BE develops clean energy infrastructure projects, making clean energy accessible to industrial users.
Business overview
| Location | London, United Kingdom |
|---|---|
| Social media | |
| Website | www.bec.uk/ |
| Sectors | Energy Mixed Digital/Non-Digital B2B |
| Company number | 14484648 |
| Incorporation date | 15 Nov 2022 |
Investment summary
Business highlights
- 1GW secured project pipeline across 3 continents
- Green solutions for a $50bn AI data centre market
- BlueEarth's Top 100 high-growth impact ventures
- Experienced Team in Large Scale Deployments
Key features
Idea
Introduction
BE is a developer and operator of clean energy infrastructure projects. We harness underutilised zero-carbon energy sources to power innovative technologies like AI, accelerated computing, and CleanTech directly on-site.
Our current focus is the rapidly expanding data centre industry, a sector with unprecedented growth and scarce availability, according to JLL Data Centre Group. In other words, conditions are ripe for disruption.
By designing, financing, building, and operating data centres at the energy source, our deployments act as a controllable off-taker of power, helping generators utilise every available watt. This access to surplus—and therefore reduced-cost—energy also allows us to operate at a fraction of the cost (up to 50% cheaper than competitors).
Through our projects, we're not only advancing the transition to a cleaner electricity system but also significantly reducing the carbon footprint of global power-intensive sectors.
Substantial accomplishments to date
JAN 23 | Operations established in the UK and North America.
JUN 23 | Signed BE's "Project Epsilon" to develop a 2.5MW Pilot Project supporting AI and other intensive computing workloads.
OCT 23 | Awarded BlueEarth's Top 100 high-growth, high-impact ventures positively disrupting their industry.
NOV 23 | Signed LOI for 1GW of hydro-powered deployments.
DEC 23 | In conversations with world-leading technology and infrastructure providers, including Vertiv, Dell, NVIDIA and others.
JAN 24 | Expanded our London team with experience from leading institutions, including NVIDIA, University of Cambridge & LSE.
FEB 24 | Signed LOI for data centre project with one of the most prominent technology companies in Africa.
Monetisation strategy
At BE, we specialize in creating scalable, clean energy infrastructure for data centres.
Our focus is on quickly deploying modular infrastructure to address the growing demand.
We generate revenue through hosting, bare metal, and energy management services.
Our competitive pricing and value-added services are key to our customer acquisition strategy.
We fund projects through a mix of debt, equity, and customer deposits.
We earn development and management fees for both project setup and ongoing operations.
Our goal is to achieve significant growth with a straightforward and replicable business model focused on clean energy.
Use of proceeds
Each BE project is financed independently and directly by our capital partners, mitigating financial risk for the company.
This means that the allocated funds can be used primarily to cover our working capital and overhead expenses, supporting expansion of the team and ensuring sufficient runway for the company as we develop our 2024 deployments.
We aim to achieve profitability after the launch of our first project, removing the need to raise significant financing to support growth in the future.
Key Information
Founder’s interest
The Be Company’s founder and CEO, Sath Ganesarajah, is also a director in the following companies:
• QUANTUM RESEARCH & MANAGEMENT LIMITED (15401555): A company dedicated to research and development related to Digital Assets. Directorship is likely to be removed within 12 months unless a Non-Executive Director role is kept.
• MAINFRAME & CYBERNETIC SYSTEMS LIMITED (15401560). A company dedicated to research and development related to AI. Directorship is likely to be removed within 12 months unless a Non-Executive Director role is kept.
• SKYLAKE MANAGEMENT LLP (OC434566). Consultancy company being wound down (in c.12 months).
• LP REALISATIONS LIMITED (11773819). The founder's previous company was focused on using clean energy for high-performance computing. Founded in 2019, it was restructured and sold to Statar Mining as part of an administration process in January 2023.
The businesses do not compete with The Be Company, and the founder dedicates less than 1 hour a week to them.
Group Structure
Investors in this round are investing in and will become shareholders of The BE Company of United Kingdom Limited (14484648). This is the group's holding company. The proposed group structure is as follows:
Share classes
The company currently has 2 classes of shares, Ordinary and B shares. All investors in this round, including Seedrs investors, will be receiving Ordinary shares with the following rights: (i) rights to participate in dividends; (ii) pro rata voting rights; (iii) rights to participate in surplus assets in the event of liquidation (and on an exit); and (iv) tag-along rights on a change of control. B shares have the same rights, except for voting rights.
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