BayWa r.e. continues its strong growth in the UK through the provision of Operation and Maintenance Services (O&M Services) for five solar farms totalling 22.37MW on behalf of its new client, Ingenious.

The delivery of BayWa r.e.’s expert O&M Services will look to optimise the Ingenious managed assets helping to increase production through enhanced utilisation of resources.

As an award-winning provider of O&M Services with four office locations across the UK and Ireland and growing staff numbers, BayWa r.e. has grown its solar portfolio to over 943 MW and continues to expand.

The signing of these agreements with Ingenious highlights our continued commitment to working in partnership with organisations committed to supporting the global energy transition to a low carbon environment.  With our continued investment and ambitious digitalisation strategy, we continue to provide further innovations to our clients.

Natasha Kumar

Managing Director, BayWa r.e. Operation Services Limited

Ingenious is a specialist investment manager, founded in 1998. The company supports the global energy transition to a low carbon environment through investment of debt and equity into projects and businesses that harness low carbon energy generation, resource efficiency, transport and communications technologies.

Our partnership with BayWa is an important element of our ambition to develop and invest in the infrastructure required to support a rapidly evolving world. Financing the development of clean energy assets and creating energy efficient solutions to power the UK’s future energy needs in a more sustainable manner has been a core focus of Ingenious Infrastructure since we began and we welcome this new partnership together.

Neil Forster

CEO of Ingenious

Accenture (NYSE: ACN), the global professional services company, has today made a strategic investment in Reactive Technologies, an Ingenious-backed company since 2018, that provides power and grid technology to help utilities accelerate the transition to low-carbon energy.

Reactive Technologies implements innovative technology solutions to address the energy industry’s greatest challenges. The firm offers unique measurement and analytics services for grid operators, an energy optimisation platform for corporates and an Enhanced Power Purchase Agreement for renewable generators. Reactive Technologies’ innovative services enable corporates, renewable energy generators and grid operators to actively mitigate rising energy costs, optimise their renewable assets in a non-subsidy environment and gain unprecedented real-time grid visibility, allowing for faster and more cost-effective decision making.

Ingenious’ investment in Reactive Technologies in 2018 was the first for its highly active Infrastructure Ventures EIS Service, which  has recently fully deployed with seven subsequent investments in two years following the backing of Igloo Vision, Elmtronics, Shoreline, TeraView, 3D Repo, Winnow and Over-C.

Marc Borrett, CEO of Reactive Technologies, commented: “Through unique measurement technologies, the fundamental challenges of managing grid stability with ever increasing amounts of renewable energy being deployed can now be solved. Through GridMetrix®, critical grid parameters can be captured accurately and continuously for grid operators, transmission or distribution, national or regional. This will enable them to be properly equipped to better manage grid stability risks, save money, invest smarter, and integrate more renewable energy in the power system. Working with Accenture helps us to operate on a global basis with a local presence and support our offering with their full suite of technical and commercial delivery capabilities.”

Commenting on the investment, Neil Forster, CEO at Ingenious, said: “Today’s announcement clearly endorses our investment strategy. We have been delighted to support Reactive Technologies in providing world-leading innovation over the last two years. Reactive Technologies has developed and commercialised a number of compelling solutions for the evolving energy sector and has built a strong intellectual property portfolio. We remain focused on continuing to implement the necessary solutions required as we transition towards a lower carbon energy future.”

Stephanie Jamison, a senior managing director who leads Accenture’s utilities business, said: “As electricity production from wind and solar continues to grow, the share of variable renewables in the production mix is likely to present stability challenges for utilities to balance their grids. We believe Reactive Technologies’ innovative technology solutions can help improve critical decision making by moving from models to measurement. Coupled with Accenture’s experience in the utilities business, our Industry X business’ focus on grid-balancing expertise and our global reach, these services can accelerate the creation of the utility of the future. This type of collaboration is key to helping our clients achieve their sustainability and business goals.”

