Smart energy company acquires consumer energy specialist
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Chameleon Technology, leading smart energy technology company, today announces the strategic acquisition of GenGame, specialists in consumer energy technology and app development.
The deal signals the next milestone in the Harrogate-based company’s ambitious plans to provide consumers with a platform for intelligent, optimised control over their home energy system, which will be a crucial element of everyone’s personal journey to net zero.
The acquisition represents an acceleration of Chameleon’s roadmap, bringing enhanced capability to deliver value to consumers through enabling low carbon technologies that are driven by real-time energy data insights. With both companies share the same vision for the future of energy management in the home – where decarbonised, connected elements are optimised around personal preferences and desired outcomes in terms of comfort, security, green credentials and cost.
Mike Woodhall, CEO, Chameleon Technology, said: “Acquiring GenGame is a timely strategic move to further advance our product roadmap. Our focus is on enabling all consumers to understand and reduce both their energy consumption and carbon emissions. With this acquisition we gain another means of empowering those consumers and the ability to put the data needed to help them on their personal journey to net zero in their hands. We are aiming to make the management of home energy smarter, simpler, greener and more personalised. GenGame’s experience in delivering applications that demystify some of the complexity of the energy system is going to be a big part of this. The acquisition is well-timed to leverage and support the transformation of the energy industry and will cement our position as a leader in smart home energy management.”
GenGame, who work with utility companies including Ecotricity, Green Energy UK and So Energy, will become a wholly-owned subsidiary of Chameleon Technology and will exist as an ongoing entity. GenGame will continue to be based in Leicester and all of the staff will remain in place with Stehane Lee-Favier continuing as managing director, while joining the Chameleon Technology operations board to provide strategic input into future technology developments.
Stephane Lee-Favier, managing director, GenGame, says: “It is great to be joining the Chameleon Technology group, and at a very exciting time for the future of energy. We are looking forward to scaling and commercialising what we have built and driving a consumer-led, low-carbon offering together. Both of our companies’ missions are totally aligned in allowing the consumer to see value in changing their home energy behaviour, and this makes it an ideal opportunity for GenGame.”
Legal advice and due diligence provided to Chameleon Technology by Clarion Solicitors, led by Hitesh Taylor, with tax and structuring advice provided by Ryecroft Glenton, led by Simon Whiteside.
Legal advice to GenGame Ltd provided by Austin Moore & Partners, led by Louise Firth.