In-home electricity monitoring is a boom sector, and Navetas is the firm leading the way. The Suffolk-based firm builds and sells energy consumption monitoring devices, as well as writing apps and software to allow for the smart management of power.
For utility companies, Navetas offers itemised billing and real-time energy monitoring at an individual appliance level, so energy in the home and demand across the grid can be managed effectively.
Navetas has grown from a concept developed at the University of Oxford into an intelligent energy management technology provider. It’s raised £7m in previous funding rounds from Swarraton Partners, Naxos Capital and the University of Oxford.
In April 2012, the potential of Navetas’ technology was recognised with new strategic investment from Sensus, a leading US utility infrastructure company. The £5m investment, for a 15 per cent stake, will be used 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, and to develop new energy management data analytics systems and services in the UK and Europe.