Osaka Gas UK Ltd has agreed a £20m investment to support the high-speed growth of energy supplier Igloo Energy.
Legal firm Burges Salmon advised the Japanese global integrated utility firm on the strategic investment supporting Igloo’s energy-saving work.
The investment will be used to accelerate the company’s Igloo Works, which aims to reduce how much energy customers use at home.
Founded in 2017, Southampton-based Igloo disrupts the traditional energy supply model with its proposition to help customers use less energy by utilising smart home technology to monitor consumption and deliver personalised and easy-to-understand energy efficiency recommendations.
It now supplies more than 85,000 residential customers across the UK.
This year, Igloo Works was launched as a home services marketplace providing UK residences with smart thermostats and hybrid heating technology solutions, specially tailored to meet the specific requirements of individual homes.
Osaka Gas serves more than six million residential and C&I customers in Japan and is one of the leading installers of domestic combined heat and power boilers.
The company boasts significant experience in rolling out alternative heating technology at scale and the strategic partnership will be invaluable to Igloo in achieving its ambitions in the UK.
Kenji Oida, Management Director of Osaka Gas UK Ltd, said: “We are very grateful for the UK energy legal guidance provided by the specialist lawyers at Burges Salmon who helped us steer this strategic investment to a conclusion.”
The Burges Salmon team advising Osaka Gas was led by partners Camilla Usher-Clark and Ross Fairley, with associate Danny Perera and senior associate Alec Whiter.
Usher-Clark said: “We are delighted to have advised Osaka Gas on its strategic investment in Igloo Energy.
“Igloo is committed to helping customers move away from fossil fuels, which is critical in reducing the impact of climate change.
“The partnership with Osaka Gas is an important step to Igloo achieving its strategic vision through the provision of demand-side energy flexibility.”