geo has acquired the UK energy disaggregation specialist ONZO in its drive to develop a ‘whole home’ energy management solution.
The acquisition provides geo with both a complementary technology to its own and increased market penetration and reach for its energy management solutions as the pace accelerates to reduce carbon emissions in homes and businesses.
Both geo and ONZO were formed in the early days of the UK smart meter rollout in the drive to harness the data in energy awareness and energy saving solutions for consumers.
geo offers a range of products including in-home displays, smart thermostat and leak detection, with its technology being provided to around 50% of UK homes under the government’s smart meter rollout, as well as to tens of thousands of homes in the Netherlands and Nordics, according to a statement.
ONZO has specialised in energy disaggregation to device and appliance level from its start with a range of analytics based solutions. These are currently being used in approximately 250,000 homes in partnership with suppliers including Iberdrola, EDF and E.ON and with more than 7,000 new users joining monthly.
“Combining our two businesses adds real strength to geo’s expertise and extends our leadership in the Energy IoT and data science environments,” said Steve Cunningham, Chief Executive Officer of geo of the acquisition.
“It also allows us to provide even greater savings to the millions of geo and ONZO customers across Europe.”
At the heart of this vision is what geo calls its Whole Home Optimisation smart energy system, which the company intends to deploy across the UK and Europe. The solution uses machine learning for homes to automatically maximise energy savings by fully exploiting their energy tariff, whilst minimising waste and carbon emissions.
“It’s clear there is genuine synergy within the current product suite provided by both businesses, and a significant opportunity for future developments, that will benefit both geo and ONZO’s current and future customers,” said Rob Merrington, Managing Director of ONZO.
Further support for geo’s Whole Home Optimisation has been obtained in a funding round by investors Low Carbon Investment Fund, Schneider Electric and West Coast Capital.