Tuesday 10 September 2019

Maximeyes buys ‘significant stake’ in UK battery storage company

The Maximeyes Group has bought what it says is a “significant stake” in UK battery storage company Puredrive Energy.

The latter firm is developing a software aimed at unlocking greater revenue for home batteries by using machine learning to predict household load and generation.

It intends to use software to import and export “at best prices” as well as earn money by providing frequency services to the electricity system operator.

Puredrive Energy has also developed the PureStorage community, where households can come together and aggregate their power capacity as part of a virtual power plant, creating shared benefits and revenues.

Shamir Jiwa, CEO and Founder of The Maximeyes Group, said: “Puredrive Energy really is at the forefront of innovation in energy. The team have and continue to create the smartest storage system in the market, regardless of where and how energy is generated, we know that it will need to be stored. Just look at how battery technology has revolutionised the telecoms industry by enabling mobile phones, we are now at the genesis of the next generation storage revolution for households.

“It is our belief that smart battery systems will be as prevalent as double glazing in the next 10 years, and we are positioning ourselves in a sector where we can build a leading global brand starting in the UK.”