Myenergi founders on making Britain’s homes more energy independent

“We’re still growing, but it’s been turbulent,” says co-founder of ecotech company Myenergi Jordan Brompton, assessing how one of Britain’s fastest growing companies will fare in 2022.

Brompton’s co-founder and CEO Lee Sutton agrees: “Demand is stronger than ever, especially since [the war] in Ukraine – we have now made many more people think about energy security.’

Founded in 2016 by former electrical engineer Sutton and marketing specialist Brompton, Myenergi initially entered the market with a solar diverter, ‘eddi’, that allows energy generated by solar energy and microturbines to be captured rather than released back into the market. are exported to the network.

It soon followed with what has now become the UK’s best-selling electric vehicle (EV) charger, zappi, as well as a range of other products designed to create an ‘ecosystem’ that allows homeowners to use and store energy more efficiently while minimizing their bills.

When it comes to zappi, for example, the group argues that even with high electricity prices, petrol prices would need to fall to just £1 a liter to match the cost of an electric car charged at home, with the average cost to fully charge an EV just £1. 20 – or 10 pence per kilometer driven.

Six years later, with the help of a £1.2 million investment from former Tesco boss Sir Terry Leahy and Bill Currie, Myenergi has grown from a workforce of six to 350 and is one of the few profitable ecotech companies actively are in the UK.

And while 2022 means Myenergi is addressing issues familiar to businesses across the country, trade has boomed as Britons face ever-increasing energy bills.

The group forecasts a 218 per cent annualized sales increase to £53 million for 2022, and is now building a 6,000 square foot manufacturing facility in Lincolnshire.

Chief marketing officer Brompton says: ‘We are now active in multiple markets – Belgium, Australia, Ireland – and we have a large market share in the UK.

“We have now shipped and produced over 400,000 products, and [the new factory] will enable us to keep pace with the growing demand our company has seen.”

Neither co-founder hides their surprise at the pace of Myenergi’s growth.

Sutton says: “When we started we wanted to build products that really make a difference, with the ambition to contribute to the future of energy and deliver flexible loads to the grid with homes.

“It’s a big dream of mine, but I didn’t really think we’d get into that position in such a time frame.”

But how should this rate of growth be explained?

Brompton says Myenergie is the first to bring a number of products to market, but she admits energy-efficiency-driven eco-technology “is a fast-growing market anyway.”

She explains: ‘There are other macro factors, of course: the drive towards net zero, the [2030] ban on, for example, diesel and petrol cars.

‘The energy crisis has now played a role in this: people want more energy independence.

“We’ve seen the solar energy market essentially go through the roof. We have been working in the renewable industry for a long time, and [solar demand] is at least the same as when it was subsidized.

‘People want to be that little bit more independent, have self-control and more autonomy.’

The group says demand for solar energy is now so great that the number of installations has roughly doubled from around this time last year – about 4,000 per month.

Sutton added: ‘I think what sets us apart from competitors is our understanding of our consumer. Those buying an electric car are likely to consider solar energy and vice versa – the same follows with electric storage and battery storage in the home.

“We’re focused on creating that ecosystem of technology that works as one system, which you just can’t really get when you buy individual products from different vendors.”

Myenergi’s success has proved a boon to Grimsby, the hometown of Sutton and Brompton, providing employment and a much-needed economic boost to the area.

Brompton says, ‘I think it’s pretty rare what we’ve done. We’ve kept the business in the UK and it’s something we’re very proud of, especially being from Grimsby, as there weren’t many opportunities to grow up in this area.

“In order to provide so much employment to an area that was previously underserved, a place known primarily for fishing is now a tech hub – they call it the ‘energy estuary’!”

The group has been actively building its brand and presence in the local community, working with local schools and colleges to train potential employees of the future.

Myenergi is now even supporting his local football club, Grimsby Town FC, with the Mariners switching their main kit sponsor from Young’s Seafood at the start of this season.

Brompton says: ‘We have done our best to get into the hearts and minds of the local area to show them that there is opportunity in a very fast growing green market space.

“We’re seeing some real careers coming out of it and the domino effect of that is huge. There is a real buzz in this part of the country – we have [Danish energy group] Orsted also on the river bank.

‘Personally, we also get a lot of messages from companies all over the North, inspired by what we do and thinking about cheaper, more local entrepreneurship, which can only benefit us all.’

But how can this eco-success be replicated in other parts of the country that need revitalization?

For both founders, part of the answer lies in stability and continuity, as public policy has suffered a lot from ‘hook and change’ in recent years.

“In 2015, when they just completely cut the PV feed-in tariff to virtually zero, about 50 per cent of installers went out of business,” Sutton explains, adding that Britain is facing a trader shortage as a result it needs for the energy transition.

“As with EVs, if you want to install a solar system, you look forward to it for a long time because the demand is so high. We need more installers, so anything the government can do to encourage people to enter the industry and become installers is welcome.”

Brompton adds: “We need to upskill as a nation to be able to go low carbon. We have to look at the education system.’

The pair believe decarbonization and the energy transition are both a necessity and a foregone conclusion, giving Myenergi the potential to continue its growth trajectory in the years to come.

“There is huge demand for renewables and huge demand for EVs, and we feel we now have a real responsibility to make sure we play our part in that and do it as sustainably as possible,” says Brompton.

“Every market wants to go carbon free and that is an opportunity [for Myenergi] for international expansion and tapping into other markets.’