MTI Leads £1.15m Investment Round in PowerOasis

1 May 2010

MTI Partners has announced the investment of £650,000 from its UMIP Premier Fund (UPF) as part of a £1.15m investment round in Swindon based, intelligent telecoms power solutions provider, PowerOasis.

The investment further reinforces MTI’s commitment to its core materials/engineering sector approach to the Cleantech market opportunity, and continues to build out the UPF investment portfolio. Co-investors at this round included continued support from the company’s existing investor base.

PowerOasis innovative solutions assists telecoms base station operators reduce their power OPEX in both the current install base and on new sites. The company has recently seen significant growth in demand for solutions in networks located in areas which are not connected to reliable grids, such as areas of India, Africa and Asia Pacific, to reduce fuel consumption. Such base stations have traditionally been significant users of diesel as a source of power, as they require high operational performance despite the lack of a reliable power source.

PowerOasis delivers lower operational expenditure to these base stations by allowing diesel generators to be intelligently supplemented or replaced with renewable energy when required, this can mean at least a 50% reduction in diesel use, making both a significant financial and environmental saving.

The PowerOasis investment news comes hot on the heels MTI having made one of the biggest venture capital exits ever seen in the UK, following the trade sale of Orthobiologics company ApaTech to healthcare giant Baxter Inc for a total consideration of up to $330m.

Nick Smailes, CEO of PowerOasis, said: "PowerOasis is very pleased with the investment from MTI, it enables us to scale up our operations to meet the significant growth in demand for our telecoms networks power optimisation products and services, and accelerate into this multi-billion dollar market"

David Ward, Managing Partner at MTI, said: "It’s very exciting to be making this investment in PowerOasis at such a crucial time in the company’s development. The size and potential of this market is immense, as is the interest shown from the key wireless Network Equipment Providers with which PowerOasis is partnering.

"PowerOasis are currently market leaders, with a growing order backlog and this investment will immediately enhance the resources available for sales execution, operational support and the next generation of product development."

www.power-oasis.com