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Baker Botts Represents Upside Energy in Series A Investment by SYSTEMIQ, Legal & General and Modern Energy

News Release
LONDON, 11 January, 2017 – Baker Botts L.L.P., a leading international law firm, announced today that it represented Upside Energy (“Upside”) in Series A investment by SYSTEMIQ, Legal & General and Modern Energy.

Upside is a Manchester-based company that has developed a cloud platform that uses advanced algorithms and artificial intelligence to coordinate connected devices to deliver valuable flexibility services to the energy system.

Baker Botts lead partner on the deal, Neil Foster noted, “We are delighted to be working with Upside and congratulate the team on a successful series A fundraise. Developing long lasting relationships with high growth companies is key part of our firm’s technology sector plan across all of our offices.”  

“We are also working on a number of deals which are in the intersection of our two leading sectors, namely technology and energy.  Upside’s novel demand-response technology for managing efficient energy networks is a perfect example of the innovation which is transforming existing energy infrastructure and markets,” Mr. Foster further stated. 

SYSTEMIQ and Legal & General Capital acted as lead co-investors in Upside’s Series A fundraise. The capital will be used to expand the team in order to develop further the platform’s capabilities, accelerate commercialisation, drive operational deployment, and to realise Upside’s vision for a new, cleaner and more equitable energy system. 

“Baker Botts has been a trusted advisor to Upside Energy throughout our journey. During our Series A they were there as part of our team helping us navigate through a complex deal successfully," said Devrim Celal, Chief Executive Officer of Upside Energy.

For more details on the Upside Energy transaction, please click here.

 

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About Baker Botts LLP
Baker Botts is an international law firm of approximately 725 lawyers practicing throughout a network of 14 offices around the globe. Based on our experience and knowledge of our clients’ industries, we are recognized as a leading firm in the energy and technology sectors. Throughout our 177-year history, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit BakerBotts.com.

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