Green energy firms E.quinox and VPhase have won a share of £125M investment as part of GE’s “ecomagination challenge”.
E.quinox, a solar power start-up that brings renewable energy to parts of Africa, and VPhase, which helps householders save 10% on their electricity, are the only recipients of the investment that are not based in the US.
Both companies will, in addition to the investment, also be assisted by GE and Best Buy to bring their services to the wider market.
E.quinox is based in Imperial College London and operates a student-run humanitarian project that will bring cost-effective solar energy to rural communities in Rwanda. It is one of five Innovation Award winners, which will each receive a £62,500 grant to further develop their technology.
VPhase, based in Manchester, produces home energy control devices that provide a voltage solution which enables customers to reduce their electricity bills without changing their lifestyles. It was one of 10 winners in the second phase of the challenge.