POWWR has secured a multi-million-pound investment from private equity firm Five Elms Capital, as it accelerates product development and expands its management team.
The funding will be used to support innovation across POWWR’s technology platform and increase headcount by up to 40 per cent over the next year, reflecting rising demand for digital tools in the UK’s energy brokerage and supply markets.
Alongside the investment, the company has appointed Paul Hodnett as chief executive. Mr Hodnett, who founded UD Group before its merger with POWWR in 2019, has been a senior figure within the business for more than five years and brings almost two decades of industry experience.
He succeeds Matt Tormollen, who led the company through a period of consolidation and platform development.
POWWR provides software and data tools used by energy brokers and suppliers to manage pricing, contracts and customer relationships. The company said the new capital would enable it to enhance automation, analytics and integration capabilities, positioning its platform at the centre of the energy ecosystem.
Mr Hodnett said the business was entering a new phase of growth. “After a period of transition and stability, POWWR is now entering its next chapter,” he said. “We are excited to be pioneers again, developing solutions that help our customers win more deals and grow their businesses.”
He added that the company would focus on building a differentiated technology platform and strengthening long-term relationships with brokers and suppliers through incremental product development.
Five Elms, which specialises in backing software businesses, said POWWR was well positioned to benefit from ongoing digitisation in the energy sector, where regulatory complexity and margin pressure are increasing demand for efficient trading and customer management systems.
Stephanie Schneider, a partner at Five Elms, said Mr Hodnett’s appointment reinforced the firm’s confidence in the strategy. “His passion for innovation and deep understanding of the market make him uniquely positioned to lead the business through its next phase,” she said.
The investment comes amid continued restructuring in the UK energy market, following recent volatility in wholesale prices and supplier exits. Technology providers are increasingly seen as critical to improving transparency, compliance and operational resilience.
POWWR said the funding would support both organic growth and the development of new services, as it seeks to consolidate its position as a core technology partner for the sector.
The company also paid tribute to Mr Tormollen, crediting him with strengthening its operational foundations and preparing the business for renewed expansion.
