extraenergy supplies Birmingham with investment boost.
An energy supplier that aims to offer a cheaper alternative to the Big Six has become the latest investor to make Birmingham its home.
extraenergy, a low cost energy supplier that aims to challenge the dominance of the Big Six energy firms, has confirmed plans to locate its headquarters in the city and create up to 1,000 local jobs over the next 12 months. The decision is the first investment announcement since Greater Birmingham and Solihull was revealed as the best performing region in attracting foreign direct investment (FDI) last year.
The company credits its innovative use of technology and a focus on efficiency for its success. Its custom built technology platform and automated billing system aligned to a commitment to keep overheads ‘lean’ brings savings, which are passed directly on to customers.
Geoff Childs, Managing Director of extraenergy said: “We are a young and ambitious company on a mission to compete with the biggest energy companies in the country, using new technologies and efficient customer service. To do that, we needed a location that offered a rich and highly skilled talent pool across tech, commerce and all of the operational functions that really make a business work. We also needed a location that would work with us and help us to grow. Birmingham offered all of this and we are confident that our expansion in the city will reflect our growth in the UK’s energy market.”
Talks to confirm the location of extraenergy’s new headquarters are at an advanced stage and an announcement will be made soon. The deal is expected to see the company take 35,000 sq ft of commercial office space in Birmingham city centre, as a base for its expanding operation. The company currently employs 280 staff at its interim office in Teleperformance House in the city’s Five Ways area. extraenergy plan to grow staff numbers to over 500 by Christmas this year and 1,000 within the next 12 months.
Sir Albert Bore, Leader of Birmingham City Council said: “The city’s inward investment strategy, which focuses on sectors where we have real strength and growth opportunities, is really building momentum. Today’s news demonstrates our ability to compete – on talent, on property and on the support the city can offer new investors. extraenergy is a challenger in its marketplace, and Birmingham is now the same. We can compete with some of the biggest business centres in the world, and we have ambitions to do just that.”
Recent figures revealed that Greater Birmingham & Solihull topped the regional table for foreign direct investment (FDI). UK Trade & Invest last month revealed that there were more foreign investment projects in Greater Birmingham and Solihull LEP (GBSLEP) last year than any other English region. The number of FDI projects in the area rose by 57% to 77, which trumped the 37 other regions. The region also created the most jobs – a total of 4,841 – a 98% increase on the previous year, compared to 3,350 at its nearest challenger New Anglia LEP.
Wouter Schuitemaker, Investment Director at Business Birmingham, the city’s inward investment programme, which worked directly with extraenergy to secure their investment in Birmingham, said: “extraenergy’s decision to base its UK operation in Birmingham is a real endorsement of the city’s highly skilled talent. The company’s growth relies on technology and it needs staff that can generate industry leading innovation to help them to realise their ambitions.
“As a challenger brand, with the ability to make an impact in a highly contested industry, Birmingham had to beat off stiff competition to bring extraenergy to the city. In choosing Birmingham, extraenergy is reinforcing our growing position as the UK’s most exciting investment location.”