Reactive is now part of Accenture Ventures’ Project Spotlight, a deeply immersive engagement and investment program that targets emerging technology software businesses to help the Global 2000 embrace the power of change and fill strategic innovation gaps. Project Spotlight offers extensive access to Accenture’s deep domain of expertise and its enterprise clients, to harness human creativity and deliver on the promise of new technology. Through the program, Reactive Technologies will co-innovate with Accenture and its clients at its Innovation Hubs, Labs and Liquid Studios, working with subject matter experts to bring solutions to market more quickly and more effectively.

Reactive Technologies is the latest addition to the investment portfolio of Accenture Ventures, which is focused on investing in companies that create or apply disruptive enterprise technologies.

Ingenious today announces that its Infrastructure Ventures EIS Service has invested £750,000 in award-winning electric vehicle (EV) charging company, Elmtronics, a leading independent provider of charging points. The funding forms part of a £1.5m investment alongside the North East Venture Fund (NEVF), which is supported by the European Regional Development Fund and managed by Mercia. The investment will be used to step up the roll-out of Elmtronics’ charging points across the UK.

The investment follows the announcement that the UK government is to ban the sale of new petrol and diesel cars from 2030 and will allow Elmtronics to step up its work in underserved UK regions. Elmtronics has developed its own software – Hubsta – which is installed on the charging points and measures customers’ electricity use, allowing them to manage their account and pay for charging services. The funding will not only enable it to further enhance the software but also support the creation of 19 new jobs around the country in the next three months, almost doubling the size of its workforce.

Elmtronics was established in 2016 by former electricians Dan Martin and Anthony Piggott. Based in Consett and with offices in Bristol, Manchester and London, the firm supplies and installs public charging stations as well as those for homes and businesses. Its clients include Nike, the NHS, National Grid, FedEx, Taylor Wimpey and a number of city councils.

Neil Forster, Chief Executive Officer at Ingenious, commented: “We have been following the progress of Elmtronics for some time and are delighted to back a company that aligns strongly with our investment strategy as it is well placed in an under-served market, made all the more relevant by last week’s news of Government action to promote the use of electric vehicles. We are very much looking forward to working closely with Dan and his team.”

Dan Martin, Chief Executive Officer, Elmtronics, said: “The latest Government announcement is another big step forward on the ‘road to net zero’. However, despite the growing popularity of EVs with consumers and fleet users, a lack of charging points continues to deter many from making the switch. This funding will allow us to step up our activity to help build the all-important infrastructure. We hope to make Elmtronics a key player in the roll-out.”

The transaction represents the eighth investment round from the Infrastructure Ventures EIS Service in the last two years, following the backing of Igloo Vision, the Shropshire-based immersive software and technology company that can take any digital content and put it into a shared immersive space; Shoreline, the intelligent field operations management software start-up; TeraView, pioneer and leader in terahertz technology and solutions; 3D Repo, the cloud-based digital platform design pioneers; Winnow, the technology company behind Winnow Vision, the artificial intelligence tool helping chefs cut food waste in half; Over-C, an analytics company focused on operational performance in the workforce management market and Reactive Technologies, a technology platform facilitating the transition to a low carbon future.

Ingenious today announces that its Infrastructure Ventures EIS Service has invested £787,000 in Igloo Vision, the Shropshire-based immersive software and technology company that can take any digital content and put it into a shared immersive space. The funding will be used to continue the build-out of Igloo’s software suite and accelerate the production of its recently launched Igloo Immersive Media Player.

The Igloo Immersive Media Player is designed to bring immersive technology easily into the reach of companies globally, with a user-friendly, plug-and-play, off-the-shelf solution. It offers any organisation the ability to retrofit any meeting room into an immersive workspace. Igloo software has also been integrated with video-conferencing platforms, like Zoom and Microsoft Teams. This immersive video-conferencing solution has been used by Igloo clients in the enterprise and education sectors adapting to the pandemic, for example by allowing onsite teams to connect with working-from-home colleagues, and by enabling teachers to deliver lectures to remotely-based students.


