Ignite, the UK's first corporate impact investment fund focused on energy and backed by Centrica, have invested £750,000 in Green Running to develop energy management technology.
Energy monitoring and management solutions provider, Green Running, is developing technology that promotes better energy management with an investment of £750,000 from Ignite. Better energy management not only saves energy and money, but cuts carbon too.
Green Running have developed technology that analyses electricity use at over a hundred thousand times per second. The technology learns patterns and anomalies that identify the consumption of different appliances and display it in real-time via an app. In doing so, wasted energy is highlighted in meaningful ways such as showing the top ten appliances that add most to people’s energy bills, enabling better insights that can reduce consumption, costs and carbon.
Ignite’s investment in Green Running will help the technology provider complement its commercial proposition, by developing and implementing a pilot aimed at alleviating the pressure of household energy bills for those who need a helping hand.
The pilot will focus on developing an effective user interface that provides suggested energy savings based on usage. By monitoring electricity generated from solar panels it will also enable people to shift usage to times when they receive free solar power. The investment will also help grow Green Running’s sales capacity.
While the pilot will be trialed with people in social housing, Green Running are committed to making the technology accessible to all residential energy customers, with particular focus on helping other vulnerable groups such as those living on fixed or low incomes, families with young children or the elderly.
Sam Salisbury, Investment Principal at Ignite said: “Showing energy use in real time and providing a meaningful breakdown to stimulate better energy behaviors via Green Running’s technology, really impressed us. We look forward to working closely with them to help enhance their positive social impact, now and in the future”
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