Countless SMEs around the world are struggling to cope with soaring energy prices. At the same time, Britain faces an incredibly important environmental challenge as the country aims to reduce its greenhouse gas emissions and meet net-zero targets by 2050.
With these challenges in mind, our purpose at OakTree Power is to enable businesses to reduce their overall energy consumption, ultimately cutting electricity costs and CO2 emissions. We’ve developed an IoT device supported by AI-based software that identifies a commercial or industrial property’s non-essential energy consumption, and then modulates usage for short periods of time without impacting performance whatsoever.
OakTree Power then uses these saved kilowatts to balance countries’ electricity networks at times of peak demand. The entire scheme not only reduces energy costs and CO2 emissions, but generates a new revenue stream for businesses.
This article was originally published by Best Startups UK.