Mott MacDonald Ventures, the strategic corporate venture arm of Mott MacDonald, has made an equity investment in smart energy company Piclo.
Chaired by Volker Beckers the former group CEO of RWE Npower, Piclo was established in 2013 to accelerate the decarbonisation of electricity grids.
Described as an 'energy-market disruptor, cleantech start-up', it provides an energy flexibility trading platform that connects buyers and sellers of energy.
The company provides 'an independent, online flexibility marketplace that enables electricity networks to buy services from flexibility providers that support network resilience, defer grid reinforcement and advance network reliability'.
In a statement, Mott MacDonald said: 'The Piclo Flex platform is paving the way for new low carbon technologies, such as electric vehicles, energy storage and flexible demand to balance the grid at lower cost. It is currently in use by four of the UK’s distribution network operators, including UK Power Networks who awarded £14m of flexibility contracts via the Piclo platform last year.'
Part of an investor syndicate under a £4.7m funding round of the Government-supported Clean Growth Fund - which first invested in Piclo in December 2020 - and together with the Green Angel Syndicate, Mott MacDonald Ventures is partnering with Piclo to support its mission to make electricity grids efficient, reliable and powered by sustainable energy.
Mott MacDonald Ventures will work closely with Piclo to deliver new digital solutions to clients in the energy, transport, water and built environment sectors, supported through Moata Smart Energy, a suite of digital tools that optimises performance and maximises returns from renewables.
The investment is linked to Mott MacDonald’s ‘Net Zero’ strategy which includes a toolkit that helps non-energy clients decarbonise their electricity supplies.
James Johnston, CEO and co-founder of Piclo said: 'Alongside Mott MacDonald with the active support of the Clean Growth Fund and the Green Angel Syndicate, Piclo will continue to accelerate flexibility markets in the UK and internationally, grow our team and ramp up the development of new solutions.'
Beverley Gower-Jones, managing partner of the Clean Growth Fund, said: 'Mott MacDonald’s welcome investment in Piclo is testament to their commitment to net zero. The Clean Growth Fund actively encourages co-investment from major corporates who have such an important role to play in achieving the global net zero goal.'