An energy data firm has been backed with a multi-million-pound investment from BGF.
Stark, based in Horley, Surrey, was established 40 years ago and collects, processes, assures and distributes data representing around 20 per cent of the UK’s electricity supply.
It serves more than 30,000 organisations including large energy users, intermediaries, and energy suppliers – large and small. The company employs over 280 people from its four offices across the UK.
The funding will be used to consolidate and expand Stark’s data, analytics and metering service offering as well as address emerging data-driven opportunities around the integration of electric vehicles, storage, and the delivery of Net Zero, both in the UK and internationally.
Alongside the investment, Steve Jennings, former head of energy and utilities at PwC and NED of BGF portfolio company, Cornwall Insight, has been appointed to the board. Steve’s appointment is the result of an introduction from BGF’s Talent Network, which is the UK’s largest pool of non-executive directors.
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Chairman Joel Stark said: “The funding from BGF is a huge step forward for Stark – helping us scale faster and meet our goal of empowering businesses to hit ‘net zero’ emissions through clearer and more timely data and insights.
“BGF’s expertise in the field of cleantech and its commitment to sustainable investments made it the natural partner to facilitate our growth plans.”
The deal was led by Tom McDonnell, Chris Jones and Bethany Shiers from BGF.
Tom McDonnell, Investor at BGF, said: “As an established, scalable business, with a mission to help energy users reduce their gas and electricity consumption, we are incredibly excited to be working with Stark.
“The company has an impressive management team that has built an industry leading data offering and consistently grown market share due to continued innovations in its service offering.
“We’re looking forward to working with Joel and the team to take the business to the next stage of its growth.”
Energy