myenergi

Myenergi, founded in Lincolnshire in 2016, is a designer and manufacturer of smart renewable energy products that increase the self-consumption of green energy as efficiently and cost effectively as possible.

Following the successful development of its first two products, eddi (a solar powered diverter) and zappi (an intelligent EV charger which provides pay-back benefits), myenergi identified significant market opportunities to increase the scale of production whilst also developing additional products. This included the ongoing development of zappi 2, building upon the original zappi, and production of a “hub” (providing internet connection to other myenergi products). Aligned with this, myenergi was seeking to expand into a larger industrial unit.

Why engage with Invest to Grow?

To increase its scale of production, and enable the ongoing development of zappi 2, myenergi needed to purchase and install a range of new production machinery and equipment. Examples of this included an Automatic Optical Inspection (AOI) System, a fume extraction and air circulation system, and steel tooling for the zappi 2 production. Alongside this equipment, the company’s expansion required the purchase of additional workstations, electrical installation and the provision of training.

Following the identification of these key investment requirements, myenergi was awarded £32,586 from Invest to Grow in late 2018.

What has been the impact of Invest to Grow?

The funding from Invest to Grow initially enabled myenergi to purchase the machinery and equipment it required. This supported the company’s ability to significantly increase the scale of production, and to further develop its zappi 2 product, which went to market in July 2019. Dr Chris Horne, Chief Technology Officer at myenergi, commented:

“When you look at the equipment it enabled us to purchase, it is clear that the funding from Invest to Grow provided us with the capability to significantly increase the scale of our activity.”

As a result of scaling up the production of its key products, including the development of the zappi 2 and harvi (an energy harvesting wireless sensor) products, myenergi has experienced rapid growth over the last two years. This is reflected in terms of jobs and turnover, with Dr Horne commenting:

“When I joined in March 2019 there were 22 members of staff; now we have around 120. Prior to the Invest to Grow project our annual turnover was around £600k; last year it was £3.5m. Both jobs and turnover are continuing to rise, whereby we could well have 200 employees by the end of 2021.”

Significantly increased production levels have enabled this growth. For example, around 34 units of the zappi hit the production plant in its first week (prior to the investment in new equipment), compared to 1,000  per week at present. myenergi is planning to further scale up production to meet demand, with investment in further additional production machinery.

To support and facilitate this significant growth, in addition to its original industrial units myenergi is now renting a 35,000ft² warehouse in Grimsby – at the same time as its new headquarters are being built. It is also in the process of purchasing land to build its own large factory next to these new headquarters. myenergi has also expanded by creating subsidiaries in Germany and the Benelux countries, and has established a company in Ireland which will launch in March 2021.

Ultimately, myenergi has experienced rapid and continued growth through the development and scale up of its smart electronic devices. Dr Horne explained how the support from Invest to Grow played an important role in this scale up process by enabling the business to exploit market opportunities:

“It feels like we needed something to light the blue touch paper, and that’s what the support of Invest to Grow helped us with. It gave us the opportunity to take our great products and seize a growing market. Without it, we would have struggled to get where we are now as it would have been difficult for us to invest in the new equipment we needed at the time.”