The origins of Calisen's MAP business unit, Calvin Capital, can be traced back to Ofgem's decision in 2000 to introduce competition into the provision of gas and electricity metering. Since its first contracts in 2002, Calisen has grown into one of the largest independent MAPs in Britain. Subsequent contracts with both Big 6 and independent energy retailers have allowed Calisen to experience strong financial and meter growth, increasing the number of Calvin Capital's revenue-generating meters from approximately 3.5 million in 2011 (prior to the first installations of smart meters) to approximately 7.8 million as at 30 September 2019. With the advent of smart meters, Calisen's meter portfolio has gradually shifted over time from traditional meters to smart meters. All of the approximately 3.5 million meters owned by Calvin Capital in 2011 were traditional meters, but as at 30 September 2019, 3.1 million of its meters were traditional meters and 4.7 million meters were smart meters.
In August 2019, Calisen acquired Lowri Beck, which gave it complementary capabilities to carry out installation work using in-house personnel as well as the ability to offer MOP, MAM, meter reading and ancillary services. The Lowri Beck acquisition allows Calisen to enhance its offerings by providing its customers with a broader range of domestic metering services throughout the life-cycle of its meters. In line with Calisen's strategy, the Lowri Beck acquisition also provides a platform for the potential for future procurement, installation, ownership and management of a wider range of high-volume, small-value digital energy assets, such as energy storage and electric vehicle charging infrastructure.