Kaluza expands internationally, strengthening Ovo's tech and financial position.  Ovo Energy, the UK's fourth-largest residential gas and electricity supplier, is planning to sell a stake in its software arm, Kaluza, at a potential “unicorn” valuation, Sky News has reported.  The move is part of a broader strategy to bolster the balance sheet of the company, which serves just under four million retail customers.  The company has appointed investment bank Arma Partners to explore options for the potential sale of Kaluza, which it owns 80% of, with the remaining 20% held by Australian energy firm AGL.  Kaluza describes itself as an energy intelligence platform and recently announced a licensing partnership with French energy group Engie.  Industry sources suggest that Ovo could seek a valuation for Kaluza exceeding $1 billion, with some analysts projecting valuations as high as $2.5 billion based on annual recurring revenue (ARR).  Kaluza has been expanding internationally, recently acquiring Australian energy software specialist Beige Technologies to strengthen its presence in the Asia-Pacific market.  The company is led by chief executive Melissa Gander.  Financial strengthening and investor interest  The prospective stake sale comes amid Ovo's broader efforts to improve its financial position.  Rothschild, the investment bank, has been in talks with potential investors regarding a £300 million capital injection.  At one stage, these discussions included Iberdrola, the owner of Scottish Power, while Centrica, parent company of British Gas, may also have shown interest.  The sources cited in the report said that a deal with a third party could be finalized before the end of the year.  Ovo, like its competitor Octopus Energy, has struggled to meet new capital adequacy requirements set by the industry regulator Ofgem.  The company stated that it has “taken proactive measures to align with Ofgem's new capital rules, working constructively to meet the requirements.”  In parallel, the company recently named Dame Jayne-Anne Gadhia, former Virgin Money chief, as independent chair of its retail arm, signaling a continued focus on governance and oversight.  Ovo's market position  Founded in 2009 by entrepreneur Stephen Fitzpatrick, who also owns London's Kensington Roof Gardens, Ovo positioned itself as a challenger brand in the UK energy sector, aiming to offer better service than established suppliers.  Its shareholders include private equity firm Mayfair Equity Partners, Morgan Stanley Investment Management, and Japanese conglomerate Mitsubishi Corporation.  Ovo's transformational moment came in 2020, when it acquired SSE's retail supply business, instantly becoming one of the UK's leading energy companies.  However, growth has not been without challenges.  The company has faced scrutiny from Ofgem and a series of customer complaints, particularly around overcharging.  The business is now run by chief executive David Buttress, who briefly served as Boris Johnson's cost-of-living tsar after leaving Just Eat.  The planned stake sale in Kaluza reflects a broader trend among UK energy suppliers, with competitors like Octopus Energy exploring similar transactions in their software arms.  With Kaluza's international expansion, licensing partnerships, and investor interest, Ovo appears poised to leverage its software assets to strengthen financial stability while maintaining its position in the competitive UK energy market.  Facebook  Twitter  LinkedIn  Reddit  WhatsApp  Telegram  More  Related news  Ovo Energy explores sale of Kaluza Stake at “unicorn” valuation: report  Denmark faces new drone incursion at key military air base  US digest: Tesla gains, PCE unchanged, consumer sentiment slips  Evening digest: Amazon's AGI VP steps down; Boeing to resume talks with striking union  UK's digital ID plan: What it is, how it works, and why it's facing a backlash

Ovo Energy explores sale of Kaluza Stake at “unicorn” valuation: report

The move is part of a broader strategy to bolster the balance sheet of the company, which serves just under four million retail customers.  The company has appointed investment bank Arma Partners to explore options for the potential sale of Kaluza, which it owns 80% of, with the remaining 20% held by Australian energy firm AGL.  Kaluza describes itself as an energy intelligence platform and recently announced a licensing partnership with French energy group Engie.  Industry sources suggest that Ovo could seek a valuation for Kaluza exceeding $1 billion, with some analysts projecting valuations as high as $2.5 billion based on annual recurring revenue (ARR).  Kaluza has been expanding internationally, recently acquiring Australian energy software specialist Beige Technologies to strengthen its presence in the Asia-Pacific market.  The company is led by chief executive Melissa Gander.  Rothschild, the investment bank, has been in talks with potential investors regarding a £300 million capital injection.  At one stage, these discussions included Iberdrola , the owner of Scottish Power, while Centrica , parent company of British Gas, may also have shown interest.  The sources cited in the report said that a deal with a third party could be finalized before the end of the year.  Ovo, like its competitor Octopus Energy, has struggled to meet new capital adequacy requirements set by the industry regulator Ofgem.  The company stated that it has “taken proactive measures to align with Ofgem's new capital rules, working constructively to meet the requirements.”  In parallel, the company recently named Dame Jayne-Anne Gadhia, former Virgin Money chief, as independent chair of its retail arm, signaling a continued focus on governance and oversight.  Its shareholders include private equity firm Mayfair Equity Partners, Morgan Stanley Investment Management , and Japanese conglomerate Mitsubishi Corporation.  Ovo's transformational moment came in 2020, when it acquired SSE's retail supply business, instantly becoming one of the UK's leading energy companies.  However, growth has not been without challenges.  The company has faced scrutiny from Ofgem and a series of customer complaints, particularly around overcharging.  The business is now run by chief executive David Buttress, who briefly served as Boris Johnson's cost-of-living tsar after leaving Just Eat.  The planned stake sale in Kaluza reflects a broader trend among UK energy suppliers, with competitors like Octopus Energy exploring similar transactions in their software arms.  With Kaluza's international expansion, licensing partnerships, and investor interest, Ovo appears poised to leverage its software assets to strengthen financial stability while maintaining its position in the competitive UK energy market.  This article first appeared on Invezz.com  With IBE making headlines, savvy investors are asking: Is it truly valued fairly? In a market full of overpriced darlings, identifying true value can be challenging.  InvestingPro's advanced AI algorithms have analyzed IBE alongside thousands of other stocks to uncover hidden gems.  These undervalued stocks, potentially including IBE , could offer substantial returns as the market corrects. In 2025 alone, our AI identified several undervalued stocks that later surged by 50% or more.  Is IBE poised for similar growth? Don't miss the opportunity to find out.

