Mixergy: This Oxford University spin-out is spending €14m to help slash water bills

Mixergy uses machine learning to intelligently heat water during off-peak energy periods, which helps to cut energy consumption and, it claims, lower bills by up to 60 percent.

Last week the company announced it had successfully closed a funding round worth around €14m (£12m) led by the UK-based Barclays Climate Ventures.

The firm says it is now planning to use the funding to drive Mixergy’s transition towards a model where they will license their technology to other businesses and form strategic partnerships. They'll focus on three main areas: newly built homes, upgrading social housing, and commercial buildings. Mixergy says it will also expand its research to develop better equipment and software.

Accelerates our ability to develop scalable solutions

“This investment accelerates our ability to develop scalable solutions for our technology partners, helping them navigate the changing global energy landscape,” said Pete Armstrong, CEO and co-founder of Mixergy, following the funding announcement.

Alongside a cash injection from Barclays Climate Ventures, the round also saw continued backing from existing shareholders including Oxford-based Oxford Sciences Enterprises, London-based Kiko Ventures, London-based innovation foundation Nesta, and Lisbon-based EDP Ventures (the venture capital arm of Portuguese energy company EDP).

Mixergy began its journey in 2014 when Armstrong and fellow Oxford University PhD student Ren Kang developed their breakthrough water tank system. The company's smart water cylinders function as energy storage units, balancing the grid by storing low-cost energy and releasing it when needed. It is designed to reduce home heating costs and improve energy efficiency while cutting carbon emissions.

A new partnership with heating company Ambion

Since the funding announcement, Mixergy has already revealed that it is partnering with another British heating company, Ambion, to provide innovative and energy-efficient heating and hot water solutions for social housing providers and new-build developers in the UK.

Ambion uses algorithm-controlled systems to spread heat demand evenly throughout the day, ensuring no usage spikes during peak hours.

“By combining Mixergy’s smart hot water cylinders with Ambion’s infrared heating technology, we’re offering a sustainable alternative for flats and smaller homes,” Mixergy posted on LinkedIn. “This partnership is a game-changer for affordable, future-ready heating”.