A new player has stepped into the UK’s energy market.
Fuse Energy Supply Ltd., led by Co-Founders Alan Chang and Charles Orr, former executives at Revolut, has recently emerged with an ambition to revolutionise the UK’s energy sector.
The company’s core promise is to offer the “cheapest electricity tariff” in the UK.
Speaking about the company’s mission, Alan Chang, Chief Executive Officer of Fuse Energy, said: “We believe that affordable electricity should be a basic right, not a luxury. At Fuse, we’re on a mission to make that a reality.”
This approach is further enhanced by their ‘cut out the middleman’ model, ensuring transparency and efficiency throughout the supply chain, Chang explained.
Recently, Fuse Energy acquired two solar farms, Netley North in Southampton and Bullous Park in Exeter.
The company currently operates renewable energy projects at an 18MW capacity, with a pipeline of more than 100MW for upcoming projects.
The company’s ambition extends beyond residential customers, with a solar power purchase agreement (PPA) for businesses. By providing the “cheapest commercial solar PPA” in the UK, Fuse Energy aims to help businesses reduce their carbon footprint.
Chang added: “We’re fortunate to have the support of leading investors who share our vision. Balderton Capital, Lakestar, Accel, Lowercarbon Capital, Creandum, Ribbit, and Sustainability Entrepreneur and 2016 Formula 1 World Champion Nico Rosberg believe in our mission and have backed us with their investments.
“Additionally, we’re privileged to have Dermot Nolan, former Chief Executive Officer of Ofgem, as an advisor. Their support and expertise have been invaluable on our journey.”