South Africa: Energy Drive lands investment from Pears Partnership Capital
Energy Drive has secured an investment of more than £20 million.
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South Africa-based Energy Drive, a provider of energy efficiency solutions for large motors in the mining and metals industry, has secured an investment of more than £20 million from the Pears family.
The company has expanded into North America and Europe, from its origins in South Africa.
Energy Drive uses E-Houses equipped with proprietary technology and engineering expertise to optimise energy use in industrial-scale motors. These systems automatically adjust a motor’s energy consumption while meeting operational and safety requirements, delivering an average energy reduction of 43%. Energy Drive’s E-Houses are offered as a service, eliminating the need for capital expenditure or ongoing maintenance by operators.
UK-based Pears Partnership Capital acts as an advisor to the Pears family in originating, arranging and overseeing direct private equity investments in operating businesses.
With backing from the Pears family and Pears Partnership Capital, Energy Drive plans to accelerate its international expansion and entry into new heavy industry sectors.
Joe Evans, managing director at Pears Partnership Capital, said: “We have built a great relationship with the team at Energy Drive and have been very impressed with the business. We are delighted to be able to support Energy Drive in the next stage of its growth and see significant market opportunity globally.”
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