A Japanese energy firm has announced a £500,000 equity investment in a UK battery company.
Tokyo Electric Power Company (TEPCO), which serves more than 29 million homes and businesses in Japan, said it is part of its plans to grow its portfolio of innovative start-ups.
Moixa offers smart battery for residential customers that helps households save money by storing spare solar or cheap tariff electricity.
In addition, its cloud-based GridShare platform helps manage and aggregate distributed storage resources.
TEPCO believes technologies such as distributed solar and batteries are enabling innovative new ways of producing, consuming and sharing of energy.
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.”