A NorthEdge-backed energy technology company has made its first strategic acquisition.
Correla, headquartered in Solihull in the Midlands, was acquired by the private equity firm in March 2021 and is described as the only technology service provider with end-to-end visibility of the UK’s gas network.
It enables access to this data through a real-time, visual and interactive analytics dashboard – enabling customers to monitor the impact of carbon reduction programmes and drive efficient energy usage.
Correla has moved for CloudKB, a cloud-based energy data management business based in London.
CloudKB’s uMesh platform will allow Correla to better connect the energy market, ensuring that the UK can decarbonise as quickly and simply as possible.
“It has been a fantastic year of growth for us,” said Correla CEO Sian Jones (pictured above with Kevin Bird, CEO of CloudKB). “NorthEdge have continued to support us to create an exciting, innovative, and forward-thinking business that enables us to deliver an exceptional experience for even more customers and continue to be a great place to work for our employees.
“As well as all the progress we have made in the core business, the acquisition of CloudKB is a hugely important step for Correla. Together, we have the teams, technology, and knowledge to drive the industry forward – accelerating the adoption of smart meters, electric vehicles and heat pumps in the UK.”
CFO Mark Naylor joined Correla in August while chief revenue officer Randall Bowen was recruited last month. The business has ambitious growth targets, with Randall leading the commercial strategy and expansion into new markets alongside Jones.
We moved to US – then COVID threatened to destroy my business