Fuse Energy

Fuse Energy operates as a full-stack renewable energy supplier with a mission to accelerate the transition to sustainable power sources. The company was co-founded in 2023 by Alan Chang, former COO of Revolut, and Charles Orr, who previously led strategy at the UK's largest energy supplier, Ovo. Their combined expertise in high-growth technology ventures and the intricacies of the energy market underpins Fuse's strategic direction.

The firm has secured significant financial backing, raising $78 million in a seed funding round co-led by Balderton Capital and Lakestar, with participation from other notable investors including Accel and Creandum. This capital is intended to fuel the company's expansion and technological development. Initially, Fuse has launched its services in the UK, focusing on providing households with energy tariffs that are designed to be more affordable by leveraging software to optimize energy procurement. The core of its business model involves purchasing energy from wholesale markets at lower costs, often during off-peak times, and passing those savings on to consumers.

Fuse Energy's primary offering is a variable-rate energy tariff called 'Fuse', which aims to provide rates consistently below the UK's energy price cap. A key product feature is a mobile application that allows customers to monitor their real-time energy consumption and costs, providing transparency and control over their usage. By doing so, the company empowers consumers to make more informed decisions, such as using high-consumption appliances during periods when energy prices are lower. The long-term vision for the company includes expanding its product suite to encompass a variety of clean energy technologies, positioning itself as a comprehensive provider in the evolving energy landscape.

Keywords: renewable energy supplier, energy tariff, smart meter, energy consumption, power trading, cleantech, energy software, household energy, wholesale energy, variable-rate tariff