Marlow: Moorcrofts advises sale of controlling interest in Levelise
Law firm Moorcrofts has advised the founder shareholders of Levelise on a sale of a controlling interest in the company to Social Energy.
Levelise is an Oxford-based technology start-up founded in March 2017 by a team of experienced, ex-Sharp hardware and software engineers, data scientists, algorithm developers and renewable energy specialists. Levelise has created a home energy management system that links high numbers of domestic battery systems to a suite of advanced algorithmic controls: The Levelise cloud.
Social Energy has recently entered into a partnership with Duracell to launch a home energy storage system in the UK, and the Levelise technology will play a key part in this AI powered platform and energy storage system.
As part of the deal, Social Energy provided a secured loan to Levelise. The deal also involved the founder shareholders entering into a shareholders agreement with Social Energy in relation to Levelise.
Peter Woolley (corporate partner) led the transaction, with support from Nicola Whelan (employment associate) and Moorcrofts’ commercial/IT team (led by Andrew Katz).
Matthias Kauer, a director of Levelise, said: “Moorcrofts - and in particular, Peter Woolley - has recently advised Levelise on a series of transactions with Social Energy Limited, the groundbreaking AI powered platform and energy storage provider. Peter is highly professional, and has a very good commercial and pragmatic understanding of matters. He works efficiently and to deadlines and I have total confidence recommending Moorcrofts and Peter to others, particularly on complex, technical or difficult corporate deals.”
Woolley commented: “We enjoyed advising Levelise’s founder shareholders on this sale. The UK home energy storage sector is enjoying a period of stellar growth, and (with the help of Levelise and its technology) Social Energy can play a key role in this as an energy disruptor. We hope that we will have the opportunity to work with Levelise and Social Energy on other projects in the future.”
