Scottish and Southern Energy (SSE) has agreed to invest £1m in Onzo in return for a 24.5 per cent share of the business. SSE’s investment partner, Sigma Capital Group, 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