PRESS RELEASE
Impact Investment Group has backed Australian start-up nu-tility, becoming a major shareholder in Australia’s first fully integrated energy solutions provider.
nu-tility provides bespoke energy efficiency and cost saving solutions that can drastically reduce capital and operational costs for landlords and tenants in healthcare, education, industrial and commercial property. nu-tility also works on energy solutions for transport infrastructure. It was co-founded in 2014 by Daniel Barber and Toby Greenane.
The founders favour an integrated approach to reviewing and upgrading clients’ energy systems. They combine technologies, products and services, including energy audits, lighting upgrades, energy storage, and solar panel installations, helping clients reduce and manage their energy needs. However, if it does not suit clients to integrate products and services, they can buy the company’s products and services as individual modules. The products and services can be applied to new or existing businesses and projects. As an agnostic supplier, nu-tility offers the best quality, fit for purpose solutions.
nu-tility’s business model can also be adapted to clients’ needs. nu-tility provides an upfront service to audit and plan how to improve clients’ energy systems. Clients can then choose a straight cash purchase, asset finance, or – in situations where they may not want the asset liability on their books – sign a Power Purchase Agreement (PPA) with nu-tility who will install and own the electricity-generating assets, then sell power to the client at a predictable cost.
Impact Investment Group CEO Chris Lock said “nu-tility is a disrupter of the local real estate energy efficiency market. nu-tility has a national footprint, working across all aspects of energy efficiency and are effectively a one-stop-shop for any landlord or tenant looking to drive down building costs and emissions. When we upgraded our Quicksilver distribution facility in Geelong, our experience with nu-tility was seamless and highly cost-competitive, so it is a no-brainer for us to partner with this fantastic new company by providing them access to our entire real estate portfolio. We are very excited to be both a client and a cornerstone shareholder of nu-tility.”
nu-tility co-founder, Daniel Barber said of the investment, “IIG is a highly sophisticated investor in the renewables space. The capital injection provided by them enables nu-tility to rapidly increase deployment and add diversity to our offering. Together, we’re excited about changing the landscape of how Australian businesses manage energy consumption.”
Who is IIG?
IIG is a leading impact investment funds manager and co-investor with over $400 million in funds under management across property, renewable infrastructure and venture capital directed to businesses that share IIG’s values. IIG’s mission is to shift capital towards investments that blend financial returns with deep social and environmental impact. Since establishment in early 2013, IIG has successfully arranged and co-invested in 15 investment syndicates.
IIG is owned by Chris Lock (Chief Executive Officer) and Small Giants, the family office of Daniel Almagor and Berry Liberman. IIG is an active and ethical manager that benchmarks its fees to the long term performance of its assets.
IIG is a certified B Corporation and a member of the Responsible Investment Association Australasia.
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