News and Press Releases
Innovative New Energy Management Company Launched
18th November 2008
Navetas Energy Management Ltd, a new, innovative global energy management company, was launched today. The Company will be developing and implementing new ways to help business and consumers manage their energy consumption in this age of high energy prices and increased environmental concerns.
The company was established by its two founder directors Chris Saunders and Chris Shelley who have recognised the increased global importance of energy management. Navetas will focus on the UK energy market. However, both founders have significant experience working on leading international energy projects, thereby providing a unique perspective on global strategies, investment and solutions being deployed in the field of energy management. The Company Chairman will be Mike Mannering, who also has many years of experience in the UK and international energy markets.
Navetas has also been provided with significant investment from two major venture capital partners – Swarraton Partners and Naxos Private Equity - who combine substantial financial resources with significant expertise in the energy sector.
One of the first things that Navetas intends to do is use the investment from Swarraton and Naxos to fund acquisitions, particularly in the area of smart metering technology in which the company has a long standing interest. Managing Director, Chris Saunders, said:
“To deliver energy management in the future, it is essential first to measure energy consumption accurately and provide business and consumers with the ability to understand their energy use at any given time. Smart Meters have the potential to offer benefits to energy users, energy suppliers and energy generators, such as accurate billing, greater efficiency and a reduction in carbon emissions for businesses and domestic customers, but they need to be deployed and used effectively to ensure that these benefits are realised.
Navetas not only understands the technology required for smart metering, but also the commercial requirements that must be fulfilled for a smart meter deployment to be successful, particularly in the UK de-regulated utility market. With the experience and resources available at Navetas, we believe we have a huge opportunity to become a market leader in this field over the next few years.”
Stephen Brooke of Swarraton Partners said:
“Swarraton Partners were keen to invest in Navetas because we have been deeply impressed with the knowledge and experience of the energy management industry provided by the company’s senior management and the innovative ideas put forward by them that will be beneficial to business and consumers. We are looking forward to a long and fruitful relationship with Navetas.”
Notes to Editors:
As well as developing smart meter technology, Navetas will also be looking to provide investment in small to medium sized companies in the UK energy management market, provide consultancy expertise, support existing partner companies with integrated energy management services and help develop technology in this area.
Mike Mannering who will be Chairman of the Board at Navetas has over 30 years experience in the energy industry. In the early part of his career Mike worked for Shell International before joining Schlumberger in 1985. Mike was appointed Chairman of Schlumberger companies UK in 2001. Mike is currently President of Rig Management at Schlumberger with responsibility for the Schlumberger fleet of drilling rigs.
Chris Saunders and Chris Shelley have over 28 years combined experience in Energy Management having both worked as senior executives for Actaris Metering Systems an Itron Group Company, formerly Schlumberger, the global leader in design, manufacture and supply of electricity, gas, water and heat meters and related systems and services.
For further information please call Nick Wellington on 07989 176964 or email nick.wellington@navetas.com. You can also visit our website at www.navetas.com.
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