A Manchester-based energy monitoring start-up has received £670k from Innovate UK.
enee.io was awarded the cash through its Energy Catalyst 10 (EC10) grant and it will be used to integrate artificial intelligence and machine learning technology into its platform.
“We’re thrilled to have been awarded this grant from Innovate UK,” said David Smith, CEO of enee.io.
“This not only validates the hard work and mission of our team but also underlines our commitment to combating climate change. It’s a stepping stone towards our goal of delivering affordable, sustainable energy where it’s most crucial.”
The company aims to “revolutionise” energy management practices, to reduce costs for commercial and industrial users in regions with inadequate grid supply, with a particular focus on Nigeria.
enee.io will work alongside Manchester-based AI and ML specialist, Fuzzy Labs to develop its data processing capabilities, enabling its Nigerian partner, Aspire Power Solutions to implement advanced algorithms at 20 sites in Lagos. The AI-powered platform will use data from a number of sources, including local weather forecasts and live regional diesel costs, to accurately calculate the actual cost of energy.
“Partnering with Fuzzy Labs is going to transform the type of data we’re able to process and interpret,” explained Lynden Potter, enee.io’s Product & Operations specialist.
“Machine learning unlocks the true value for our customers, presenting them with a clear picture of how much energy they generate, and the actual costs incurred. We are fortunate to work with our new partners to significantly lower energy costs for our customers, ensuring they get the most out of their renewable power systems.”
It’s the second Innovate UK grant awarded to the tech start-up, which previously received a £600k grant via its Energy Catalyst 8 competition and over £1m of investment in funding rounds led by Green Angel Syndicate and US venture development firm Factor[e].
