Retail energy software as a service (SaaS) provider ENSEK has acquired fellow energy tech firm Zoa in an effort to expand its offering.
ENSEK provides some of the UK’s biggest energy firms, including Good Energy, Utility Warehouse and British Gas parent company Centrica, with software to manage their customers, including billing, sign ups, customer service and more.
Meanwhile, Zoa, which was born out of the ashes of the collapse of energy supplier Bulb, provides AI-powered SaaS solutions to manage homes that make greater use of renewable technologies and other smart devices. Zoa’s AI-powered home energy management platform will be added to ENSEK’s suite of tech solutions, most notably its Ignition retail operating platform.
Jon Slade, chief executive officer at ENSEK, said: “The acquisition of Zoa is an important next step in realising our strategic vision to deliver a secure and sustainable energy system of the future. Bringing together our two businesses means we will be able to provide customers with an expanded offering, creating a unique platform for a new era of energy. This is an extremely exciting milestone not just for ENSEK and Zoa, but for our current and future customers.”
Tom Fraine, co-CEO of Zoa, added: “It is very clear that the next evolution of the energy tech sector is happening, as leading players strengthen their technological capabilities in order to drive the energy transition and better serve consumer needs. Together we can leverage the best of ENSEK’s brilliant energy retail platform and our leading expertise in electrification and AI to drive the market forwards.”
Fraine’s co-CEO Sara Brooks echoed his statements, calling the acquisition “a validation of the strategic value of our technology and the talented team behind it.”
Importance of software becoming clear
With the increased digitisation of our energy system, software providers are constantly having to innovate to ensure the grid can keep up.
As a result, energy software providers are landing major contracts left and right, with Kinewell Energy announcing last week that it had signed multi-year deals with two global energy majors for its AI-powered cabling design software, and SSEN Distribution adopting the ElectronConnect Flexibility Market Platform to manage its flexibility services.
Meanwhile, the venture capital arm of EDP Renewables announced last month that it had made a major investment into UK-based software solutions provider Piclo. Piclo states that it will use this funding to expand its operations in the US and Australia.
