Ipswich, U.K. — (METERING.COM) — April 5, 2012 – British start-up Navetas Energy Management has secured a £5 million investment from Sensus, which will see its “disaggregation” technology being launched in the U.S. market.
The investment deal will result in Sensus acquiring a 15 percent stake in Navetas and an exclusive licence agreement under which the Navetas technology will be integrated into Sensus’s next generation smart meters for the U.S. market, due to launch in 2013.
The two companies will also work together to identify opportunities to grow the Navetas business both by acquisition and organically through the launch of new energy management data analytics systems and services in the U.K. and Europe.
Navetas, founded in 2008, raised £7 million in previous funding rounds from Swarraton Partners, Naxos Capital and the University of Oxford to transform a concept from the University of Oxford into an intelligent technology that can uniquely monitor, from a single point, how much energy is being used by different appliances in the home, providing consumers with intuitive energy consumption information through itemized bills and added value energy management services. Several trials of this disaggregation technology are currently under way with energy providers in the U.K.
“The pace of change in the global energy market is rapid and this investment will allow Navetas to develop internationally, specifically in the U.S., and to deliver new and innovative technologies that will address the emerging market dynamics,” commented CEO Chris Saunders.
Navetas’s technology solution consists of advanced software algorithms running on a low power, low cost electronic hardware platform which can be integrated into a range of products. These algorithms take measurements at a single point on the electricity supply and via advanced signal processing and artificial intelligence techniques the system then calculates the energy consumption of each individual device on the mains supply.