UK start-up Navetas Energy Management has secured a £5 million investment from Sensus which will see its “disaggregation” technology being launched in the U.S. market.
Sensus will acquire a 15% stake in Navetas and a licence agreement where Navetas technology will be incorporated into the next generation smart meters for the US market in 2013.
The companies will also work together to grow the Navetas business through the launch of new energy management data analytics systems and services in the UK and Europe.
“The pace of change in the global energy market is rapid and this investment will allow Navetas to develop internationally, specifically in the U.S., and to deliver new and innovative technologies that will address the emerging market dynamics,” commented CEO Chris Saunders.
Navetas was founded in 2008 and has raised over £7 million in funding to transform a concept from the University of Oxford into intelligent technology that can monitor from a single point, how much energy is used by different appliances in the home and itemised bills which give customers detailed information on their energy usage. Several trials of this kind are under way in the UK at the present time with various energy providers.
The technology comprises of advanced software algorithms running on low power and low cost electronic hardware platform which can be integrated into a range of products. The algorithms take measurements at a single point on the electricity supply and via advanced signal processing and artificial intelligence techniques on the system, calculate the energy consumption of an individual appliance on the mains supply.