Fuse Energy Raises €8.5M And Launches Gas Supply To Power Mass Market Growth

The round was backed by Lowercarbon Capital and Balderton Capital, bringing total funding to €85 million. Earlier investors include Multicoin, Lakestar, Accel, Creandum, and Ribbit. Fuse Energy now reports an annualised revenue of €76 million.

“We’re using the same approach that helped Revolut scale; vertical integration, technical talent, and customer obsession”, said Alan Chang, Co-founder and CEO, Fuse. “The world has a major energy problem: legacy utilities are slow, inefficient, and built on old infrastructure. There is little urgency among incumbents to change this. Our integrated approach means we can drive down costs while investing in a more resilient grid – building the future of energy that is cheap, abundant and clean”.

Founded in 2022 by former Revolut executives Alan Chang and Charles Orr, Fuse Energy is shaking up the energy market. It’s the first supplier to launch after the energy crisis, offering full control over the energy journey — from generation to delivery.

Fuse owns solar and wind farms, handles energy trading, and supplies electricity and gas directly to homes through a mobile app or website. The company has grown 7x year-on-year and now powers 50,000 homes in the UK, making it one of Europe’s fastest-growing energy startups.

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While focused on low-carbon electricity, Fuse acknowledges the current need for gas in UK homes. Its entry into the gas market aims to cut costs, simplify energy supply, and support clean energy investments like green hydrogen.

With 84% of UK households using gas, Fuse can now serve a much larger market — potentially saving customers €172 per year on energy bills.

“Successive cost of living crises show that our energy system is no longer fit for purpose,” said Charles Orr, Co-founder and Chief Operating Officer of Fuse. “Affordable energy isn’t a luxury, it’s fundamental to a decent standard of living and a productive economy. At Fuse, we’re building the technology needed to realise that future”.

Fuse currently operates 18 MW of low-carbon energy assets and has over 1 GW in development across the UK, US, and Europe.

The new funding will support Fuse’s international expansion into Ireland, Europe, and the US, enhance product development and R&D, and roll out AI-powered features in its app.

“Sunbeam to socket, Fuse is re-writing the renewable energy playbook,” said Clay Dumas, managing partner at Lowercarbon Capital. “From record-breakingly quick construction of new solar power plants to top-rated home EV charger installations, no one matches Fuse’s ambition when it comes to managing electrons. Now we’re doubling down to help them bring their UK-leading energy products to a smart appliance near you.”

About Fuse Energy

Founded in 2022 by ex-Revolut execs Alan Chang and Charles Orr Fuse Energy is transforming the energy sector. The company is building a full-stack renewable energy platform to accelerate the global transition to clean, low-carbon power, offering an all-in-one solution from energy generation to supply.