Rescue deal saves jobs at Harrogate's Chameleon Technology which helped 12 million energy customers
“Saving these jobs is hugely important to me and we have retained people with years of experience who helped make Chameleon a successful Harrogate technology business”
The founder of a Harrogate tech company, which has played a role in the smart meter revolution in the UK, has stepped in to rescue the business from administration and save 22 jobs in the town.
Entrepreneur Gary Martin has bought the hardware business and assets of Chameleon Technology out of administration, securing the future of its smart meter display operations.
Mr Martin, who originally founded and funded Chameleon Technology in 2010, has returned to rescue the business five years after stepping away following a management buyout.
The acquisition was completed on Monday, October 26, for an undisclosed sum through Verve Energy Technology, a privately-funded company backed by fresh investment.
"I founded Chameleon originally because I believed people should have better information about how much energy they use and what it costs them,” said Mr Martin.
“That matters even more today, especially when so many households worry about their energy bills.
"When the opportunity arose to rescue the hardware business, my first priority was to protect as many jobs as possible and keep the expertise we have built here in Yorkshire.
“We have a talented team who know these products and our customers inside out.
“We now have the investment to get the business back on its feet, support our energy company partners and make sure households can continue to benefit from our technology.”
Chameleon Technology, whose offices are located at Central House, Otley Road in Harrogate, is one of the UK’s leading suppliers of in-home displays (IHDs), the smart meter screens that help consumers monitor their energy use in real time.
More than 12 million of its devices have been installed, reaching an estimated 20 million people, around a third of all UK households.
Chameleon Technology has been one of Britain’s leading suppliers of in-home displays, the small screens supplied alongside smart meters that allow consumers to see how much gas and electricity they are using.
Its customers include some of the UK’s biggest energy suppliers, including British Gas, EDF, E.ON, Octopus Energy and OVO.
The deal will safeguard 27 jobs in total, including key engineering, commercial and customer support roles, with the business relocating to new offices in central Harrogate and retaining a team in Hong Kong.
It will also secure the future supply of in-home displays used by millions of households to monitor their energy consumption and spending.
The acquisition secures the hardware side of the business, including its manufacturing assets and in-home display products.
It does not include the company’s software and data operations.
Mr Martin said: "There has been a difficult period of uncertainty for employees and customers.
“We cannot change what has happened, but we can give the business a fresh start.
“Saving these jobs is hugely important to me, and we have retained people with years of experience who helped make Chameleon a successful Yorkshire technology business.”
The business now plans to work with its established manufacturing partners to resume production and maintain support for devices already installed in homes across Britain.