A Gateshead software firm has secured funding from the Department for Energy Security and Net Zero to ramp up development of its innovative technology.
Equiwatt has been awarded more than £630,000 from the Energy Entrepreneurs Fund (EEF) through the Net Zero Innovation Portfolio (NZIP), to aid the expansion of its community of UK households that power its virtual power plant. The company's technology allows households to connect appliances and electric vehicles to its energy management system, using its free smartphone app and existing smart technology, including smart meters. It enables both homes and energy companies to reduce the costs and carbon footprint of peak-time home energy use.
Equiwatt’s technology is creating a growing network of connected homes, that collectively act together to help create a more efficient and flexible energy system. When demand on the grid is high, users are notified to take part in energy saving events, called ‘equivents’, during which they switch off or avoid the use of high energy use devices.
