Cleantech Invest forays into next generation energy management and invests in Watty

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Cleantech Invest Plc
Company Announcement     23 January 2015 at 8.30 am (EET)

Cleantech Invest Plc is investing in Swedish company Watty. The investment is part of a bigger funding round where Watty has secured 10 million SEK to take their solution to the market. The other actors in the funding round are Swedish business angels and the Swedish Energy Agency. After the investment round, Cleantech Invest’s holding in Watty is just under 1%. The investment gives Cleantech Invest a foothold in the emerging arena of home energy management.

Alexander Lidgren, Managing Director of Cleantech Invest comments: ”Watty has a low threshold for customers and makes a lot of sense for those who want to cut their electricity bill. It simply is a cool product. But what matters even more is that there is an incredible team behind it. They have the skills, the drive and they have fun doing it. It is one of the most exciting opportunities I have seen in this space over the last years.”

Watty is a Swedish energy data start-up that aims at making it really simple for families to reduce their energy bills. With a single hardware device Watty identifies how much energy each appliance is using in a home – and then creates customised recommendations of the smartest way for the family to save energy. Watty was recently awarded the Green Mentorship Award from Niklas Zennström.

Lidgren continues: ”This first investment is small but provided the company develops well, we will consider increasing our ownership”.

CLEANTECH INVEST PLC

Further information:
Alexander Lidgren, Managing Director of Cleantech Invest Plc, tel. +46 73 660 1007, alexander.lidgren@cleantechinvest.com

Certified Advisor Access Partners Oy, tel. +358 9 682 9500.