worldwide – has chosen Kaluza's Energy Intelligence Platform to deploy cutting-edge digital technologies aimed at enhancing customer experience and accelerating the shift to smarter, cleaner energy. Kaluza was selected by ENGIE for this multi-year, multi-market agreement following a rigorous evaluation of technology providers.  Kaluza's platform combines real-time data architecture and an intelligence layer that enables energy companies to seamlessly integrate customer operations, optimise distributed energy assets and launch new services at scale. Built on cloud-native, modular infrastructure, Kaluza gives ENGIE the agility and scalability needed to lead in a rapidly transforming energy system.  Biljana Kaitovic, Managing Director, OneBtoC, ENGIE, said:  “This partnership with Kaluza reflects ENGIE's dedication to pursuing innovation in support of our net-zero ambitions. By leveraging real-time intelligence, we will strengthen our ability to deliver competitive, reliable and personalised services to our customers.”  Melissa Gander, CEO of Kaluza, said:  “This is more than a technology agreement. Kaluza was designed to help providers like ENGIE lead in a fast-changing world: streamlining operations, enabling new business models and unlocking value for customers and the grid. By working in partnership, we can turn the challenges of electrification into opportunities for growth and long-term impact.”  This agreement highlights the rising global demand for Kaluza's Energy Intelligence Platform, already trusted by suppliers such as OVO in the UK and AGL in Australia. By unifying operations and enabling smarter, more sustainable services, Kaluza is cementing its position as the partner of choice for energy providers navigating the shift to a clean energy future.  Learn more at www.kaluza.com

Kaluza signs a global agreement with ENGIE to deploy its Energy Intelligence Platform

In a wide-scale licensing arrangement, ENGIE – a global energy player serving 20 million consumer contracts worldwide – has chosen Kaluza's Energy Intelligence Platform to deploy cutting-edge digital technologies aimed at enhancing customer experience and accelerating the shift to smarter, cleaner energy. Kaluza was selected by ENGIE for this multi-year, multi-market agreement following a rigorous evaluation of technology providers.  Kaluza's platform combines real-time data architecture and an intelligence layer that enables energy companies to seamlessly integrate customer operations, optimise distributed energy assets and launch new services at scale. Built on cloud-native, modular infrastructure, Kaluza gives ENGIE the agility and scalability needed to lead in a rapidly transforming energy system.  Biljana Kaitovic, Managing Director, OneBtoC, ENGIE, said:  “This partnership with Kaluza reflects ENGIE's dedication to pursuing innovation in support of our net-zero ambitions. By leveraging real-time intelligence, we will strengthen our ability to deliver competitive, reliable and personalised services to our customers.”  Melissa Gander, CEO of Kaluza, said:  “This is more than a technology agreement. Kaluza was designed to help providers like ENGIE lead in a fast-changing world: streamlining operations, enabling new business models and unlocking value for customers and the grid. By working in partnership, we can turn the challenges of electrification into opportunities for growth and long-term impact.”  This agreement highlights the rising global demand for Kaluza's Energy Intelligence Platform, already trusted by suppliers such as OVO in the UK and AGL in Australia. By unifying operations and enabling smarter, more sustainable services, Kaluza is cementing its position as the partner of choice for energy providers navigating the shift to a clean energy future.  Learn more at www.kaluza.com  View source version on businesswire.com:  Kaluza press contact  kaluza@brands2life.com  Logo

LONDON & PARIS--(BUSINESS WIRE)--In a wide-scale licensing arrangement, ENGIE – a global energy player serving 20 million consumer contracts worldwide – has chosen Kaluza’s Energy Intelligence Platform to deploy cutting-edge digital technologies aimed at enhancing customer experience and accelerating the shift to smarter, cleaner energy. Kaluza was selected by ENGIE for this multi-year, multi-market agreement following a rigorous evaluation of technology providers. Kaluza’s platform combines re

OVO Energy provides energy solutions with a focus on sustainability and smart energy management. The company offers a range of services, including energy supply, smart meter installation, electric vehicle charging solutions, and solar panel systems. It primarily serves the residential energy sector, offering products that enable consumers to manage and reduce their energy consumption. It was founded in 2009 and is based in Bristol, United Kingdom.

