Mitsubishi completed the acquisition of a 20% stake in OVO Energy for £216m. OVO will use the proceeds of Mitsubishi's strategic investment to expand into new markets across Europe and the Asia Pacific and accelerate the development of its intelligent energy technologies unit, Kaluza. This new division within the OVO portfolio develops and manages software and hardware to support the integration of electric vehicles and dynamic battery storage onto the grid. “OVO and Mitsubishi Corporation share the same vision for the future of energy: secure, distributed and consumer-centric, with affordable clean energy for everyone. We’re delighted to be working with an exceptional global partner which is perfectly placed to help us accelerate our international expansion and technology rollout,” Stephen Fitzpatrick, OVO Energy CEO.