The latest spin-out from Oxford University, Pilio Limited, provides a cost-effective online tool enabling small and medium businesses to monitor and manage their energy usage, potentially saving up to 40 per cent of their energy budget.
The company was spun out of Isis Innovation, the Universitys technology commercialisation company today. It is the first company to graduate from the Isis Software Incubator.
Pilios online energy monitoring tool, sMeasure, was developed and piloted at the Universitys Environmental Change Institute. It has been available online for three years, and in the last year has been used by over 400 businesses to monitor their energy use.
sMeasure works by combining two sets of data: gas and electricity meter readings provided by the customer and weather data, to accurately assess a building's energy efficiency. It requires no additional meters or devices.
Pilio CEO Catherine Bottrill said: "Energy costs are going up significantly this winter. Many businesses will be looking for a way to save money.
"sMeasure allows companies to implement their environmental and energy policy. We have kept the cost for our customers low at a subscription of £120 a year per building. Using the tool requires only 5 minutes a week to input meter readings.
"sMeasure helps companies to use their own common sense to stop energy being wasted in their buildings. They can look at their patterns of energy use over time so they can spot peaks, troughs and abnormalities, which will alert them to problems with their building control settings or prompt them to carry out maintenance work."
Chief Executive of the Royal Albert Hall, Chris Cotton, said: "We have used sMeasure for the last 3 years. It is an inexpensive, simple to access and extremely effective tool to allow those running businesses get a snapshot of their energy consumption over a day, week or year and then take appropriate action to improve efficient use of energy."
Managing Director of Isis Innovation, Tom Hockaday, said: "Pilio, with sMeasure, is a great example of how Isis makes innovative technology from the University accessible for the benefit of business and the environment. Were delighted that Pilios service is already proving its value, and that the company is now able to take the next step in its development."
Pilios UK clients include Greater Authority of London, Julies Bicycle, Ebico and Severn Wye Energy Agency. sMeasure is expanding into the US market as part of the Innovator Pilot Project with Sierra Business Council. This project is supported by Pacific Gas and Electric, the largest utility in the US. Over the next year, the company aims to increase the number of UK and US SMEs it works with four-fold.
Pilio has spent one year as part of the Isis Innovation Software Incubator, and has been supported by a £15,000 investment of working capital from the Oxford University Challenge Seed Fund, also managed by Isis. Companies can visit the Pilio website and get a free 30 day trial of sMeasure. No downloads or kit are necessary.
The company is named Pilio in reference to the butterfly effect whereby small changes can have a big impact. This symbolises the positive effect that informed energy usage could have on the environment.
Explore further: Harnessing tidal energy