Mixergy: The forefront of smart hot water solutions and grid optimisation
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At a glance
COMPANY
Mixergy
SECTOR
Cleantech
COUNTRY
United Kingdom
WEBSITE
https://www.mixergy.co.uk/
Mixergy is at the forefront of smart hot water solutions and grid optimisation with its sustainable technology solutions which provide the best interaction between homes and the grid to save carbon, reduce costs and maximise comfort.
Since its inception over a decade ago, the company has gone from strength to strength and in March 2025 Mixergy announced the completion of a £12m Series C funding round to drive its transition towards a technology licensing and strategic partnership model, focusing on new builds, social housing retrofits, and commercial properties.
Idea.
Mixergy was founded in 2014 at Oxford University when Pete Armstrong and Ren Kang conceived the original Mixergy cylinder with a vision to drive the clean energy transition. By developing a network of smart hot water cylinders, the company set out to provide grid flexibility - paving the way for greater integration of renewable energy.
Nurture.
IP Group saw the potential in Mixergy early, leading the first round in 2016, alongside Oxford Science Enterprises and the University of Oxford to help fund continued development of its smart and connected hot water cylinders.
IP Group has since taken part in three further funding rounds: a £3.6m Series A in 2019; a £9.2m Series B in 2023 (through its Kiko Ventures cleantech platform) and most recently, a £12m Series C, led by Barclays Climate Ventures.
The Group has played a pivotal role in Mixergy’s growth, bringing in the Chair and C-suite talent, securing additional investors, and supporting negotiations on critical commercial and licensing deals with IP Group Investment Director, Ben Murphy, serving on Mixergy’s Board.
'Having IP Group on board with Ben Murphy from the outset has been instrumental to Mixergy’s success. Having a venture fund on board which takes the long view on climate tech, irrespective of short-term market conditions, has been invaluable. The support we’ve had since the beginning, whether through strategic input, intros to their wider funding network or simply a source of morale during times good and bad, has been unparalleled.'
Pete Armstrong, CEO / CTO, Mixergy
Impact.
Today, Mixergy is a leading innovator in smart hot water storage and home energy solutions with notable partnerships with companies including British Gas, The Electric Heating Company, Cala Homes and Birimingham City Council.
The Company has seen rapid revenue growth, with revenues doubling year on year repeatedly. As electrification accelerates, increasing numbers of homes will require a hot water cylinder.
Mixergy’s smart technology transforms these cylinders into intelligent, connected energy storage devices that help balance the grid while reducing household carbon emissions.
'The company’s technology is certified as the best performing available on the UK market and has knocked competitors out of the water in third party test results that we have seen.'
Ben Murphy, Investment Director
Ben Murphy
Investment Director
These solutions are helping buildings in new build, social housing and commercial to save on bills, make healthier homes and meet carbon reduction targets.
One example of this groundbreaking work in action is Mixergy’s partnership with Birmingham City Council, together they advanced ‘heat-what-you-need’ water cylinders across the city’s housing stock. This resulted in £286,745 saved on energy bills, 328,587 kWh in energy savings, and a carbon emission reduction of 172.04 tonnes in just two years1.
To learn more about Mixergy’s technology and why we backed it, click here.
1 Data is compared between Mixergy systems and traditional cylinders.