Law firm Ashfords LLP’s corporate team has advised Navetas Energy Management on a £5 million funding round.
US energy giant Sensus has purchased a stake in Navetas and agreed an exclusive license agreement for Navetas technology in the US market. The investment, which is the latest in a series of funding rounds, takes Navetas’ fundraising total to £12 million.
UK-based Navetas provides energy management services to the energy supply market.
The Ashfords team was led by Corporate Partner Chris Dyson, with Commercial Partner Garry Mackay advising on the licensing arrangements.
Chris said: “It was great to utilise Ashfords’ technology sector and corporate finance expertise to advise Navetas on this funding round, which should facilitate its growth plans and lead to the creation of new jobs. Navetas is an exciting prospect, as recognised by this tie-up with a major player in the global energy market.”