As part of the Silicon Gorge programme, we’re catching up with the finalists to learn more about their origins, the problem they’re solving and why they’re looking for investment. Next up is Damon Rand, Managing Director at Cepro.
1. What does your company do?
Cepro develops, finances and operates private wire electricity networks called microgrids that generate and supply discounted clean power to housing communities. These microgrids seamlessly integrate and optimise community solar, heat pumps, energy storage and EV charging.
2. What problem are you trying to solve?
Cepro is trying to decarbonise, digitise, decentralise and democratise UK home energy supply. Housebuilders and landlords need net zero homes powered by clean, secure and affordable energy to meet regulations and consumer demand.
3. What makes your solution unique?
Cepro’s microgrids generate multiple long-term revenue streams from electricity sales to homeowners and providing services to National Grid. Cepro has overcome major barriers as the only UK company to have developed, financed, built and be operating multiple full-scale residential microgrids.
4. What are you most proud of so far?
Cepro is proud to have completed microgrids at Water Lilies in Bristol (33 homes) and Hazelmead in Bridport (54 homes), raising £2m project finance invested across the two projects. They have also built relationships with major housebuilders representing 25% of new UK homes.
5. How much are you raising and what do you want to use investment for?
Cepro has raised over £600k EIS equity so far this year on the way to securing a £1m seed round. The working capital will be used to secure and expand their pipeline, convert existing opportunities, progress to an institutional raise in 2025, and explore new revenue opportunities like virtual power plants and grid battery optimisation.
6. What tools/people/services/
Cepro has worked with Bristol Energy Cooperative to raise project finance and has been supported by the Energy Systems Catapult since 2020.
7. Where can we find out more about you?
