Investing in Onzo

(SSE) has agreed to invest £1m in

in return for a 24.5 per cent share of the business. SSE's investment partner,

, will also invest £1m for an equivalent 24.5 per cent share.

Onzo is a newly established data systems development business, with specific intellectual property relating to the development of display devices that support smart metering systems. The devices are said to provide real-time information about energy consumption and have the potential to provide data down to the individual appliance level.

SSE has placed initial orders worth over £7m with Onzo for the company's energy display products and specialist data services. As part of this order, SSE has secured exclusive rights to Onzo's products and services covering the UK and Ireland.