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Equiwatt gets funding boost to power energy saving work

A firm helping ease national grid demand has secured Government funding to power forward its work.

Equiwatt is being supported by the Department for Energy Security and Net Zero to scale its peak energy usage reduction technology.

The company has received more than £630,000 to help expand its energy management system, which households can use – via a smartphone app or other smart technology – to monitor appliance and electric vehicle use.

When demand is high, users are alerted to take part in energy saving events, known as ‘equivents’, during which they switch off or avoid using power-intensive devices.

Households are rewarded with points according to their savings, which can be redeemed for e-gift vouchers with the likes of Amazon, John Lewis and Asda.

Dr Johnson Fernandes, chief executive, said: “We are proud to receive this funding, which will accelerate our work to help create a more flexible and efficient UK energy system for all.

“With this funding, we can further grow our community and demonstrate our model is commercially viable at large scales.

“When integrated into energy companies’ operations, we can help many thousands of people reduce their energy bills and support our collective ambitions to live in a net-zero world.”

February 15, 2023

  • Technology

Created by North East Times