Further Investment in Energy Management Technology Spun-out of Oxford
19 April 2012
Navetas Energy Management has secured £5m in strategic investment from Sensus, a leading utility infrastructure company offering smart meters and communication systems for the electric, gas, and water industries. The investment deal will see Sensus acquire a 15% stake in Navetas and an exclusive licence agreement for Navetas technology in the United States market.
Navetas will use the investment from US-based Sensus to make further advances in its unique, patented energy disaggregation technology and integrate this into the next generation smart meters produced by Sensus for the US market, due to launch in 2013.
The Navetas Energy Monitor which connects to the energy supply at a single point uses patented artificial intelligence and signal processing techniques developed over a number of years at the University of Oxford. The system analyses the electricity supply and calculates the power consumption of each appliance without the need for any other sensors. This information can then be communicated to the consumer through a variety of methods including local in-home displays, web portals and itemised billing services.
Navetas, founded in 2008, has already raised £7m in previous funding rounds from Swarraton Partners, Naxos Capital and the University of Oxford. Several trials of this disaggregation technology are currently under way with energy providers in the UK.
Intelligent Sustainable Energy Ltd was Isis’ 50th spin-out since 2000; the University of Oxford benefits from a share portfolio in excess of £35m in spin-out companies formed by Isis.
Further details available on the Navetas website.