Liverpool-based cleantech startup Heatio has secured £2 million in funding, helping it move closer to its mission of making clean energy more accessible and affordable.
The oversubscribed investment round was led by Ascension (which backed Tech4Good and Zen Educate), with support from several co-investors, including Conduit Connect, The Syndicate Room, Baltic Ventures, LYVA Labs, and deep tech investor Neil Norman.
Funds utilisation
The investment will be used to expand the Heatio team, launch version 2 of the Heatio Flexx app, and scale the onboarding process for new customers.
Jean de Fougerolles, Managing Partner at Ascension, who will also be joining the Heatio board said: “We are thrilled to be supporting Heatio in its mission to reduce energy costs and democratise access to renewable sources of energy for the home. We look forward to helping the team achieve its vision.”
Chairman and key investor Neil Norman said “Heatio has the potential to accelerate the transition to clean, affordable energy in the home with its innovative Flexx platform. I look forward to supporting Simon, Tom, and the team to realise their ambition to the full.”
Akshay Bhatnagar, Head of Investment at LYVA Labs said: “It was a pleasure to work with Tom and Simon as part of LYVA Labs’ incubator programme and to have supported the company with a £100,000 investment as part of this £2m round. We hope this will inspire innovative start-ups in life sciences, deep tech, and climate tech to apply to our next incubator programme, launching in September, with the opportunity to receive investment and support from LYVA Labs.”
Mo Aldalou, Programme Director, Baltic Ventures, said: “Tom and Simon were part of Baltic Ventures’ first cohort and we were blown away by their conviction, passion, and tenacity as founders. We were incredibly proud to invest in them through our angel syndicate and support their growth, learning, and fundraising journeys through our annual flagship Accelerator programme.”
What does Heatio do?
Founded in 2022 by Simon Roberts and Thomas Farquhar, Heatio is revolutionising home energy management with smart home energy platform, Heatio Flexx.
This home energy platform, connected to Heatio’s Virtual Power Plant, optimises and manages renewable technologies like solar panels, heat pumps, EV chargers, and batteries.
Using AI and machine learning, Heatio Flexx also provides tailored energy solutions based on the property type and how much energy individual households use, making the property more efficient and enabling consumers to save money on their energy bills.
Simon Roberts, CEO of Heatio, added: “Our ability to help homeowners access affordable energy via our Flexx platform and virtual power plant drives energy security and helps the UK get to a clean, green future. When we launched Heatio two years ago, our priority was to help more consumers access green technology and reduce the use of fossil fuels to decarbonise their homes. Through this investment, we are moving closer to making that a reality. We are looking forward to driving our expansion and working with industry leaders and would like to extend our appreciation to every investor for helping us get where we are today.”
Future plans
Working with E.ON and Energy Systems Catapult, Heatio will provide a new renewable technology subscription called Energy as a Service (EaaS), in a pilot contract for 350 homes in the North West that will eliminate upfront costs for consumers considering heat pumps, solar PV, or battery storage.
The company is working in partnership with Perenna Bank and Energy Systems Catapult to launch a long-term fixed-rate green mortgage that rewards homeowners with a preferential interest rate for retrofitting their homes with low-carbon technologies, driven by the Heatio Flexx platform.
What do we think about Heatio?
Heatio is transforming home energy management with its innovative Flexx platform, making clean energy more accessible and affordable. By optimising renewable technologies using AI, Heatio helps homeowners save on energy bills and supports the UK’s transition to a green future. Their recent funding and strategic partnerships highlight their potential to revolutionise home energy efficiency and sustainability.
