Moixa expansion continues with £2.5 million investment and plans for 100,000 battery Virtual Power Plant to balance grid
Company announces new Manchester office and battery pilot in Tokyo
Moixa has secured £2.5 million in new investment to help realise its goal of creating a virtual power plant aggregating the capacity of 100,000 home batteries, it announced today at the Housing 2017 conference in Manchester.
A £1 million funding facility from Greater Manchester Combined Authority will see Moixa open a regional sales and delivery centre in the city and it expects to have 20 local staff within a year, with ultimate plans to grow to 60. The office will drive the company’s growth in the north-west by offering solar and storage products to private customers and pursuing multi-thousand unit deployments with social housing clients.
Moixa has also secured £1.5 million in equity investment, including £500,000 from Japan’s largest utility, Tokyo Electric Power Company (TEPCO) and £500,000 from First Imagine! Ventures, the venture capital investor.
Moixa expects to pilot its cost-effective and compact battery systems in Tokyo in a proof of concept trial with TEPCO and other Japanese partners later this year. It is also planning trials in Europe and the US within the next 12 months.
Lady Barbara Judge CBE, chairman of the Institute of Directors and Athene Capital, is an investor in the latest round and will sit on Moixa’s international advisory group as it starts to consider export markets. She joins existing high-profile investors from the energy industry, Sam Laidlaw and Ian Marchant, the former CEOs of Centrica and SSE, and Brian Count former Chief Operating Officer of RWE Npower.
By 2020 Moixa expects to have installed 50,000 UK batteries and to be managing twice as many using its patented, cloud-based “GridShare” platform. This will create a Virtual Power Plant aggregating around 250MWh of capacity to deliver services to the National Grid and utilities that will help reduce the costs of running the electricity network and allow it to support increased levels of renewables. Moixa has been awarded UK and US patents on managing distributed batteries for grid services.
Moixa well positioned as Britain aims to become world leader in battery technology
Simon Daniel, CEO of Moixa, said: “Smart home batteries are transforming our electricity system, saving money for households and communities and supporting a cost-effective, reliable, low-carbon network. We are developing solar plus storage solutions for social housing that will help councils tackle fuel poverty and we look forward to collaborating with Greater Manchester and supporting the low carbon energy transition in the Northern Powerhouse region.”
Councillor Kieran Quinn, Lead Member for Investment and Finance on the Greater Manchester Combined Authority, said: “The GMCA is determined to make Greater Manchester a centre of low-carbon innovation to transform our economy, create new jobs and cut our CO2 emissions by 48%. We are delighted to partner with Moixa; in addition to the clear environmental benefits, their battery storage technology with solar panels has huge potential to cut household bills and tackle fuel poverty.”
Hirokazu Yamaguchi, Executive General Manager, Global Innovation & Investments at TEPCO, said: “Moixa has developed a robust battery storage and smart energy-sharing platform. We look forward to gaining hands-on experience for the benefit of our customers.”
Lady Barbara Judge said: “Britain aims to be a world leader in battery technology and Moixa is well-positioned to seize opportunities in a rapidly emerging global market. It has unrivalled experience in the UK, strong partnerships with key players, and is working at the cutting edge pioneering the use of smart batteries in virtual power plants to cut costs and carbon in our electricity system.”
Moixa is the UK’s leading smart home battery company. It has installed nearly 1,000 systems in the UK with a combined nine million hours of operation, giving it the field experience to scale up its roll-out of products and demand response services.
Solar panels typically cut household electricity bills by up to 30% and batteries can add further savings of 20% by allowing residents to store the free energy generated during the day for use at night.
In addition, Moixa offers customers £50 a year GridShare payments in return for aggregating their battery capacity in Virtual Power Plants to deliver services that make the wider electricity grid more efficient, greener and cheaper to run. Moixa’s GridShare service can help the grid maintain a stable frequency to avoid blackouts and relieve stress by absorbing excess generation from wind and solar farms.
Moixa is pioneering battery aggregation in a series of projects working with a wide range of councils, utilities and community energy groups:
- A trial with Northern Powergrid near Barnsley links 40 home batteries to demonstrate how virtual power plants can relieve pressures on the electricity network and enable more homes to install solar panels without having to upgrade the local network. The project is expected to halve residents’ energy bills and save millions in the costs of running the UK’s power network.
- It is working with Oxford City Council on a two-year project which aims to tackle fuel poverty in one of the city’s most deprived communities. It links smart batteries in 82 homes, a school and community centre with 300kWp of solar panels creating a virtual smart local energy grid allowing the community to maximise use of the free energy it generates.
- Moixa is working with Hitachi on a £10.8 million project on the Scilly Isles which will lay the foundations for the islands to cut electricity bills by 40% and boost renewables by 40%. It is developing platforms to enable home batteries and electric vehicles to help balance supply and demand within the islands’ energy system.
- Moixa has supplied smart batteries to National Energy Action projects in social housing in Camden, Islington and Waltham Forest.
For more information about Moixa and to arrange interviews, please contact:
David Mason [email protected] +44 (0) 7799 072320
Bethan Halls [email protected] +44 (0) 7908 683690
NOTES TO EDITORS
Moixa Technology (www.moixa.com) is the UK’s leading home battery company. Along with smart energy sharing, we help everyone from individual homeowners, to councils and large property companies to manage and cut their electricity bills. We’re the partner of choice for leading installers, housing associations and utility companies.
Moixa has an unrivalled track record in the UK home battery market, with over 10 years of research and development, strong international patents and proven technology. It has installed Moixa Smart batteries in nearly 1000 homes nationwide with a combined capacity of over 2MWh and nine million hours of use. It has worked with councils and housing associations, energy utilities and network operators to deliver more than £6 million of projects.
The Moixa Smart Battery is a compact (50cm x 30cm x 20cm), cost-effective, wall-mounted unit that fits easily into homes and is easily installed. It is an all-in-one Lithium Ion Phosphate battery system, requiring no additional equipment, and AC-coupled, so it can take advantage of smart tariffs by importing electricity from the grid when it is cheap. USB ports allow customers to charge mobile phones and other devices and can support efficient LED lighting, providing power even during outages. It has a 20-year lifespan and comes with an extendable ten-year guarantee.
Moixa smart grid patents are cited by hundreds of international companies and include US20100076615, US9379545, US8849471, GB2476213, US20140159584, GB2510804.