Mott MacDonald Ventures is to take a stake in Piclo, the energy flexibility trading platform that connects buyers and sellers of energy. It has made an equity investment as part of a Series A £4.7M funding round the Clean Growth Fund (which made its first investment in Piclo in December 2020) and the Green Angel Syndicate.
Mott MacDonald Ventures said it would work closely with Piclo to deliver new digital solutions to clients in the energy, transport, water and built environment sectors, supported by Mott MacDonald’s Moata Smart Energy tools, which optimise performance and maximises returns from renewables.
James Johnston, chief executive and co-founder of Piclo said: “Strategic partnerships are very important for facing up to the challenge of decarbonisation, so it’s fantastic to close our Series A round with a like-minded investor that is as ambitious as we are. Alongside Mott MacDonald with the active support of the Clean Growth Fund and the Green Angel Syndicate, Piclo will continue to accelerate flexibility markets in the UK and internationally, grow our team and ramp up the development of new solutions”.
Beverley Gower-Jones, managing partner of the Clean Growth Fund said: “Mott MacDonald’s welcome investment in Piclo is testament to their commitment to Net Zero. The Clean Growth Fund actively encourages co-investment from major corporates who have such an important role to play in achieving the global Net Zero goal”.