Tokyo Electric Power Company Holdings (TEPCO), one of Japan’s leading energy corporations, has poured £500,000 of equity investment into London-based residential battery developer Moixa Energy Holdings.
The investment will serve to aid Moixa’s growth into new markets, particularly those with a growing thirst for modular home storage solutions and smart energy sharing platforms.
Moixa’s flagship product is its Maslow home battery and GridShare platform, which enables storage system owners to aggregate their batteries on to a virtual platform where providers share stored energy among households, thereby reducing load on grids during peak demand to create a flat grid.
TEPCO’s investment into the British firm will likely smooth entry into the potentially lucrative Japanese storage sector. “Having previously worked with TEPCO,” said Moixa chairman and former global head of energy at Accenture David Thomlinson, “I am particularly pleased to be able to partner with this leading Japanese corporate to bring the Moixa technology to new markets.”
The executive general manager for TEPCO’s global innovation and investments department Hirokazu Yamaguchi added: “Moixa has developed a robust battery storage and smart-energy sharing platform. We look forward to gaining hands-on experience for the benefit of our customers.”
TEPCO is Japan’s largest power utility, providing electricity to more than 29 million households and businesses.