University spinout energy-saving company RUMM has been acquired by UK energy supplier RWE npower.
RWE Npower, a UK-based energy supplier, has acquired South Wales University spinout Rumm for an undisclosed amount.
Rumm uses analytical systems to allow companies in the manufacturing and utility sectors to make savings on their energy usage. RWE believes, with their help, RUMM’s system could save British businesses up to $4bn ($5.9bn) on their annual energy bills.
Paul Massara, chief executive of RWE npower, said: “Rumm’s technology is truly innovative, giving businesses the tools they need to make significant savings on the bottom line. This deal represents an important investment in both our energy solutions business and the thriving South Wales tech community.”
Since it was established in 2005, Rumm has saved over £43m for its customers. Its software captures a business’s energy usage information every half an hour to identify trends and potential efficiency savings.
Stephen Lloyd, chairman and co-founder of Rumm, said: “Being part of RWE npower represents a huge opportunity for RUMM. npower Business Solutions wants to provide the best possible energy management for its customers and Rumm has the capability to help deliver this.”
The South Wales University was formerly known as Glamorgan University.