Early buyers include one of the world’s leading management consultancy firms, one of the world’s largest logistics firms, and one of North America’s leading utilities players. The firm’s technology is well-suited to training, simulation, visualisation, and education, as well as events and experiences. Long-term clients currently include Accenture, Microsoft, WarnerMedia, NTT, and AECOM, many of which are using the technology to adapt to the COVID-19 pandemic.

The investment from Ingenious will not only accelerate the production of the Igloo Immersive Media Player, but also the ongoing development of Igloo’s broad existing software suite.

The transaction represents the seventh investment round from the Infrastructure Ventures EIS Service in the last two years, following the backing of Shoreline, the intelligent field operations management software start-up; TeraView, pioneer and leader in terahertz technology and solutions; 3D Repo, the cloud-based digital platform design pioneers; Winnow, the technology company behind Winnow Vision, the artificial intelligence tool helping chefs cut food waste in half; Over-C, an analytics company focused on operational performance in the workforce management market and Reactive Technologies, a technology platform facilitating the transition to a low carbon future.

Neil Forster, Chief Executive Officer at Ingenious, commented: “In the current environment, it is the companies that effectively support collaboration and communication between multilocational teams that will thrive. Igloo Vision is certainly one of those companies as is demonstrated by their extensive client list which includes some of the world’s leading brands, software companies, and utilities. The deal aligns strongly with our investment strategy and we are looking forward to working closely with Dennis and his team.”

This is Igloo’s second investment round since the onset of the COVID-19 pandemic. Back in April 2020, it secured £435,000 from a range of EIS investors. Since then, the valuation of the company has seen an annualised 12% increase.

Dennis Wright, Chief Executive Officer at Igloo Vision, said: “This latest investment, along with the ongoing increase in the valuation of Igloo, is a reflection of the significant progress we’ve made, irrespective of a global pandemic and recession. Sales have remained buoyant and we have been able to penetrate new geographies, with Igloo technology now used in 39 countries. The new funds, like the previous investment round, help us to fast-track our global growth.”

Ingenious today announces that its Infrastructure Ventures EIS Service has invested in Winnow, the technology company behind Winnow Vision, the artificial intelligence tool helping chefs cut food waste in half, as it completes its series B round of funding at $12m. Other co-investors in this fund raising round include Ingka Investments, Mustard Seed, Circularity Capital, D-Ax in addition to Ingenious.  This follows a recent loan from The European Investment Bank (EIB) and in total means the firm has raised $20m in the last month, allowing it to focus on global markets.

Launched in a single staff restaurant in 2013, Winnow has been adopted by more than 1,000 sites globally and is now operating in 40 countries with offices in London, Dubai, Singapore, Shanghai, Cluj-Napoca and Iowa City. Winnow’s latest AI product Winnow Vision, the most advanced food waste technology on the market, has been developed to automate waste tracking, enabling chefs to run more profitable and sustainable kitchens. With global clients already adopting Winnow Vision, from IKEA stores through to the Armani Hotel in Dubai, the demand by companies to drive down food waste in 2019 is increasing.

Kitchens using Winnow tend to see a 40-70% reduction in food waste within 6-12 months, driving food cost savings between 2-8% in total, which improves profit margins whilst operating in an ethical manner.

We are very happy to support Winnow and look forward to seeing the growth of the company which aligns strongly with our investment strategy and sector focus, including resource efficiency.

Guy Ranawake

Investment Director at Ingenious

We are very excited about driving the business forward in our global fight against food waste and we are grateful for the continuous support of our investors. This year we launched our ground-breaking AI product Winnow Vision, and chefs using Winnow around the world are saving $33m worth of food from going to waste annually. We have set a target to save our customers $1bn by 2025, and this investment will accelerate our technology development and business development approach to help achieve this ambition.

Marc Zornes

CEO at Winnow

Winnow Vision works by taking photos of wasted food as it’s thrown away and uses the images to train itself to recognise what has been discarded. Winnow’s systems have already reached and surpassed human levels of accuracy in identifying wasted foods. This means for clients, over time, these systems will enable their kitchens to automatically register food waste without any human interaction. Food will be thrown in the bin and the data will be captured automatically.

