Many businesses struggle with inefficient energy usage, which not only leads to substantial financial burdens but also contributes to environmental degradation.
xWatts addresses the significant challenge of high energy costs and emissions faced by large commercial and industrial facilities.
Traditional energy management systems often fall short of providing the necessary insights and control to optimise energy consumption effectively. xWatts’ intelligent energy management systems fill this gap by offering continuous analysis of usage patterns, environmental conditions, and market data. This allows businesses to automate and optimise their electricity consumption, reducing waste and lowering operational costs.
By integrating seamlessly with existing building management systems, xWatts empowers building owners to take direct control of their distributed energy assets. This not only results in significant savings on energy bills but also helps businesses meet stringent ESG (Environmental, Social, and Governance) objectives, thereby contributing to a more sustainable and responsible future.
“Now more than ever, commercial and industrial businesses need to focus on improving their energy management. Running their buildings accounts for 30% of global final energy consumption and 26% of global energy-related emissions.”
Optimising systems and operations through AI
xWatts helps engineers improve day-to-day operations by reducing the manual work required to plan and calculate complex operations and by assisting them in making their operations more predictable and profitable. By evaluating various inputs such as energy demand, energy market data and environmental forecasts, xWatts predicts more efficient ways to manage energy consumption and generation.
Through machine learning, physics-based modelling and advanced mathematical methods, the spinout’s software provides day-ahead optimisation to improve the performance of energy consumption and generation assets to maximise profitability.
“xWatts is uniquely positioned to help businesses significantly reduce carbon emissions whilst also making their operations more profitable.”
Alexander Allen
xWatts platform interface
Designed to help commercial buildings reduce costs and emissions, systems optimised include Heating, Ventilation, Air Conditioning (HVAC), Cogeneration (CHP), and Solar and Battery Storage assets.
Co-founded by Alexander Allen from the Department of Engineering and Yigit Akar from the Cambridge Judge Business School, their solutions are particularly beneficial for large commercial and industrial facilities, offering a return on investment through predictive control and automation.
Earlier this year, xWatts closed a £1.8M pre-seed round with participation from Antler, Cambridge Enterprise Ventures, Parkwalk Advisors, R42 Group, Cambridge Angels of the University of Cambridge, and 16 other angels. This funding will help xWatts expand its energy management software across the UK, Europe, and the Middle East, enabling large commercial and industrial facilities to save up to 25-40% on their massive energy bills. Additionally, this can assist businesses in meeting their ESG objectives.
Image credits: xWatts, Unsplash
