Swindon-based power management company Power Oasis has secured £4.5m of funding from YFM Equity Partners to help accelerate its ambitious plans in the $3bn power solutions and Smart Grid market.

The company started life in the SETsquared Innovation Centre in Bath developing an innovative wireless network power management platform that remotely monitors, controls and manages the supply of power to base stations sites that lack a reliable electricity grid in the Middle East and Africa and where diesel generators have historically been the primary power source.

“Our energy storage solutions cut diesel consumption by at least 50% and further reduce power operating expenses by integrating our solar and wind components,” said John O’Donohue, CEO. “Our wireless network power management technology is available at the right time to help mobile telecom operators reduce power costs, lower carbon emissions, increase site uptime and improve the operational and business management of power while delivering a return on investment in 18 months or less”.

YFM Equity Partners through three of their managed funds – Chandos Fund and British Smaller Companies VCTs are joining existing investors including Oxford Capital Partners, MTI Partners, OCP Angels and a number of private investors in an all equity finance deal.

“We have closely followedPowerOasis from 2008 when it was co-founded by Pete Bishop, previously R&D Engineering Manager for Motorola, supported by SETsquared in the University of Bath Innovation Centre,” said Julian Dennard, Investment Director at YFM Equity Partners. “To my mind it has now grown and developed to be one of Britain’s finest small companies and we are delighted that it has now reached the stage where YFM Equity Partners’ funds can help to accelerate its growth. We look forward to building our relationship with the management team as it transforms the way mobile telecom operators utilise power in both developing and developed markets.”

The investment will primarily be used for accelerating sales and product development as the company is already an energy partner for two of the World’s largest network equipment providers and some of the World’s largest mobile telecom operators, which use PowerOasis technology to reduce the operating cost of power while dramatically improving network availability.

Its SmartHub  adds Smart Grid capability to its portfolio and the company has also introduced a next generation Power OSS platform which gives total network power visibility at the network operations centre.

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