IN BRIEF: An intelligent energy management solution that could cut energy bills by 25 per cent has been given funding through the Clean Energy Finance Corporation’s innovation fund.
The $5 million equity investment goes into Zen Ecosystems’ series B capital raising for further development and deployment of its Zen HQ and Zen Thermostat products.
The core products of Zen Ecosystems are the Zen Thermostat and Zen HQ. The Zen Thermostat is a smart thermostat that allows homes to remotely control and reduce their energy consumption. Zen HQ is designed for smaller footprint businesses as a low cost, easy-to-use cloud platform for managing energy-intensive assets across single and multiple sites.
“Traditionally, energy usage has been controlled by building management systems, which are usually only cost effective for large or industrial-use buildings,” Innovation Fund executive director Ben Gust said.
“Zen HQ is designed for smaller footprint businesses as a low cost, easy-to-use cloud platform for managing energy-intensive assets across single and multiple sites.”
In Australia, Zen HQ is already being used by commercial customers such as the RACV, while the Zen Thermostat is part of the Telstra Smart Home range. Further development is underway to enhance compatibility across the broad range of heating and cooling systems used in the Australian market.
We’ve already seen great traction in the market for our energy solutions and this round of growth capital, headed by the Clean Energy Innovation Fund, will enable us to aggressively expand our product roll out in both Australia and the USA,” Zen Ecosystems chief executive James McPhail said.
“There are huge market segments, including retail chains with large portfolios of small to medium- sized buildings, crying out for smart, simple control of HVAC systems to reduce energy, peak load and maintenance costs, and Zen HQ is a simple and affordable solution to meet those needs.”