Measurable.energy, a clean tech company based in the UK, has successfully raised £4 million to further its expansion across the UK and international markets. The company aims to address the pressing issue of energy waste, which significantly impacts carbon emissions and energy costs. By leveraging its innovative AI-powered technology, Measurable.energy is positioning itself to take a leading role in the clean tech industry, focusing on reducing electricity consumption in businesses worldwide.
In recent years, Measurable.energy has demonstrated significant growth and innovation in the clean tech sector. The company’s initial funding from Clean Growth Fund in January 2023 marked a turning point, allowing it to secure substantial commercial agreements and expand its revenue tenfold. This rapid progress highlights Measurable.energy’s ability to capitalize on the increasing demand for energy-efficient solutions in various sectors, including construction and commercial real estate.
What are the funding details?
The recent funding round was co-led by Vertex Exploratory Fund and Clean Growth Fund. Other participants included existing investors such as Bonheur ASA/Fred Olsen, RO Capital Partners, Vectr7, and Roger Ferguson from Alphabet Inc. With this new injection of capital, Measurable.energy plans to accelerate its international growth, particularly in Southeast Asia, and gear up for a Series B round in 2025. This strategic move will enhance the company’s ability to offer solutions that cut electricity costs and carbon emissions by up to 50%.
How does the technology work?
Measurable.energy provides smart socket technology powered by AI, designed to monitor and manage energy usage at the device level. The system uses sensors to detect idle devices, automatically cutting power to reduce unnecessary consumption. This process helps businesses significantly lower energy bills and emissions, and companies can potentially see a return on investment within 21 days. This advanced technology targets idle devices, which can account for a significant portion of wasted energy in offices.
The company’s technology is not only gaining traction in traditional sectors like construction and commercial real estate, but is also attracting interest from public sector organizations, hospitality, university campuses, and NHS hospitals. This indicates a broadening market reach as more industries recognize the benefits of reducing energy waste through smart technology.
Measurable.energy’s leadership team has been reinforced with strategic hires, including Karen Bach as Chair and Dave Wardell as Chief Commercial Officer, to support its ambitious growth plans. Dan Williams, the co-founder and CEO, has played a pivotal role since 2018 in steering the company through its development phases and into its current growth trajectory.
The Clean Growth Fund, launched in 2020, has invested in early-stage companies focused on reducing carbon emissions across various sectors. By supporting Measurable.energy, it continues to drive the adoption of clean technologies, contributing to the UK’s net-zero by 2050 objective while fostering job creation. Vertex Exploratory Fund’s involvement indicates a strong commitment to advancing clean tech innovations that align with global sustainability goals.
Measurable.energy is advancing in the clean tech industry by providing AI-driven solutions to energy waste challenges. As businesses strive to reduce their carbon footprints, technologies like Measurable.energy’s offer a viable path to achieving energy efficiency. With its expanding market presence and strategic partnerships, the company is well-positioned to make a significant impact on global energy consumption practices.
