The expansion of the UK-based company into the US will be led by Graeme Cooper, who has enjoyed a storied career in the disruptive industries of telecoms and energy, and is supported by investors including leading European investment group Eurazeo.
UrbanChain's tech creates local clean energy markets to connect buyers and sellers.
“I find it incredibly exciting to have been given this opportunity by UrbanChain founders Somayeh Taheri and Mo Hajhahsem” said Mr Cooper. “UrbanChain's journey over the past several years is unique and has seen them demonstrate innovation that actively enhances the energy transition time and time again. Our rollout into the US will first focus on California, Texas and New England. We are exploring and looking to pioneer in a country that is energy hungry, has great complexity of size, diversity of thought and one which has multiple energy markets within it. “This US expansion is undoubtedly the greatest opportunity for UrbanChain to grow and scale at pace.”
Eurazeo became UrbanChain's major shareholder last year with the company having also received significant backing from the Department for Energy Security & Net Zero and Innovate UK.
UrbanChain's marketplace matches generators of renewable energy and consumers on a half hourly basis. These include private companies, office buildings, industrial sites, local government organizations, hospitals and many more.
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