Warwick-based energy consultancy and Pentlands client Utility Stream has secured investment as it launches a major recruitment drive.
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.
The company provides businesses with consultancy services which includes bespoke energy solutions to help firms save money and reduce their carbon footprint.
The funding was provided by the Midlands Engine Investment Fund (MEIF) Equity Finance Fund, managed by Birmingham venture capital firm Midven.
Mark Edwards, director at Utility Stream, said: “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, added: “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.”
James and the Pentlands Team would like to congratulate Nav and Mark on their investment, it has been a pleasure supporting them on their journey so far and we look forward to being along-side them in the next stage of their growth.