UK - LCA et al. invest £5.8m into ResponsiveLoad

Deborah
01 October 2009

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Existing backer Low Carbon Accelerator (LCA), alongside Naxos Capital Partners and Carbon Trust Investment Limited, have invested in cleantech company ResponsiveLoad as part of a funding round totalling £5.8m.

The funds will be drawn down in two tranches; the first £2.3m will be drawn immediately, and the remainder will be drawn subject to the completion of certain milestones. LCA has committed a total of £1m to this round, £397,000 of which will be included in the first tranche.

ResponsiveLoad has developed smart grid-management technology Dynamic Demand, which increases the energy efficiency of the whole electricity supply chain, from white goods and appliances through to large scale power generators.

The new funding will be used to further support the commercial roll-out of the product in the UK and other new geographies next year.

LCA has now invested a total of £3.63m over the last two years. After the completion of this funding round, the firm will hold a significant minority stake in the company.