London, UK - Nesta Impact Investments, part of the innovation agency Nesta, has announced an investment of £750,000 in the smart home heating business Mixergy.

Nesta’s investment in Mixergy is part of the firm’s latest £9.2m funding round to support a new R&D centre at its Oxfordshire headquarters. It marks a further development of their home energy and heat storage technology and international expansion. Mixergy is a spin out from the University of Oxford which develops smart hot water tanks, integrated heat pump tanks and home energy management systems that help reduce energy bills and lower household carbon emissions.

Nesta Impact Investments (NII), the most active impact fund in the UK since 2011, has invested in Mixergy as part of its strategy launched last year. NII is looking to invest £25m of its £50m fund directly in purpose-led early-stage startups over the next five years. Mixergy’s focus on reducing household gas consumption and consumer bills aligns with Nesta’s mission to create a sustainable future where the economy works for both people and the planet. Home heating is responsible for about 15% of the UK's total carbon emissions.

Lisa Barcley, executive director of investments at Nesta, said:

“Nesta Impact Investments has for a decade fostered the talent in new start-ups that help to solve social challenges and our support for Mixergy reflects the importance of innovation to reduce household carbon emissions.

“Alongside Nesta’s own research and campaigning work to help people reduce their household gas consumption, Mixergy’s forward-looking development of smart home heating technology holds the potential to reduce both emissions and people’s bills. We are looking forward to working closely with Mixergy as it expands its operation, contributing to the UK’s goals to reach net zero by 2050.”

Leo Chandler, Investment Manager at Nesta said: “We are delighted to support the Mixergy team in the next phase of their growth journey. Nesta’s goal is to accelerate the decarbonisation of households and we see Mixergy as an exciting and critical solution that can help deliver this.”

Notes to editors

1. For more information on Nesta Impact Investments, please contact Kieran Lowe, Media Manager, on 020 7438 2576 or at [email protected].
2. For more information on Mixergy, please contact Amy Moran, Head of Marketing, on 07743041334 or at [email protected].

About Nesta Impact Investments

Nesta Impact Investments provides financial, knowledge and network capital to innovative tech ventures that are changing the world for good. We look to back businesses in edtech, foodtech, healthtech, climate tech, the future of work and productivity, that are closely aligned to Nesta’s mission impact goals:

• A sustainable future: To accelerate the decarbonisation of UK households and raise productivity in ways that advance the transition to net zero. Our focus at the moment is on reducing domestic energy consumption via lower-carbon home heating. We are also looking at innovations that support the upskilling needed for a green economy.
• A healthy life: To increase the average number of healthy years lived in the UK, while narrowing health inequalities. Our focus at the moment is on reducing obesity. This includes new food tech, healthy brands and helping people access healthy foods, as well as behavioural and health tech that's relevant. We do not invest in drug development.
• A fairer start: To narrow the education outcome gap between children growing up in disadvantage and the national average. Our main focus at the moment is on early years and closing the school readiness gap. We look for solutions that deliver high-quality, affordable provision and workforce development. We are also looking at financial inclusion solutions which can reduce stress on families who can then better support the home learning environment.

About Nesta

We are Nesta, the UK's innovation agency for social good. We design, test and scale solutions to society's biggest problems. Our three missions are to give every child a fair start, help people live healthy lives, and create a sustainable future where the economy works for both people and the planet.

For over 20 years, we have worked to support, encourage and inspire innovation. We work in three roles: as an innovation partner working with frontline organisations to design and test new solutions, as a venture builder supporting new and early stage businesses, and as a system shaper creating the conditions for innovation.

Harnessing the rigour of science and the creativity of design, we work relentlessly to change millions of lives for the better. Find out more at nesta.org.uk