Wednesday 17 April 2019

Smart meter financing firm Calvin Capital to buy Lowri Beck

Smart meter financing company Calvin Capital has agreed to buy Lowri Beck, which provides meter reading and data collection services.

Calvin Capital finances smart meter installations on behalf of energy suppliers as part of the rollout of the technology and the development of a digital energy infrastructure.

The company owns more than 7.3 million installed meter assets.

Lowri Beck currently installs and exchanges more than 300,000 domestic meters a year and collects data from an additional five million meters – it will continue to operate independently, serving both small and large suppliers.

Calvin Capital says the agreement will enable the creation of an end-to-end market offering, comprising the installation, servicing, managing and funding of domestic metering assets.

It also provides a platform for future funding, deployment and management of a wider range of energy assets, including battery storage and charging infrastructure for electric vehicles (EVs).

Bert Piljs, CEO of Calvin Capital said: “This is a very positive development for two complementary businesses and for the wider energy market.

“Bringing together Calvin with Lowri Beck will enable us to create a ‘one-stop-shop’ offering that will be available to all energy suppliers and new market entrants through a broader array of services, ranging from full metering-as-a-service to bespoke installation, servicing or funding solutions. In addition, Lowri Beck’s expertise will help Calvin to accelerate the development of a sustainable digital energy infrastructure beyond smart meters.”