Woodbridge, U.K. — (METERING.COM) — November 20, 2008 – A new, innovative global energy management company, Navetas Energy Management Ltd, has been launched by two former senior executives at Actaris Metering Systems. The company will be developing and implementing new ways to help business and consumers manage their energy consumption in this age of high energy prices and increased environmental concerns.

The founder directors are Chris Saunders and Chris Shelley, who have significant experience working on leading international energy projects. The company chairman will be Mike Mannering, who has been with Schlumberger since 1985 and brings over 30 years of experience in the U.K. and international energy markets.

Navetas, which will focus on the U.K. energy market, has also been provided with significant investment from two major venture capital partners – Swarraton Partners and Naxos Private Equity – who combine substantial financial resources with significant expertise in the energy sector.

One of the first things that Navetas intends to do is use the investment from Swarraton and Naxos to fund acquisitions, particularly in the area of smart metering technology.

Says managing director, Chris Saunders: “To deliver energy management in the future, it is essential first to measure energy consumption accurately and provide business and consumers with the ability to understand their energy use at any given time. Smart meters have the potential to offer benefits to energy users, energy suppliers and energy generators, such as accurate billing, greater efficiency and a reduction in carbon emissions for businesses and domestic customers, but they need to be deployed and used effectively to ensure that these benefits are realised.

"Navetas not only understands the technology required for smart metering, but also the commercial requirements that must be fulfilled for a smart meter deployment to be successful, particularly in the U.K. deregulated utility market. With the experience and resources available at Navetas, we believe we have a huge opportunity to become a market leader in this field over the next few years.”   

As well as developing smart meter technology, Navetas will also be looking to provide investment in small to medium sized companies in the UK energy management market, provide consultancy expertise, support existing partner companies with integrated energy management services and help develop technology in this area.