Sir Albert welcomes extraenergy to Birmingham

By on 28/08/2014 in Leader, News

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.

extraenergy, which is part of a wider group that includes sister operation Extra Energie Gmbh in
Germany, has seen more than 60,000 domestic customers and 11,000 small businesses choose
to switch to its service since it launched into the UK in March.

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.

Sir Albert Bore, Leader of Birmingham City Council said: “The city's inward investment strategy, which focuses on areas of 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.”

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 400 by Christmas this year and
1,000 within the next 12 months.

The company's ambitions are backed by experience. Its German operation, Extra Energie
Gmbh, has become the fastest growing energy supplier in the country over the last four years,
with over one million customers signed up.

Recent figures revealed that Greater Birmingham & Solihull topped the regional table for foreign
direct investment (FDI). UK Trade & Investment 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, added: “Alongside colleagues from the City Council, we have been working for some time with
extraenergy to build a strong business case for its investment in Birmingham.

“The company's decision to base its UK operation in Birmingham is a real endorsement of the
city's highly skilled talent and the support we offer. As its growth relies on technology,
extraenergy needs staff that can create industry leading innovations in order to realise its
ambitions.

“As a challenger brand, with the ability to make an impact in a highly contested industry,
Birmingham had to beat off stiff international and UK competition to bring the company to the
city. In choosing Birmingham, extraenergy is reinforcing our growing position as the UK's most
exciting investment location.”

Ends

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