Equiwatt raises funds to expand energy management platform

Gateshead-based equiwatt has raised £700k in funding from the North East Venture Fund (which is supported by the European Regional Development Fund and managed by Mercia Ventures) and private investors.

The company provides a free consumer app that allows businesses and householders to take part in demand flexibility schemes designed to take pressure off the country’s energy grid at peak times (earning points – redeemable for gift vouchers or charity donations – as they do).

It partners with energy suppliers to help them roll out loyalty schemes tied to energy usage reduction (handling energy market trading and flexibility market grid event management) – enabling them to access the National Energy System Operator (NESO)’s Demand Flexibility Scheme (DFS) through the equiwatt app itself, or by using the tech as a white-label solution. equiwatt intends to use the new funds to roll out a new SaaS platform for utility companies and low-carbon tech manufactures.

Reduction in consumption of any and all energy, as well as the transition to low-carbon alternatives, is an important part of the UK’s net zero journey. Data from TechMarketView’s upcoming Sustainability Technology Activity Index shows that, worldwide, the Energy sector is the most active in terms of sustainability-related activity at the moment (accounting for 21.6% of all activities logged by the Index in 2024, in third place behind Professional Services – accounting much of the work in ESG reporting – and Manufacturing).

Look out for the latest Sustainability Technology Activity Index reports, coming soon – with in-depth analysis of the global picture (segmented by sector, use case area, and technology) and what the activity trends are telling us in uncertain times, plus deep dives into the UK market specifically. This research is available only to subscribers of SustainabilityViews. If you are not yet a subscriber, or are unsure if your company has a subscription, please contact Belinda Tewson to find out how you can gain access.

Posted by: Craig Wentworth at 09:58

Tags: funding   energy   NESO