Flexitricity was successfully sold to Alpiq, a Swiss energy company listed in Geneva, in April 2014. The original investment by Archangels was made in 2005.
Flexitricity is the first open-market system allowing electricity customers to participate directly in balancing supply and demand in the electricity system. Flexitricity uses advanced networking technology linked to a number of existing standby generators and electricity consuming processes. By starting generators and stopping consumption during periods of stress in the electricity system, Flexitricity helps keeps the system secure and reduces carbon dioxide emissions associated with electricity generation. Flexitricity is being rolled out in the UK, the world’s most developed electricity market but is applicable worldwide.