Eneco Group invests in British smart data company ONZO
Sustainable energy company Eneco Group has acquired a minority interest in UK-based data analytics company ONZO, as announced by both companies today. The investment supports Eneco Group's ambition to accelerate the energy transition by means of technology.
Data analytics software company ONZO, located in London, has developed a software platform that uses data generated by smart energy meters and IoT technology devices such as smart thermostats, to recognise and analyse home energy consumption. The company offers its software platform and service to energy companies around the globe that use the customer insight generated by ONZO’s technology to provide a personalised service to their customers. Energy companies can offer this service to their customers by means of an app. In combination with personalised energy saving tips, such as 'consider replacing your old refrigerator with a more efficient model', the app helps consumers to reduce their energy consumption at home. ONZO's software is already deployed by utility companies in the US, Australia and Europe.
Joeri Kamp, managing director Smart Energy at Eneco Group: ‘Eneco Group aims to play a leading role in the progress towards the smart and sustainable energy home of the future. On the one hand by making our Toon thermostat platform the central 'heart' of this home and on the other hand by providing low-threshold and data-driven solutions, such as the smart-charging service developed by our subsidiary Jedlix. We believe that ONZO's expertise will be of great value in this area. Furthermore, we will focus on how we can strengthen ONZO's international position in line with our ambitions for the Toon platform.’
Steven Daniels, CEO of ONZO: ‘We have seen significant growth in customers using our technology as utilities around the globe look for new ways to differentiate from competitors, increase revenues and improve customer satisfaction. This transaction represents another significant milestone in ONZO’s journey to establish its platform as the world leader in energy data analytics. The team at ONZO are extremely excited about the investment made by Eneco and the opportunity to be associated with such a forward thinking and progressive company. This investment provides ONZO with a significant platform to further enhance our product set and to grow our International business presence.”
At the same time ONZO received further significant investment and ongoing support from their existing investors, West Coast Capital and Cipio Partners.ONZO and Eneco Group will not provide any financial details relating to this transaction.
ONZO combines the science of energy analytics with machine learning, load disaggregation, energy lifestyle behaviour analysis and probabilistic forecasting to give utilities and their customers unprecedented insights into how, where and when energy is used. Leveraging data generated by smart meters, ONZO’s patented algorithms result in richer, highly accurate, customer-specific insights that help utilities improve customer engagement and energy efficiency, while reducing churn and creating new revenue opportunities.
The company is headquartered in London, UK, with an office in the US, and works with clients all over the world.