringing innovative software and automation to bear to enhance the customer experience, reduce costs, and enable the integration of intelligent networks of distributed energy assets.  Founded in 2009 by Stephen Fitzpatrick, OVO is redesigning the energy experience to deliver on their mission of clean affordable energy for everyone.

TRANSACTION OVERVIEW

  • OVO to take on investment from Mitsubishi Corporation, in exchange for a 20% minority stake
  • The investment will accelerate OVO’s international expansion across Asia and Europe, and the development of its distributed energy technology and services platform
  • The transaction provides Mitsubishi Corporation with a diversified presence across the renewable energy value chain, from energy equipment manufacturing, to upstream renewable energy generation, T&D, energy trading, and now downstream retail energy supply and services

The transaction press release can be found at:

Press Release

Greentech acted as exclusive financial advisor to OVO Group. The transaction further strengthens Greentech’s leading advisory position in energy technology and services.

For additional information about this transaction, please contact:

Stephen Megyery
Partner, New York
+1 (212) 946-3949
steve@greentechcapital.com

Alex Stein
Principal, Zurich
+41 (44) 578 39 11
alex@greentechcapital.com

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