The transaction was led by Ingenious’ infrastructure division and represents the third investment from the Infrastructure Ventures EIS Service, following the backing of Over-C, an analytics company focused on operational performance in the workforce management market and Reactive Technologies, a world leading technology platform facilitating the transition to a low carbon future.

Ingenious today announces that its Infrastructure Ventures EIS Service has led a $4m A-series investment round in Shoreline. The Norway-based start-up has built an intelligent field operations and project development platform to help develop profitable wind projects by constructing and operating them efficiently using intelligent schedule optimisation and simulation.

The investment is designed to ensure Shoreline can capitalise on the rapid growth in the renewables market, which it believes has resulted in larger and more expensive projects. Simultaneously, it will allow Shoreline to enhance its service to existing wind farms and assets that require service providers, project developers, OEMs and operators to look for new and more advanced ways to plan and execute projects and daily operations.

Already used on wind projects globally by some of the largest players in the industry, the Shoreline software creates a “digital twin” of all the workflows, resources and assets that can be used in a powerful combination of simulation models and schedule optimisation to analyse numerous complex field service, supply chain and project scenarios. This allows firms to find the optimal solution for these high value projects.

Shoreline also offers an integrated solution with scenario analysis, resource management, reporting, planning and construction management with intelligent optimisation and automation of workflows.

Guy Ranawake, Senior Investment Director at Ingenious, commented: “There has been rapid growth in renewables generation, which we expect to continue as we transition toward a net zero world by 2050. Shoreline’s development platform, which covers design and construction through to operation will allow clients to improve efficiency, consistently helping projects to meet both cost and time targets. We are very happy to support Shoreline and look forward to seeing the growth of the company, which aligns strongly with our investment strategy and renewable energy infrastructure sector focus.”

Ole-Erik V. Endrerud, Founder and CEO at Shoreline, said: “Software is already a central tool in any organisation that constructs and operates large renewable projects, but we have seen an incredible push from the industry as a whole towards new solutions that can help automate workflows and assist technicians and planners to optimise schedules in seconds, in a user friendly and enterprise-ready package.”

The transaction was led by Ingenious’ infrastructure division with participation from existing investors Blue Bear Capital, Alliance Venture and Investinor, which backed the company’s earlier seed round. It represents the sixth investment round from the Infrastructure Ventures EIS Service, following the backing of TeraView, the pioneer and leader in terahertz technology and solutions; 3D Repo, the cloud-based digital platform design pioneers; Winnow, the technology company behind Winnow Vision, the artificial intelligence tool helping chefs cut food waste in half; Over-C, an analytics company focused on operational performance in the workforce management market and Reactive Technologies, a technology platform facilitating the transition to a low carbon future.

Ingenious today announces that its Infrastructure Ventures EIS Service has invested as part of a $6m A-series investment round in TeraView, the pioneer and leader in terahertz technology and solutions.

The investment is designed to ensure that TeraView retains its leadership in the growing terahertz market and continues to provide a high level of support to each of its customers across the world while also accelerating product & technology development, customer support, and sales & marketing by the Company.

TeraView is the leading supplier of terahertz systems to support semiconductor companies and their manufacturing partners in the implementation of advanced 2.5 and 3D packaging technologies for integrated circuits.

Terahertz light lies between infra-red and microwaves, and as such has unique properties which enables it to pass through objects and to transmit images and compositional (spectroscopic) information that is ordinarily hidden. Terahertz is non-destructive, safe and fast, making it the ideal inspection and imaging modality for many applications across a range of industries. For example, advanced packaging techniques allow compact integration of key components such as microprocessors, high bandwidth memory and graphics processors used in computing and data manipulation, providing a means of enhancing performance and minimising power and space requirements in mobile phones and other electronic devices.

All of the major semiconductor companies are now offering their own packaging architectures to differentiate themselves from competitors. TeraView’s proprietary EOTPR technology has been developed with its key customers as an important enabling tool in fault isolation and inspection of these new architectures.

