Energy Drive secures $27M investment

The investment from The Pears Family will support the company’s continued international expansion.

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Energy Drive Systems, an English subsidiary of Apogee Sustainability Ltd. and a provider of zero-capex energy efficiency for large motors in the mining, metals and utilities industries, has secured a strategic growth investment from The Pears family, a financing and real estate group based in London.

According to Energy Drive, the investment of more than $27 million recognizes the significant increase in value attributed to its regional expansion and provides investment capacity from an international investor. The investment reflects the continued expansion of the business from its origins in South Africa into North America and Europe.

"I am excited to welcome Pears as an investment partner for Energy Drive. We share an ambition and long-term approach, committed to realizing this significant growth opportunity," Apogee CEO James Hynd says. “Our service reduces energy opex of key systems, with no initial capital investment required. We see an increasing demand across the globe for these services as energy-intensive companies seek to reduce costs and cut emissions.”

Energy Drive deploys intelligent motor control via e-houses powered by proprietary technology, engineering expertise and data to optimize the performance of industrial-scale motors. Energy Drive says its e-houses automatically optimize a motor’s energy use while meeting operational and safety requirements, reducing energy consumption of motors by 43 percent on average.

The company installs and operates e-houses as a service, requiring no capital expenditure or ongoing maintenance cost for the operator while delivering both operating cost savings and carbon abatement, according to Energy Drive.

With the support of The Pears Family and Pears Partnership Capital, Energy Drive says will accelerate its international expansion and development in new heavy industry sectors.

"We have built a great relationship with the team at Energy Drive and have been very impressed with the business," says Joe Evans, managing director at Pears Partnership Capital. "We are delighted to be able to support Energy Drive in the next stage of its growth and see significant market opportunity globally.”