Understanding where your energy comes from is a key link in the chain of moving to sustainable living.
The amazing developments over the last hundred years mean that a lot of people can plug their device into one of the many power points around them and power just comes out. But there is a lot that happens to get the energy from the source to the powerpoint for you.
Enosi has developed technology to understand what happens between those two points. Even if you're elected to have renewable electricity, you may still want to know what kind and from what location. Was it imported or exported?
With major tech companies and governments moving to 24/7 renewable energy, Enosi is looking to lead the movement to what they refer to as 'True Zero', as opposed to Net Zero. True Zero means 100% clean energy and you can read more thoughts on this here and here. The team at Enosi believe this is only possible through electricity traceability technology.
Enosi is initially targeting large enterprises and governments but also hoping to have products for households and smaller businesses that can support their use of lower cost, 100% clean energy.
Apart from clarity on the energy source, the data should also let customers get the best price. This could mean a lot of money for big companies.
Challenges
Enosi may not be a 'must have' for every business or household yet. It is a product that will immediately add value to a number of niches. However, most organisations are early in their exploration and management of carbon and electricity. This is typical for tech companies, requiring focus and patience as you mature along with the market.
The website says that Enosi is starting with Australia and then going global. Regulation and industry structure differences in each country, and in each state for big markets like the US. Enosi will have to manage the complexity that comes with it as it scales.
Enosi may also face competition from up and down the energy supply chain.
Highlights
This is a backend product and harder to evaluate, but this video from the team gives more of a sense of the key benefits;
From their website, they claim to have partnered with some solid names which suggests they have the backend tied together strongly enough. They include California Clean Energy Fund, Simply Energy, and Solar Analytics.
Report Card
- Team: Experienced, committed and commercial.
- Product: A clear product proposition with room for defensibility.
- Market: Big potential market globally, though
- Momentum: Big partners suggest they are gaining traction.
- Impact: Indirectly, Enosi can help people understand their energy sources and ensure they are renewable.
From The Founders
Company Name: Enosi
Themes: Grid, Energy, Reduce emissions
Summary: Energy tracing and trading platform across the grid
Product stage: Traction
Founder: Bill Barden
Capital raising: $A2.5m
Company mission:
Enable True Zero - 24/7 renewable energy. Enabling everyone to take action and benefit from cheaper renewable energy, improving the efficiency of the energy markets to correctly price the cost of carbon emissions.
Why the team wants to solve this problem:
Currently to take action on climate change costs money due to regulations either propagated by the coal industry or because the technology wasn't available. The technology is now here and we can help pass on the renewable savings to all end customers.
What other climate tech companies we admire:
https://boweryfarming.com/
https://lavo.com.au/
Image source: Photo by Thomas Kelley on Unsplash
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