Home energy technology company Wondrwall has signed a £100 million finance deal aimed at spreading its management platform into thousands of UK residences.
Its alliance announced today with financiers InfraRed Capital Partners opens the way, the six-year old technology provider believes, to supercharge its growth within the new build housing market.
Volume homebuilders including Redrow, Taylor Wimpey and CALA are trialling Wonderwall’s home energy system (HEMS). It is designed to identify the optimum time to buy energy from, and sell energy back, to the grid for an overall net-zero energy home aim and the potential to deliver negative energy bills.
Use of its AI-enhanced energy technology has seen negative bills delivered already over summer months. Given the non-technical addition of altered occupant behaviour, the technologists believe the package’s carbon saving potential towards Net Zero goes much further.
The provider claims that, if a home was built to current Future Homes Standard (FHS) requirements, and equipped with home-scale renewables, Wondrwall’s technology automatically pushes it beyond FHS requirements. Wondrwall allows lower carbon emissions, lower energy bills and lower energy consumption with no incremental operational cost.
Today’s partnership supports the provider’s ambition to unlock an initial investment programme of over £100m. Also on Wonderwall’s destination board is a goal of expanding growth of its footprint to over 100,000 net-zero energy homes in the UK and overseas.
Forty new jobs and the appointment of a new commercial director have been enabled by the deal.
Daniel Burton, Wondrwall’s CEO and founder said: “This is a landmark moment. It will help us accelerate towards our ambition of making intelligent net zero living accessible to all. InfraRed is an exceptional partner for Wondrwall and the investment underlines the importance of our technology in helping to reduce energy consumption of homes and help the UK in transition to net-zero.
“Put simply, Wondrwall creates the most intelligent homes in Britain“.
Energy infrastructure and consumption specialists InfraRed Capital Partners manage an international portfolio of around $14bn equity assets.
Stephane Kofman, its partner in charge of capital gain funds, added : “Wondrwall is a company that stands at the forefront of the energy transition. This partnership demonstrates our ongoing commitment to invest in infrastructure solutions that both support sustainable futures and address the current cost of living crisis.”