Moorcrofts LLP advises ex-Gurkha founded, and community owned, utility company on latest investment round

Law Firm Moorcrofts’ corporate team has advised Gnergy Holdings Limited (“GnERGY”) on a £2million community investment round.

Founded in 2013, GnERGY is a Hampshire-based energy supplier set up by former Gurkhas (former Nepalese soldiers who served in the British Army).  GnERGY provides gas and electricity to consumers and offers a real alternative to the existing major energy providers on the market.  The investment opportunity was open to the Nepali community, and specifically those in the Nepali community who have an existing and common interest in the affairs of GnERGY.

The latest capital investment has been designated for an expansion project and the upgrade of existing technology utilised by the company, particularly as the industry moves towards a focus on using smart technology.

The Moorcrofts team advising GnERGY was led by corporate partner Teri Hunter with assistance from Mohsin Shabbir.

Major Tikendra Dewan, the founder and managing director of GnERGY, said: “We have worked incredibly hard over the last few years in order to successfully grow the business, and we are grateful that Moorcrofts were able to offer practical, commercial solutions to the practical and legal issues that arose in respect of this investment round, and in a timely manner. I look forward to working with them again as GnERGY continues to grow its business and customer base.”

Teri Hunter said: “We advised GnERGY on a new investment round, and its successful completion is a testament to the hard work and vision of Tikendra and his team and showcases the support that the company has garnered from the local community. The large number of investors shows the enthusiasm and trust that the local community has for the company and the management team. We look forward to working with Tikendra and his team again in the future”.