The European Utility Industry Awards are hosted during European Utility Week, in the evening of the 15th November. The awards recognise and celebrate individuals and projects that have shown outstanding commitment and accomplishments towards a sustainable energy sector. If you have any questions about submissions or voting, please contact us.

Octo

Everybody has a heating installation at home. Would you rather think about th system efficiency of this installation or sit back and watch TV? Our clients think the latter. They’re schools, hospitals or housing corporations that want to focus on their core business. but due to new laws, have to think about energy production as well. We have a solution. Our software can turn technicians into professional energy producers so that our clients don’t have to spend any time, knowledge or effort on it. We do this by collecting data from the building, running algorithms over it and automating communication with stakeholders. Our clients only have to sit back and watch how much money and polar bears they save. They can see it on their dashboard which works like Netflix for buildings.

What specific problem or need does Octo tackles?

1. Problem: Consumers don’t know what amount of money they need to pay for their energy consumption until the end of the year. This causal disconnection between usage and billing leads to a feeling of non-transparency.
a. Solution: With predictive analysis we inform energy consumers throughout the year that, if they keep their behaviour the same, they need to pay extra or will get money back at the end of the year. This enriches transparency, leads to efficient behaviour that reduces CO2 emissions. 

2. Problem: The administrative and technical process for people who produce and share energy themselves (smart-grid) is tedious, complicated and often not part of their core competence.
a. Solution: We offer them a complete, extremely easy to use monitoring tool of their energy production performance and we also take care of the total administrative billing process with their neighbours.

3. Problem: When do I need to buy a new installation? Do I wait until it breaks down and then del with the outage? Or do I replace it on its theoretical lifetime and risk a divestment?
a. Solution: We automatically calculate the performance based replacement date of installations. This reduces inefficiency, waste and CO2 emissions.
 
What is Octo's solution in terms of technology and business model?
1. Consumers are informed through our web portal or mobile APP, but are also actively warned by text messages or email when they appear to use more than what they pay for monthly.
2. The data we collect enables us to calculate and determine the performance of energy-systems in terms of financial, technical and environmental impact. 
3. Our software can communicate with existing ERP and CRM systems keeping the implementation impact to a minimum.

Total

110 Points

Submitted By

Submitted On

01 Jun 2016

Comments