Clean-tech company Wattwatchers is expanding production of its award-winning measurement technology that helps better manage energy use and costs.
Wattwatchers clamp-on internet device, advanced control analytics and cloud-hosted management interface provide data that shows where and when energy is being consumed in real time.
The multi-channel auditor device can be used to inform unaware customers of energy usage and identify energy waste or poor performance.
Wattwatchers technology can be used across residential, commercial, industrial and utility services because it works with a wide range of software applications. It potentially works alongside other smart technology applications, battery storage and microgrids to reduce energy consumption, encourage better energy saving habits and increase the ability to tap into locally generated rooftop solar.
Wattwatchers was founded in 2007 and has been working steadily since to develop, pilot and commercially launch its energy data technology. Last year it won the Australian Technologies Competition New Energy Award.
The CEFC is investing $2 million, through the Clean Energy Innovation Fund, as part of Wattwatchers $4 million 2016-17 Series A capital raising.
The first $2 million tranche is held by Renewable Energy Venture Capital fund (REVC), which is independently managed by Southern Cross Venture Partners (SXVP) for co-funders the Australian Renewable Energy Agency (ARENA) and Softbank China.
The CEFC finance will help the Sydney-based company lift its production volumes and drive down production costs.
While expanding its local production, Wattwatchers is also looking to expand in international markets, with pilots already under way in New Zealand the US, UK, Malaysia and the Philippines.