FWT first invested in Mixergy Limited in 2019, and has now invested a total of £1.95 million into the Oxford University spin-out developing smart hot water tanks.
Mixergy was founded in 2014 by Peter Armstrong, CEO, and Ren Kang, Head of R&D, following the completion of their PhD research at Oxford University where the duo originally developed the idea during their doctoral research. The team has since grown and built strong relationships with British Gas with whom they launched their tanks in 2020. Mixergy’s product range gives consumers greater control and oversight of their hot water systems, and a tank that heats up five times faster than a traditional tank.
The growth capital investment has been used to roll out its products across the UK and to bolster its international growth strategy, as well grow the team based at its Oxford head office.
More information on Mixergy is available at https://www.mixergy.co.uk/