New Oxford spin-out makes smart-metering smarter

04 December 2008

Isis Innovation, the University of Oxford’s technology transfer company, announced today that a new spin-out company has been formed based on technology developed at the University. Intelligent Sustainable Energy (ISE) has received funding from Navetas Energy Management to develop a smart metering technology.

The smart meter will allow households to monitor which individual appliances are consuming electricity in real-time and over time, delivering the data in a form most suited to the individual consumer such as a PC or mobile, or, for the first time, via itemised electricity bills.

The technology was developed by Dr Malcolm McCulloch and his colleague Jim Donaldson in Oxford’s Department of Engineering. Dr McCulloch explained that it is designed to identify both short and long-term energy savings, by providing information about specific appliances in a building: "For instance, if the amount of electricity your washing machine uses increases considerably, this might indicate that it will be more cost-effective and carbon-efficient to replace it. If there’s a spike in the amount used by the fridge, maybe the door has been left open."

Jim Donaldson, CTO and co-founder of ISE said: "Our aim is to give people the ability to gain control of their energy use, by measuring how changes in the way they use appliances can reduce their energy consumption on a day-to-day basis. The ISE smart meter is smarter than your average smart meter in that it can identify different appliances – including hardwired appliances like cookers or hot water heaters -- from their electricity use profiles, and feed that information back to the consumer.

The funding was provided by energy management company Navetas. Isis Innovation identified Navetas as being a key investor in order to successfully industrialise and commercialise the technology. Isis will exclusively licence the intellectual property behind the new smart metering technology to Intelligent Sustainable Energy.

Chris Shelley, Director of Navetas Energy Management said: "Navetas has a long standing interest in the development of technology which provides consumers with more information about their energy use and helps them to manage it with greater efficiency. Consumers need a device that provides information which they can actually act upon to reduce their energy consumption, and a smart meter that is clever enough to provide this level of useful detail.

"The technology is able to measure energy consumption of appliances in a household from a single point from the premises’ incoming mains supply.

"Navetas will play a role of more than just investors in this technology. We will also be providing commercial expertise in the field of energy management and smart metering."

A prototype ISE smart meter has been successfully tested at Oxford. The company plans to undertake further trials and refine the design to industrialise smart metering products and to offer licenses where appropriate to commercial partners in key territories. It anticipates that ISE intelligent smart meter technology will be on the market by 2010.

Intelligent Sustainable Energy’s formation brings the number of University of Oxford spin-outs to 70. The project had previously received funding for prototyping from Oxford’s University Challenge Seed Fund.

"The early funding organised through Isis was absolutely vital in moving ISE from clever idea to investable company," said Dr McCulloch.

For more information:

For more information on ISE or Navetas Energy Management Ltd please call Nick Wellington at Navetas
M +44 (0) 7989 176 964
E nick.wellington@navetas.com

Renate Krelle
Business Relationship Manager, Isis Innovation
T: +44 (0) 1865 280850
E: renate.krelle@isis.ox.ac.uk

About Isis Innovation Ltd

Isis Innovation is the University of Oxford’s technology transfer company. It provides researchers with commercial advice, funds patent applications and legal costs, negotiates exploitation and spin-out company agreements, and identifies and manages consultancy opportunities for University researchers. It is a subsidiary of the University of Oxford and has established itself as one of the best University technology transfer companies in the UK.
www.isis-innovation.com

About Navetas Energy Management

Navetas Energy Management Ltd is a global energy management company with significant experience in the field. Navetas aims to apply its knowledge in new and innovative ways to help business and consumers meet their energy management needs for the future. Some of the ways Navetas intends to help business and consumers is to identify and create new products and services; to select significantly differentiated small and medium sized energy management companies to partner and invest in, in order to create greater market reach; and to provide smart metering and energy management consultancy specialising in business case analysis and technology requirements. For more information on Navetas go to
www.navetas.com