Draft:Fuse Energy

Overview

Fuse Energy, formerly known as Tesseract, is a British energy supplier established in 2022. . As the "first new entrant to the market since the onset of the energy crisis", Fuse Energy garnered attention for its pricing strategies and ambition to provide affordable energy solutions to households across the United Kingdom.

Founded by CEO Alan Chang and COO Charles Orr, both early hires from the fintech start-up Revolut, Fuse Energy emerged with the vision of revolutionising the energy sector by offering consumers an alternative to traditional suppliers. The company is backed by various venture capital firms and angel investors, having successfully raised a total of $78 million in its seed funding round.

Officially launching its services to residential customers in the UK in late 2023, Fuse Energy reported over 10,000 sign-ups by early 2024. In an interview, CEO Alan Chang outlined the company's plans for expansion, disclosing its intention to venture into the US market. Fuse Energy has already initiated the process by applying for an electricity licence to operate in New York, with aspirations to commence customer sales by the year's end