Yü Energy, an independent supplier of gas and electricity focused on servicing small and medium-sized businesses throughout the UK, announced on Monday its intention to apply for admission to trading on the AIM market of the London Stock Exchange in conjunction with a placing to raise approximately £7.5 million of new capital.
Bobby Kalar founded Yü Energy in response to the difficulties that he had encountered in dealing with the Big Six energy suppliers whilst he was running his first business – Redrose Care Homes – in Derby. Yü Energy is a supplier that sets out to treat its customers fairly and with respect.
Commenting on the intention to float, Kalar said: ‘We believe that many SMEs do not actively manage their energy suppliers and there is a tremendous opportunity for Yü Energy, as an independent provider focused on servicing SMEs, to grow our share of the market.’