TV exec invests in Enact

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Tolvaddon-based sustainable energy provider, Enact Energy, has appointed two new directors to the board of the company.

John Egan joins as executive chairman and becomes the largest shareholder after a significant investment in the company, while Steve Mundy joins the board as finance director.

Egan comes from a television background and was previously the founder and joint MD of sit-up Ltd, the operator of the world’s first live TV auction channel, being responsible for launching such channels as bid-up.tv and price-drop.tv in the UK. sit-up Ltd was sold to Telewest in 2005 and after a period of transition, he left the company in 2007.

“John’s investment is a resounding vote of confidence in the potential of Enact”

Prior to that, he was responsible for launching Ondigital, a joint-venture owned by Carlton and Granada (both ITV regional companies, now merged as ITV) and was operations director of that company for a year after the launch. Before that he was business affairs director of Carlton Television, which held the London weekday ITV franchise.

Egan commented: “Renewable and sustainable energy management is a tremendously exciting business sector and I am looking forward to bringing my experience of starting and building new businesses to Enact, as we look to help energy consumers across Cornwall and the UK become more energy aware and less dependent on centralised power generation.”

Steve Mundy, meanwhile, most recently managed the Southern African operations of Chubb, one of the world’s leading providers of fire and security solutions, where he transformed the business into a single integrated offering with significantly improved profitability and customer service.

Prior to this he was regional finance director for Chubb’s UK, Ireland and South African businesses.

Adrian Wright, founder and CEO of Enact said: “I am thrilled to welcome John and Steve onto the board and believe their experience and skills will be invaluable as the company moves into a phase of unprecedented growth driven by the Government’s new green initiatives.

“John’s investment is a resounding vote of confidence in the potential of Enact and in all of the staff that have helped to grow the company into the market leader it is today.”

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