Tech start-up enee.io receives £250k grant from Innovate UK
Manchester-based tech start-up enee.io has been awarded a £250k grant from Innovate UK’s Energy Catalyst 8 competition. The grant forms part of enee.io’s current round of fundraising and supports the development of a viable solution to improve access to energy in developing countries by reducing the cost of renewable power systems through improved battery life and performance.
The six-figure grant will enable the firm to further develop and commercialise its pioneering technology providing automated and remote monitoring of industrial battery systems used to provide power for commercial, industrial, and residential users. The securing of this latest grant comes just 12 months after receiving a £170k grant from Innovate UK’s Sustainable Innovation Fund.
enee.io’s system uses state-of-the-art IoT technologies, data analytics and cloud-based software to constantly and remotely monitor battery health, providing early identification of battery issues and allowing for preventive action to be taken.
This latest grant forms part of enee.io’s current fundraising activity supporting its product and commercial development over the next three years. The grant will assist in facilitating the employment of a further four full-time employees in software development, data analytics and customer support.
David Smith, Founder & CEO at enee.io said: “This is a major boost for enee.io. Receiving two rounds of funding from Innovate UK in less than a year is a real show of confidence in a product we believe will have a significant impact on both the future of industrial battery management in the UK and globally, particularly in developing economies.
“In Africa 450 million people still do not have access to any form of electricity supply. We hope to be able to contribute to bridging that gap by making renewable power more affordable and reliable.”
Dr Nicola Lazenby, Innovation Lead, Energy Catalyst, at Innovate UK said: “Through Energy Catalyst, Innovate UK provides funding to pioneers who are developing solutions that will help to close the energy access gap for millions of people.”