TeraView is also the leading supplier of terahertz systems for the measurement of thickness of multi-layer paints used in the automotive and aerospace industries. New painting technologies such as wet-on-wet formulations are being implemented to improve automotive production line throughput.

Guy Ranawake, Senior Investment Director at Ingenious, commented: “The unique properties of terahertz light combined with the fact that it is non-destructive, safe and fast, make it the ideal inspection and imaging modality for a variety of applications across a range of industries. TeraView is the world’s first and leading company solely focused on this area and has demonstrated the potential of its proprietary technology through its team of dedicated engineers leading to it having the largest number of terahertz systems in the field. We are very happy to support TeraView and look forward to seeing the growth of the company which aligns strongly with our investment strategy and infrastructure sector focus.”

Dr Don Arnone, Chief Executive Officer and co-founder of TeraView, commented: “The follow-on investment from Nordson DAGE, coupled with new corporate investors such as Wonik Investments in Korea, underscore the level of interest from industry in TeraView’s technology and solutions that we provide to our customers in our core markets. Support from new financial investors such as Ingenious in London, and Pathfinder H in Korea further demonstrate the global appeal of TeraView’s business to investors.”

The transaction was led by Ingenious’ infrastructure division and represents the fifth investment from the Infrastructure Ventures EIS Service, following the backing of 3D Repo the cloud-based digital platform design pioneers, Winnow, the technology company behind Winnow Vision, the artificial intelligence tool helping chefs cut food waste in half, Over-C, an analytics company focused on operational performance in the workforce management market and Reactive Technologies, a world leading technology platform facilitating the transition to a low carbon future.

Represents the fourth investment from Ingenious’ Infrastructure Ventures EIS Service

Ingenious today announces that its Infrastructure Ventures EIS Service has led a £2.3m A-series investment round in 3D Repo, the pioneers of cloud-based design collaboration in Building Information Modelling (‘BIM’).

The investment represents another major vote of confidence and a financial boost for 3D Repo’s digital construction services business.

Cutting-edge technology by 3D Repo has been successfully deployed on some of the largest and most prestigious construction projects with companies such as Atkins, Balfour Beatty, Bryden Wood, BuroHappold, Canary Wharf Contractors, and Crossrail among others.

Its multi-award-winning digital platform for BIM data is transforming how construction projects are designed and delivered by democratising data, mitigating risk and reducing complexity for everyone involved. Instead of architects, engineers and contractors sharing massive proprietary files in a costly and time-consuming manner, they can simply point their web browser to an encrypted cloud platform to examine each project stage virtually.

Guy Ranawake, Senior Investment Director at Ingenious, commented: “There has been solid growth in the use of BIM worldwide and especially in the UK following the government mandate for BIM Level 2 on all large-scale public sector construction and infrastructure projects since 2016. 3D Repo’s online platform has excellent collaborative tools that allow teams to achieve all the benefits promised by BIM, consistently helping projects meet cost and time targets. We are very happy to support 3D Repo and look forward to seeing the growth of the company which aligns strongly with our investment strategy and infrastructure sector focus.”

Dr Jozef Dobos, Founder and CEO of 3D Repo, said: “3D Repo is a powerful digital construction platform that has already helped many of our clients improve communication, coordination and collaboration. Having the backing of Ingenious means that we can continue to support the country’s foremost digital construction champions and drive the use of 3D Repo on the most challenging infrastructure projects globally.”

The 3D Repo platform allows users to manage 3D model revisions and to highlight potential clashes and safety issues using live collaboration tools which enable the whole project team to work from a single source of truth, anywhere and at any time.

The transaction was led by Ingenious’ infrastructure division and represents the fourth investment from the Infrastructure Ventures EIS Service, following the backing of Winnow, the technology company behind Winnow Vision, the artificial intelligence tool helping chefs cut food waste in half, Over-C, an analytics company focused on operational performance in the workforce management market and Reactive Technologies, a world leading technology platform facilitating the transition to a low carbon future.

