Kaluza Due Diligence

Run due diligence on Kaluza: check compliance and get alerts when suppliers change.

United Kingdom · www.kaluza.com · 29 vendors

Kaluza is an energy software company that provides an intelligent platform to help energy companies manage operations and accelerate the transition to a zero-carbon world. Its platform offers end-to-end capabilities, including billing, payments, customer support, and real-time energy optimization. This enables energy suppliers to drive decarbonization with smart, low-carbon technologies and enhance customer engagement.

Resilience scores

Technology vendors

Services catalogue

3 services in catalogue across 2 categories; runs on 29 sub-vendors.

Insights

Last updated 2026-07-25 · revision 11

29 direct vendors, 264 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

11 in-scope frameworks identified; showing 3.

Ofgem Smart Metering & Energy Data Regulations — No public evidence

Evidence: https://www.ofgem.gov.uk/check-if-energy-price-cap-affects-you, https://www.smartenergycodecompany.co.uk/, https://www.kaluza.com/platform, https://www.gov.uk/government/publications/energy-data-taskforce-report

UK NIS Regulations 2018 & Cyber Security and Resilience Bill — No public evidence

Evidence: https://www.legislation.gov.uk/uksi/2018/506/contents/made, https://www.ncsc.gov.uk/collection/nis-directive, https://www.gov.uk/government/publications/cyber-security-and-resilience-bill-factsheet, https://www.kaluza.com/about

GDPR (source) — No public evidence

Evidence: https://www.kaluza.com/policies, https://www.kaluza.com/privacy-policy, https://www.kaluza.com/applicant-data-protection-notice, https://ico.org.uk/for-organisations/uk-gdpr-guidance-and-resources/, https://www.kaluza.com/about

Financials

Three-year financials

Financial Resilience Score: 6/10

Kaluza is a private, growth-stage UK energy SaaS company that has historically been loss-making and reliant on shareholder funding from OVO and, more recently, AGL Energy. In June 2024, AGL invested US$100m for approximately 20% of the company, implying a valuation of roughly US$500m and materially strengthening the equity base. This capital injection, combined with a strategic minority ownership structure (OVO founders + AGL), provides both financial runway and anchor customers. The company benefits from a recurring SaaS revenue model with multi-year enterprise contracts and high switching costs, plus a blue-chip customer roster including OVO, AGL, ENGIE, Mercury, Mitsubishi Corp, and multiple automotive OEMs (BMW, Volvo, VW, Stellantis, Honda). The September 2025 global ENGIE agreement is reported to double Kaluza's customer base, indicating strong revenue growth momentum. However, resilience is constrained by continued cash burn, high historic customer concentration on OVO Energy, related-party exposure to a UK energy retailer under margin/regulatory pressure, execution risk in large tier-1 utility migrations, FX exposure across GBP, AUD, JPY, USD and EUR, and intense competition from Octopus's Kraken platform, Oracle Opower and SAP. Recent CEO churn (Melissa Gander appointed May 2024; founder Stephen Fitzpatrick reportedly returning in 2026) signals a strategic reset. Overall the company has adequate but not strong resilience, dependent on continued strategic shareholder support until profitability is reached.

Key strengths: US$100m AGL equity investment in June 2024 at ~US$500m valuation, Strategic minority ownership by OVO founders and AGL Energy, Recurring SaaS revenue model with multi-year enterprise contracts, Blue-chip global customer base (OVO, AGL, ENGIE, Mitsubishi, BMW, Volvo, VW, Stellantis, Honda), ENGIE global agreement (Sep 2025) reportedly doubles customer base, Beige Technologies acquisition (May 2025) expanding Australia footprint, #1 in Frost Radar Innovation Index 2025; B Corp certified, High switching costs on platform migrations

Risk factors: Loss-making and cash-burning growth stage reliant on shareholder funding, Historic high customer concentration on OVO Energy, Related-party exposure to OVO Group in pressured UK retail energy market, Execution risk in complex tier-1 utility platform migrations, FX exposure across AUD, JPY, USD, EUR versus GBP cost base, Intense competition from Octopus Kraken, Oracle Opower and SAP, Leadership churn with multiple CEO changes 2024-2026, Limited public financial disclosure as a private company

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