Semplice Energy (United Kingdom) - Nov 2007

unquote
01 November 2007

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In a first round of funding, Bahamas-based venture capital business BIP Fund has invested $1.23m into cleantech energy solutions provider Semplice Energy Ltd, taking a minority stake in the company. The new funding will be used to finance further R&D into new technologies and on-going development of the company’s existing products, as well as to strengthen the infrastructure of the business through the hiring of new staff, particularly in the areas of engineering and consulting.

Company

Reading-based Semplice is a specialist provider of advanced energy saving and renewable energy solutions that reduce electricity consumption and carbon dioxide emissions. The company works with globally-renowned partners such as Steinel, Baldor, Flurosave, Salicru, Schuco, NeoSave, Fortis Wind Energy, Zephyr and Atlantic Orient Canada to supply a broad range of products with the potential to significantly reduce operating costs. In addition, Semplice also offers a variety of product-related services, including survey and design work, installation services and maintenance, as well as consultancy services. The business was founded in 2005 and has built an impressive client base, including McDonald’s, Mothercare, Tesco, The National Trust and The London Fire Brigade, with revenue for 2008 estimated to reach £2.5m.

People

David Johnson led the investment for BIP and will join the Semplice board. The company was represented by founder and COO Natalie Barker and CEO Mark Truswell.

Advisers

Company - Osborne Clarke, Robert Wood (Legal)Company - Vantis Corporate Finance, (Financial Due Diligence)Equity - Speechly Bircham, David Hicks (Legal)

Sourced from: UK & Ireland unquote" 359 (Dec 2007)