Ingenious today announces that it has led an investment round into Over-C Limited, a London-based analytics company focused on operational performance in the workforce management market. Ingenious helped raise an additional £5.5 million in equity funding, bringing the total raised to £10 million.

Over-C’s software uses artificial intelligence, data and analytics to provide industry professionals with key insights for time-critical decision making. Over-C drives behaviours that allow companies to rethink their business and operating models, better quantify risk, uncover new opportunities, reduce losses, and boost profits. The firm currently operates across the UK, Ireland and The Netherlands providing solutions for many industry sectors ranging from transport operators for rail and airports, to shopping centres, stadiums and manufacturers.

The latest round of funding was led by Ingenious’s infrastructure division and represents the second investment from the Infrastructure Ventures EIS Service, following the backing of Reactive Technologies, a world leading technology platform facilitating the transition to a low carbon future.

The investment in Over-C remains in line with the firm’s ongoing drive to seek out high-growth investment opportunities in companies active in the energy, communications, transportation and resource efficiency industries.

Over-C has created and developed a management tool designed to improve mobile and field-based business processes and remote workforce operations. As an active investor and manager, we are delighted to support this award-winning company, setting new standards for managing operational performance. We look forward to working closely with Over-C to delivering solutions at scale.

Guy Ranawake

Managing Director of Infrastructure

This new round of investment provides us with a solid platform of capital to scale our business alongside our customers in what is a worldwide market.

As demand for our solutions has increased, so has the need to continue accelerating our AI capabilities and address a rapidly growing international customer base.

Michael Elliott

Chief Executive Officer at Over-C

The success of the firm to date has been recognised nationally. Its UK partner O2, a leading digital communications company, won ‘The IOT Award’ at the annual Connected Britain Awards 2019 for O2 Smart Compliance, which is powered by Over-C. The IOT Award for 2019 was given to O2, thanks to their joint work work with ScotRail in helping to ensure the security of workers in potentially hazardous situations. ScotRail, Scotland’s national rail service provider, needed a digital solution to help them align with the Department for Transport’s requirements and standards for security and safety, such as real time information, time sensitive prompts and tamper proof records.

Ingenious-backed Stellata has announced today the latest successful milestone in their flagship 100MWAC solar project, Merredin Solar Farm, by signing a Share Purchase Agreement with Risen Energy. The solar project is located in Western Australia’s Wheatbelt , and once operational will be the largest in the state by some margin.

Chinese company, Risen Energy, is one of the largest photovoltaic (PV) module suppliers in the world. The collaboration continues to build momentum for Stellata, with construction of Merredin Solar Farm scheduled to commence in late 2018 and energisation expected in Q3 2019. Stellata will continue to support Risen Energy with the development of the project.

The proposed solar farm will consist of roughly 400,000 single-axis tracking solar PV modules covering an area of roughly 350 hectares across WA’s Central Wheatbelt, with an expected output of 281GWh per annum. On completion of the project, Merredin Solar Farm will be capable of delivering enough energy to power in excess of 42,000 WA homes annually.

Commenting on the agreement, Sebastian Speight, Managing Director at Ingenious Infrastructure said “We are delighted to have reached this milestone and will be supporting Risen Energy into the construction phase at the end of 2018. This is the first project sale that Ingenious Infrastructure has completed outside of the UK and we look forward to replicating this success in the Republic of Ireland and the other international markets where we are currently developing renewable energy assets”.

Commenting on the agreement, Guy Beesley, Managing Director at Stellata Energy said “As a West Australian company our goal has always been to deliver as much renewable energy as possible on to the state’s electricity network. Merredin Solar Farm is an excellent project, ideally located, and will be a major contributor to WA’s renewable generation portfolio. Stellata will be on hand to assist Risen during the construction phase and we look forward to the project being energised in the second half of 2019.”

John Zhong, Project Development and Investment Director at Risen Energy commented “Our first acquisition for the 100 megawatt (AC) Yarranlea Solar Farm in Queensland was completed in early 2018 and construction is underway. Merredin Solar Farm is our second acquisition with the Share Purchase Agreement executed in October 2018.”