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10th September 2020

Warwick-based sustainable energy consultancy secures MEIF investment

MEIF's latest investment will support Utility Stream Ltd as the company looks to recruit and progress new growth over the next few years.

Warwick-based energy consultancy Utility Stream has obtained a significant investment from the Midlands Engine Investment Fund (MEIF) Equity Finance Fund, managed by Birmingham venture capital firm Midven.

Utility Stream provides companies with simplified and sustainable energy solutions. The new funds will allow the firm to create a number of roles for business consultants and account managers in Warwickshire and nationally.

The firm was founded in 2018, with managing directors Naveed Qayyum and Mark Edwards sharing over 20 years of experience in the energy sector. In the short period of time that Utility Stream has been operating, it has developed a unique offering which provides businesses with a full end-to-end consultancy service which includes bespoke energy solutions - helping businesses save money and reduce their carbon footprint.

Mark Edwards, Director at Utility Stream, says: "Primarily, the investment will enable us to continue to develop our business across a range of markets and sectors. This is a very exciting partnership with Midven which has a proven track record in supporting fast-growing, high potential businesses. We're particularly looking forward to combining its experience in business growth with our considerable energy market expertise to create a strong brand presence."

Naveed Qayyum, Managing Director at Utility Stream, says: “This investment will propel the growth and development of Utility Stream. The funding, coupled with Midven’s support and knowledge, will support Utility Stream’s extremely ambitious growth plans. We’re looking forward to the journey that we are about to embark upon and the exciting opportunities that are in store for the company.”

Roger Wood, Midven Director and MEIF Principal, says: "Utility Stream represented an investment proposition that combined an experienced management team, high growth market and clear exit strategy due to significant sector consolidation. This made for a compelling proposition to support. We look forward to working with Mark and Nav over the coming years to make a great success of the business."

Ken Cooper, Managing Director at the British Business Bank, says: “It’s great to see that the MEIF has been able to continue supporting high-growth businesses in the Midlands. The fund provides vital investment that enables businesses like Utility Stream to take advantage of opportunities for growth. This investment demonstrates how this funding can make a real difference for innovative businesses and I’d encourage other SMEs across the region to consider the options available to them through the MEIF.”

Sarah Windrum, Board Director at the Coventry and Warwickshire Local Enterprise Partnership (CWLEP), says: “It is vital we provide as much support to all businesses as possible and particularly SMEs to make them aware of the financial opportunities which are available to help them grow. Utility Stream is a perfect example of that and we wish them well in their growth.”

The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

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Are you looking to secure business finance?

For information on what investment type is suited to your firm's needs, visit the @BritishBBank’s Business Finance Guide here: https://t.co/u5u3LyQcif https://t.co/LcHCDyt0kJ
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Stay up to date with the latest #MEIF investments and fund announcements by visiting our news page here: https://t.co/8KEIg61nsB https://t.co/UyLelZ6LAM MidsEngInv photo

Are you new to the @BritishBBank’s #MEIF? For clear information on the finance available through the Fund please visit our Quick Reference Guide here: https://t.co/SDilCE6y9Q https://t.co/cjEwnvR6n9 MidsEngInv photo

The #MEIF is now on LinkedIn. Follow us for the latest investment news, fund updates and information on securing external finance.

Connect here: https://t.co/mhwkGSoAcr https://t.co/VXP3Zc0pJ0
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#MEIF Small Business Loans are available for a wide range of purposes including filling gaps in growth capital, funding new projects or purchasing equipment.

Connect with our fund managers @B_C_R_S and @1st_Enterprise and access more information here: https://t.co/FMbFV547x6 https://t.co/hnbIVDvsgI
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Follow @midsenginv

Are you looking to secure business finance?

For information on what investment type is suited to your firm's needs, visit the @BritishBBank’s Business Finance Guide here: https://t.co/u5u3LyQcif https://t.co/LcHCDyt0kJ
MidsEngInv photo

Stay up to date with the latest #MEIF investments and fund announcements by visiting our news page here: https://t.co/8KEIg61nsB https://t.co/UyLelZ6LAM MidsEngInv photo

Are you new to the @BritishBBank’s #MEIF? For clear information on the finance available through the Fund please visit our Quick Reference Guide here: https://t.co/SDilCE6y9Q https://t.co/cjEwnvR6n9 MidsEngInv photo

The #MEIF is now on LinkedIn. Follow us for the latest investment news, fund updates and information on securing external finance.

Connect here: https://t.co/mhwkGSoAcr https://t.co/VXP3Zc0pJ0
MidsEngInv photo

#MEIF Small Business Loans are available for a wide range of purposes including filling gaps in growth capital, funding new projects or purchasing equipment.

Connect with our fund managers @B_C_R_S and @1st_Enterprise and access more information here: https://t.co/FMbFV547x6 https://t.co/hnbIVDvsgI
MidsEngInv photo

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