Fuse Energy has been valued at almost £4 billion in just its third year after raising an additional £52 million in funding.
Europe’s fastest-growing energy company, based in London, said it will accelerate international expansion with the money – beginning with Ireland, Spain and the US.
The round was led by global investors Balderton Capital and Lowercarbon Capital. It featured new investors, including Revolut founder Nik Storonsky’s QuantumLight, and included participation from every major existing backer.
The company was founded in 2022 by ex-Revolut executives Alan Chang (pictured) and Charles Orr.
By combining all parts of the energy process in one company – spanning renewable site construction, power generation, trading, supply, installations and hardware – Fuse aims to eliminate many of the inefficiencies that drive up costs for consumers in traditional energy models.
As a result, Fuse says it can scale quickly, operate with greater efficiency, and deliver power at prices that average around 10% lower than incumbents, saving households up to £200 a year on their energy bills.
“From source to socket, we are simplifying the entire energy system by bringing every stage in-house,” said CEO Chang.
“Combined with a relentless focus on efficiency and execution, we’re solving problems no one else can. This new capital and continued investor demand reinforce that we’re building one of the defining companies of the next decade.”
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As of December 2025, Fuse Energy has hit £300m annual recurring revenue, growing 8x year-on-year to become cash flow positive – all before it enters its fourth year.
It is also preparing to launch its first in-house consumer hardware products: a micro solar and battery solution that makes it more accessible and affordable to generate your own solar power.
Recently, the company announced the launch of The Energy Network, a system that rewards customers for shifting usage to off-peak periods, with a public rollout planned for January 2026.
Daniel Waterhouse, general partner at Balderton, commented: “Europe needs sustainable, scalable and resilient power to support the next wave of technological and economic growth, as AI accelerates and energy demand rises.
“Fuse is rebuilding the entire energy system from first principles: vertically integrated, relentlessly efficient and engineered for scale. Alan and Charles’ massive ambition to redefine how the future is powered is what first got us excited three years ago, and the pace and quality of execution since has been beyond our wildest expectations. We’re proud to continue supporting this phenomenal team as they power Europe’s future.”
Clay Dumas, general partner at Lowercarbon, added: “We keep reinvesting in Fuse because they’re proving that a verticalised energy company can be more profitable and scale faster than incumbents, while serving customers with a better product: lower-cost, more reliable, easier-to-access power.”