OVO Energy

Volvo Cars (VLVOF: OTCPK) is an automobile manufacturer known for its emphasis on safety, autonomous driving, and electrification within the automotive industry. The company offers a range of vehicles with safety features, autonomous driving technology, and invention in electrification. Volvo Cars serves the automotive market, with an emphasis on transportation solutions. It was founded in 1927 and is based in Gothenburg, Sweden. Volvo Cars operates as a subsidiary of Geely.

Volvo Cars

Nicole Melillo Shaw , Managing Director of Volvo , stated , `` With this new partnership with OVO and Kaluza , we 're helping our customers maximize the benefits of electric car ownership , both in terms of their day-to-day running costs and by reducing their energy carbon footprint .

Volvo Launches Smart Charging in App

Stellantis is a global automaker with a portfolio of brands. The company manufactures vehicles and provides mobility solutions, including electric and hydrogen fuel cell technologies, as well as autonomous driving features. Stellantis is focused on the industry's transition toward a carbon net zero future and offers financial services and vehicle leasing. It was founded in 2021 and is based in Hoofddorp, Netherlands.

Stellantis

Direct integration between Stellantis and Kaluza 's software eliminates the need for extra smart charging hardware .

Stellantis Partners with Kaluza for Smart EV Charging

Mitsubishi Corporation develops and operates businesses across various industries. The company provides services such as project development, production, and manufacturing in sectors including environmental energy, materials, urban development, mobility, food, and power solutions. Mitsubishi Corporation engages in business operations and project development with global partners. Mitsubishi was formerly known as Mitsubishi Shoji. It was founded in 1954 and is based in Tokyo, Japan.

Mitsubishi

OVO Energy ` s energy software company Kaluza and Mitsubishi Corporation have announced a new joint venture , Kaluza Japan , aimed at expanding their operations in Japan .

OVO’s Kaluza and Mitsubishi launch joint venture in Japan

AGL Energy is a company specializing in energy supply and solutions within the utilities sector. The company offers services including electricity and gas supply, internet and mobile communication services, solar energy products, and battery storage solutions. AGL Energy also provides charging plans for electric vehicles and energy efficiency programs. It was founded in 1837 and is based in Sydney, New South Wales.

AGL Energy

J.P. Morgan Cazenove

J.P. Morgan

Societe Generale Assurances

Societe Generale

Funding Date

Pre-Money Valuation

Post-Money Valuation

Amount Raised

Shares Authorized

Issuance Price

Dividend Rate

Liquidation Preferences

Liquidation Price

Participation

Conversion Price

Anti Dilution

General Voting

Board Voting

Par Value

Corporate Minority

Kaluza is an energy software company that focuses on the future of energy within the technology sector. Its main offerings include a cloud platform that transforms energy supplier operations, enhances customer engagement, and facilitates the integration of smart, low-carbon technologies. Kaluza primarily serves the energy industry, enabling suppliers to support the transition to a more flexible and decarbonized energy system. It was founded in 2009 and is based in London, United Kingdom.

Name	Work History	Title	Status
Stephen Fitzpatrick	J.P. Morgan Cazenove, J.P. Morgan, Societe Generale Assurances, and Societe Generale	Founder	Current
Subscribe to see more		Subscribe to see more	Subscribe to see more
Subscribe to see more	Subscribe to see more	Subscribe to see more	Subscribe to see more
Subscribe to see more	Subscribe to see more	Subscribe to see more	Subscribe to see more
Subscribe to see more	Subscribe to see more	Subscribe to see more	Subscribe to see more

Name	Stephen Fitzpatrick	Subscribe to see more	Subscribe to see more	Subscribe to see more	Subscribe to see more
Work History	J.P. Morgan Cazenove, J.P. Morgan, Societe Generale Assurances, and Societe Generale		Subscribe to see more	Subscribe to see more	Subscribe to see more
Title	Founder	Subscribe to see more	Subscribe to see more	Subscribe to see more	Subscribe to see more
Status	Current	Subscribe to see more	Subscribe to see more	Subscribe to see more	Subscribe to see more

How VCs Use CB Insights

Professional Services

Platform Overview

Kaluza

Executives

Kaluza Management Team

10 Team Members

Compare Kaluza to Competitors