Centrica Innovations (CI) has announced its investment in EtaGen, a California based startup developing a Linear Generator that offers businesses affordable and flexible onsite power that's also reliable and clean. The investment comes alongside a consortium of other investors from around the world as part of EtaGen's $83m Series C financing.
Tim Wynn-Jones, head of distributed energy sales in the UK for Centrica, believes that British businesses ought to pay more attention to energy resiliency. The company recently produced research which found that four in five UK businesses had experienced power failure in the last year.
Research published by Centrica has identified the opportunity for key sectors in the UK economy to achieve almost Ã‚Â£1bn of savings on annual energy spend, while delivering an Ã‚Â£18.5bn boost to the country's overall economic growth.