Name: Flow Energy
Date founded: 2013
Founder: Tony Stiff
Flow Energy is able to stand out in the energy sector with a disruptive model that combines home energy supply with microgeneration technology, which allows generation of heat on a small scale rather than a model that uses a high amount of power.
The innovative combination can be found in the company’s patented Flow boiler, which uses gas to heat the home while producing low cost, low carbon electricity at the same time to produce a benefit of around £500 annually.
In fact, Flow claims its boiler generate electricity three times more efficiently than a large power station and noted one can be turned off for every 500,000 Flow boilers installed. Taking the mission to support the environment one step further, the company added that each household to install one of its devices reduces carbon emissions by 1,000kg – equivalent to driving 4,000 miles in an average British car.
Product popularity was witnessed just seven weeks after launching at the start of April 2013, as the company hit the milestone for 10,000 customers within seven weeks – by the end of June 2013, that number had hit 36,000.
Tony Stiff, CEO of Flow Energy, said: “There are 220 million boilers in the UK, Europe, and the US – it’s a huge market. We think that we have an opportunity to become the de facto heating system of choice – a chance of becoming the Google of the energy industry.
“The product is low carbon – it’s not green, because it’s not a renewable technology, but what it does is use gas more efficiently. We see this as a transition technology. We all want to move towards a renewable world, but in reality it’s not there yet. So we’ve got gas, let’s use it more efficiently.
“If you look at high street shops, hairdressers, small offices – that would be our target market. Everyone’s looking at reducing their energy bills.”
The firm describes its movement as a “genuine revolution in home heating and home energy” and revealed plans to introduce hundreds of thousands of boilers globally in the next few years.
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