Energy bills have risen significantly, with U.S. electricity prices outpacing inflation and UK households facing higher costs despite recent price reductions. Mixergy, a leading tech company specialising in smart hot water storage and home energy solutions, has developed technology that can reduce hot water bills by up to 60%.
The company has secured a £12 million funding round led by Barclays Climate Ventures, with continued support from existing shareholders Oxford Science Enterprises, Kiko Ventures (IP Group), Nesta, and EDP Ventures. This investment brings Mixergy’s total funding to $34.8M, with the current valuation undisclosed.
The funding will enable Mixergy to pivot toward a technology licensing and strategic partnership model, focusing on new builds, social housing retrofits, and commercial properties. The company will expand its R&D capabilities to enhance its hardware and software solutions, meeting the evolving needs of social housing providers, property developers, energy utilities, and HVAC OEMs.
Pete Armstrong, CEO and co-founder of Mixergy, added: “This investment accelerates our ability to develop scalable solutions for our technology partners, helping them navigate the changing global energy landscape. With Barclays’ support, we can bring our technology into more homes and buildings in the UK through a broader range of channels while improving the grid’s capacity to integrate renewable energy. Why pay windfarms to shut down when we can pay households to switch on?”
Driving the future of home heating solutions
Mixergy was founded in 2014 by Dr Pete Armstrong and Ren Kang, who developed their innovative hot water tank technology while pursuing their Ph. D.s at Oxford University. The company aims to make home heating more efficient, sustainable, and cost-effective—a mission strengthened by their commitment to reducing carbon emissions and supporting the UK’s net-zero targets.
Mixergy’s smart hot water tanks optimise energy use, reduce waste, and add flexibility to the energy grid, enabling better integration of renewable energy sources. During periods of abundant renewable power, these tanks store energy to ease grid pressure during peak times, supporting clean energy adoption and reducing fossil fuel dependence.
The company is transforming the hot water tank market with its smart, grid-connected storage solutions, which lower energy costs while supporting renewable energy integration and contribute to a more sustainable energy system.
Mixergy has secured backing from leading companies including IP Group, Oxford Science Innovation, Centrica Innovations, and Foresight Williams. Their partnership with British Gas has introduced innovative energy solutions like Mixergy eXtra, which rewards users for supporting the grid.
For over a decade, Mixergy has pioneered smart hot water solutions and grid optimisation. As the UK moves toward full electrification, hot water cylinders will become essential in every home, reducing energy consumption and enabling greater renewable energy integration.
Behind Mixergy: Transforming homes with smart water heating solutions
Mixergy develops sustainable technology that optimises how homes interact with the power grid, reducing carbon emissions while cutting costs and maximising comfort. Their smart technology turns each water tank into a connected energy storage device, balancing grid demands and lowering household emissions. This innovation helps new buildings, social housing, and commercial properties reduce costs, create healthier environments, and achieve carbon reduction targets.
Using an innovative top-down heating approach, Mixergy’s tanks heat only the water needed, cutting hot water bills by up to 40% and reducing carbon emissions. The cylinders act as smart energy storage units — storing cheap energy for later use and creating a distributed battery network nationwide.
The company’s award-winning technology has set new construction and social housing standards. Their integrated hot water heat pump has earned exceptional regulatory approval, while their smart hot water cylinder provides future-proof solutions that work with any heat source. These innovations have been integrated into the UK government’s new Home Energy Model.
The Mixergy App provides 24/7 control, employing machine learning to help users track and optimise their hot water consumption. Their cylinders help balance grid pressure during peak demand by storing energy when renewable power is abundant.
James Ferrier, Director, Barclays Climate Ventures, concluded: “Mixergy is simultaneously addressing two challenges to the UK’s energy transition, improving both grid capacity and building energy efficiency. This is a great example of the truly innovative technologies we are seeking to invest in, and we look forward to supporting Mixergy through this next phase of its growth.”
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