Smart energy business Gridimp plans recruitment and new office after winning British Business Bank backing

Green tech and AI business Gridimp has secured £250,000 in funding from the British Business Bank to support its growth.

Wells-based Gridimp offers smart energy tech and hardware designed to help firms monitors energy use in real time, and which uses AI to allow customers to join flexible energy markets to get the best value from their energy use.

The company has now secured £250,000 debt funding from the British Business Bank’s South West Investment Fund, through funding partner FSE Group.

The South West fund provides loans from £25k to £2m, and equity investment of up to £5m, to help SMEs to grow.

Richard Ryan, co-founder and commercial director at Gridimp, said: “The world is moving towards rene