Energy & Utilities | Technology

Australian “internet of things” energy company Wattwatchers has raised $2M for innovation start-up

4 May 2017, by Informa Insights

Australian “internet of things” energy company Wattwatchers has raised $2 million towards its mission to put home and business electricity data back in the hands of consumers, allowing them to cut costs and better match solar and storage to their energy needs.

 

The NSW-based company said on Wednesday that it had received a $2 million investment from the Southern Cross Renewable Energy Venture Capital fund (REVC), a green investment vehicle purpose-built by Softbank China Capital and ARENA, and managed independently by private funds manager Southern Cross Venture Partners (SXVP).

 

Wattwatchers – which is best known for its award-winning “clamp-on” Auditor device, which gives consumers web-based, real-time energy monitoring and control – says it will use the money to accelerate uptake of the ultra-compact, super-smart devices.

 

The company’s CEO, Gavin Dietz – who will be speaking at RenewEconomy’s Innovation & Start-ups in the Energy Sector conference in Sydney in May – said the investment would help propel the core Wattwatchers philosophy: that consumers should own their own energy data, control who has access to it, and benefit financially from anyone else using it.

 

Beyond the consumer, Deitz notes the company’s technology has major benefits for energy markets and grid operators, offering real-time visibility down to circuit-level, and boosting their ability to manage electricity system crises, such as during the 2016/17 summer heat wave events.

 

Wattwatchers also has an ambitious global expansion agenda, its products now certified for use in NZ, the US and Canada, as well as Australia, and with the UK and EU pending.

 

Wattwatchers CEO Gavin Dietz will be presenting at the Innovation & Start-ups in the Energy Sector conference, that is being co-presented by RenewEconomy and Informa in Sydney, May 8-9.

 

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This above is a synopsis of the original article from RenewEconomy.

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