Welsh tech firm RUMM acquired by RWE npower01 Apr 2015
RWE npower announced the acquisition of specialist energy management company RUMM in a move that could help British business save up to £4 billion on their annual energy bills. The Welsh tech firm, which was spun out of the University of South Wales, uses the latest innovations in cloud-based data analytics to help businesses monitor and control their energy in real time.
Since its inception in 2005, RUMM has already saved over £43 million for its customers. npower Business Solutions, which is the second largest supplier of energy to British businesses, will roll out RUMM’s software to its biggest customers in Q2 2015, with the goal of delivering energy efficiency at scale.
With the UK’s industrial and commercial sectors spending £20 billion a year on electricity and gas, npower Business Solutions has shown that increasing energy efficiency by 20% could represent a collective saving of around £4 billion annually to British business.
Paul Massara, CEO of RWE npower, said: “npower Business Solutions is committed to helping the UK’s largest companies manage their energy needs so they can budget for the future. RUMM’s technology is truly innovative, giving businesses the tools they need to make significant savings on the bottom line.
“This deal represents an important investment in both our energy solutions business and the thriving South Wales tech community. With the right support and incentives, we are confident that Welsh start-ups, like RUMM, will continue to grow, exporting their expertise across the world.”
Dr Stephen Lloyd, Chairman and co-founder of RUMM, said: “Being part of RWE npower represents a huge opportunity for RUMM. npower Business Solutions wants to provide the best possible energy management for its customers and RUMM has the capability to help deliver this. We spoke to a number of energy suppliers, but the way the team at npower want to bring innovation to their customers proved decisive.”
Jamie Watkins, Co-founder and Director of Sales at RUMM, added: “This is a proud day for everyone at RUMM. We’ve continued to invest in the development of our “best in class” software, while waving the flag for Welsh entrepreneurship. We are excited at the prospect of working with npower Business Solutions to help some of the UK’s biggest companies cut energy, cost and carbon.”
Developed as the result of work at the University of South Wales RUMM’s proprietary software, IBASS, captures and stores energy usage data every half-hour to identify potential inefficiencies on customers’ sites. The software provides the basis to enable significant energy reduction and has the capability to offer switch-off measures. RUMM’S software is integral to its behavioural approach to energy management which is a unique aspect of its offering.