SGM.L Regulatory News (SGM)

31 Mar 2008 10:04

Sigma Capital Group PLC31 March 2008 SGM SIGMA CAPITAL GROUP PLC ("Sigma") Announces £2 million investment in Onzo Limited Sigma, the specialist asset manager, is delighted to announce that itssustainable energy venture capital fund, the Sigma Sustainable Energy Fund II,has partnered with Scottish and Southern Energy plc ("SSE") to invest a combined£2 million in Onzo Limited ("Onzo"). Onzo is a new company, which enables energycustomers to reduce their energy consumption. The Sigma Sustainable Energy FundII and SSE have invested £1 million each in Onzo, giving both a 24.5% stake inthe business. In addition, SSE has placed initial orders worth over £7 million with Onzo forthe company's energy display products and specialist data services. As part ofthis major order, SSE has secured exclusive rights to Onzo's products andservices covering the UK and Ireland. Based in London, Onzo is a new company whose purpose is to empower people to"live lighter and smarter" in terms of their energy consumption. Onzospecialises in energy visualization technologies across all customer touchpoints and offers energy monitoring equipment and related services through billsand the internet. Onzo partners with energy suppliers to create stronger two-wayrelationships between suppliers and energy users. This helps to increasecustomer attraction and retention, minimise cost to serve, and increase revenueper customer. Onzo will be launching its innovative energy display products later this year.With increasing awareness on the part of consumers of both the economic cost andthe CO2 impact of energy consumption, Onzo is expecting widespread consumerinterest. Onzo believes that its energy display products can help save consumersaround a quarter of their home energy consumption. This is the second investment made by Sigma Sustainable Energy Fund II. InOctober 2007, the fund invested in marine energy company, Aquamarine PowerLimited, which is developing tidal and wave energy conversion technologies. Mark Hogarth, who is Investment Director of Sigma and who has joined the boardof Onzo as a Non-executive Director, said, "This is a very exciting investment for us and we are delighted to beco-investors in Onzo with Scottish and Southern Energy plc. We think Onzo hasdeveloped an innovative and commercially focused concept which has hugepotential and stands out from other companies in this space. Consumers are now much more sensitive to 'green' issues and, at the same time,people are keen to reduce their energy bills. This means that Onzo's productshave a double appeal. Onzo has a great team, with great ideas and we lookforward to working with them, alongside SSE, on the next phase of the company's development. We have two funds dedicated to investment in clean energy and energy efficiencyand are pleased to have identified this opportunity for the Sigma SustainableEnergy Fund II. Investors in this fund include Scottish and Southern Energy,Bank of Scotland Corporate, Sir Tom Hunter's West Coast Capital, Elsina Limited(a vehicle advised by Vincent Tchenguiz's Consensus Business Group) and SigmaTechnology Investments Limited." David Gardner, Head of Ventures at SSE, said, "Energy customers have a growing expectation that their supplier will providenew ways to help them reduce their energy consumption, and in the future, thiscould become an important service differentiator. This partnership with Onzowill give SSE access to leading-edge technologies that will help us provide anew level of support to customers who want to reduce their energy consumption. "Until now the SSE ventures team have focused on investments relating toalternative energy sources. This deal, which is a great example of ourpartnership with Sigma, demonstrates that SSE is prepared to invest in anystrong proposition that directly supports our strategic aim of ensuring that SSEplays a major part in the long-term transformation of the production andconsumption of energy." Joel Hagan, Chief Executive of Onzo, said, "Onzo is delighted to be working with SSE to make our products and servicesavailable to consumers in the UK and Ireland. In SSE, we found a partner whowas excited about the full range of what we can offer. Sigma Capital Grouphelped bring the deal together and their support has been critical throughoutthe process. This deal is recognition that Onzo leads the way in this arena." Enquiries Sigma Capital Group plc Mark Hogarth, Investment Director T: 0131 220 9444 Graham Barnet, Chief Executive Biddicks Katie Tzouliadis T: 020 7448 1000 About Sigma Capital Group plc Company website: www.sigmacapital.co.uk Founded in 1997 and based in Edinburgh, Sigma Capital Group plc is anAIM-quoted, specialist asset management and advisory group. Sigma focuses onspecialist fund management, commercialisation of University IP and propertyinvestment. Sigma now manages (and is an investor) in four funds, the Sigma TechnologyVenture Fund, the Sigma Innovation Fund (East of Scotland), the SigmaSustainable Energies Fund and the Sigma Sustainable Energy Fund II. Sigma Sustainable Energy Fund II Launched in June 2007, the Sigma Sustainable Energy Fund II ("SSEF II") isSigma's second private equity fund dedicated to identifying suitable investmentsin the sustainable energy sector. It seeks investment opportunities in cleanenergy and energy efficiency in both the UK and Europe. The SSEF II currently stands at £45m, following two closings and remains open tonew investors. Investors so far include Scottish and Southern Energy, Bank ofScotland Corporate, Sir Tom Hunter's West Coast Capital and Elsina Limited (avehicle advised by Vincent Tchenguiz's Consensus Business Group). This information is provided by RNS The company news service from the London Stock Exchange