“Stability in the European energy market is of the utmost importance and that will come through clean smart energy solutions,” says Dr Somayeh Taheri, UrbanChain CEO
The UK’s leading provider of peer-to-peer energy services has set out its plan to acquire European businesses ahead of a planned IPO within the next five years.
UrbanChain, backed by global investment firm Eurazeo, is on course to turn over £22 million over the next 12 months.
CEO Somayeh Taheri said the company she founded intends to appoint a broker to find acquisition targets on its behalf.
“Our plan to scale in Europe involves acquisitions and partnerships,” she said.
“Europe has been facing an energy crisis for too long, from the reduction of Russian supply and high volatile wholesale prices bringing severe consequences to consumers and businesses.
“Stability in the European energy market is of the utmost importance and that will come through clean smart energy solutions.”
She added: “We will be looking for companies with strong fundamentals and management teams, particularly in Ireland, Spain, France, Switzerland and Portugal.
“Once we have established ourselves in Europe we will look to strengthen our existing relationships in North America as we have total confidence that UrbaChain is the future of electricity markets. The growth opportunities for renewable energy are major and while we will acquire, we won’t ourselves be acquired.”
Eurazeo became UrbanChain’s major shareholder earlier in 2023. The Manchester-based company has also received investment from the Department for Energy Security & Net Zero and Innovate UK.
Its peer-to-peer energy exchange platform is growing rapidly in stature by enabling companies from the private sector, generators of renewable energy and organisations in the public sector to build their own 100% green and localised energy markets.
“Our AI and blockchain driven platform matches the best renewable energy generators to consumers of energy on a half hourly basis,” said Somayeh.
“Anyone who takes part wins. Cheaper energy bills, higher margins and net zero are just three headline benefits.
“As our growth continues we expect to list on London’s Alternative Investment Market in five years’ time and have already spoken to legal experts about the process.
“We may also undertake a Series B round prior to listing as it would enable UrbanChain to once again upgrade our hardware technology.”
Dr. Somayeh Taheri (photo below) is an Energy Transition Expert and is available for media commentary on anything ranging from; Tech’s ability to solve energy crisis; The future of energy provision; New forms of energy supply
Age: 39
Born: Shiraz, Iran
Lives: Manchester, England
CEO: UrbanChain
No.1: Global expert in peer-to-peer energy exchange
And: Local energy markets
Creator: Decentralised renewable energy markets
Advisor: Ofgem
For more information contact alex@bellpress.co.uk
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