PassivSystems is using this first round of external finance to establish a major commercial partnership and launch its first commercial product in early 2010.
The PassivEnergy system is based around the PassivHub, which communicates wirelessly to internal and external temperature sensors and appliance controls installed around the home and via the internet to the PassivEnergy service.
PassivEnergy uses its adaptive occupancy control function to optimise energy use. Over time this function learns when the householder uses energy and when it can be saved. It then controls energy consumption across multiple devices in the home.
Colin Calder, founder and CEO of PassivSystems, said: “PassivEnergy will revolutionise how consumers manage energy in the home. We are confident that our ground breaking product will save the consumer up to 28% on their energy bills and make their homes more comfortable.”
WHEB Ventures, the European clean technology venture capital firm, has invested in PassivSystems.
James McNaught-Davis, managing partner of Wheb Ventures, said: ”We are delighted to be making our first investment in smart grid technology, the market for which is estimated to be worth €30bn over the next five years. PassivSystems has a unique offering which will form a critical part of the smart grid infrastructure and help householders to save money and cut carbon emissions.”
