Mitsui invests GBP 10m in UK clean energy retailer Tonik

Rooftop solar array. Featured Image: Ralf Gosch/Shutterstock.com

February 13 (Renewables Now) - Japanese general trader Mitsui & Co Ltd (TYO:8031) has invested GBP 10 million (USD 12.9m/EUR 11.4m) in UK clean energy retailer Tonik Energy, it was announced on Tuesday.

Tonik supplies renewable and zero-carbon power and gas to about 100,000 residential customers across the UK. It has built that client base in two years, according to the announcement from Mitsui.

In addition, Tonik develops value-added integrated services with sister firm The Phoenix Works, which specialises in distributed generation and electric vehicle (EV) charger solutions.

The Japanese trader said that it will leverage its own global network and know-how in the power sector to back Tonik's growth and its development of new energy offerings.

(GBP 1.0 = USD 1.289/EUR 1.142)

More stories to explore
Share this story
About the author
Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription