OVO Energy, founded in 2009 in Bristol (United Kingdom) by Stephen Fitzpatrick, is an app-based renewable energy supplier providing electricity, biogas, EV charging bundles, and smart-home energy solutions. The company enables consumers to manage power usage digitally through its mobile app, offering services like billing, quotes, smart meters, and energy storage integrations.
OVO Energy aims to modernize the energy ecosystem through cleaner power, smart-grid support, and vehicle-to-grid (V2G) technology that allows stored vehicle energy to be supplied back to the grid.
What Is OVO Energy and What Does It Do?
OVO Energy, founded in 2009 by Stephen Fitzpatrick, is a Bristol-based (United Kingdom) renewable energy supplier delivering power, biogas, EV charging bundles, and smart storage systems. The company specializes in empowering consumers with digital tools to manage their home energy needs efficiently.
OVO Energy employs 1,115 employees. Its platform provides app-based power management, online billing, real-time usage insights, and V2G technology that helps stabilize grid networks. By integrating smart meters and energy storage systems, OVO Energy supports the global transition to clean, efficient energy usage.
How Much Funding Has OVO Energy Raised?
1. Series D
- Amount Raised: $258M
- Lead Investors: Morgan Stanley, Mayfair
- Motivation: To accelerate renewable energy expansion, EV charging growth, and digital infrastructure.
2. Grant (Prize Money)
- Amount Raised: $5.18M
- Motivation: To support innovation projects related to green energy and sustainability.
3. Series C
- Amount Raised: $258M
- Lead Investors: Mitsubishi Corporation
- Motivation: To fuel large-scale growth, smart-meter rollout, and grid-integration advancements.
Total Funding Raised: $516 Million
Current Valuation: $1 Billion (as of 2019)
Latest Funding Date: 2023
Key Investors
1. Morgan Stanley
- Details: A global financial services firm investing heavily in climate-aligned technologies.
- Investment Focus Areas: Energy, infrastructure, climate tech.
- Notable Investments: Tesla, Sunrun, ChargePoint.
2. Mayfair
- Details: UK-based investment firm backing high-growth companies across energy, retail, and technology sectors.
- Investment Focus Areas: Consumer industries, energy, sustainability.
- Notable Investments: Ovo Group, Yo! Sushi, The Gym Group.
3. Mitsubishi Corporation
- Details: A global conglomerate with diversified investments including mobility, energy, finance, and sustainability.
- Investment Focus Areas: Energy innovation, sustainable mobility, industrial tech.
- Notable Investments: Lawson, NEPLAN, Eneco.
Where Is OVO Energy’s Headquarters?
OVO Energy is headquartered in Bristol, United Kingdom, a strategic location supporting access to top engineering talent, green-tech innovation hubs, and nationwide energy infrastructure networks crucial for smart-grid rollout and renewable energy adoption.
What’s Next for OVO Energy?
OVO Energy is set to strengthen its leadership in renewable power through expanded EV charging ecosystems, advanced smart-meter deployments, and V2G technology integration. With strong investor backing and a $1B valuation, the company aims to accelerate decarbonization, enhance customer-centric digital features, and broaden its footprint across Europe as demand for sustainable energy solutions continues to rise.
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