What Does eEnergy Do?
eEnergy enables organisations to transition to Net Zero through its Energy-Efficiency-As A Service (EEEAS) portfolio. The AIM listed group carries the Green Economy Mark, making it part of a growing list of companies that are driving the global green economy. Its portfolio includes Light-as-a-Service (LaaS) provider eLight, energy management business Beond and smart metering and analytics specialist MY ZeERO.
What’s the Market Opportunity for Energy Efficiency-as-a-Service and Light-as-a-Service Right Now?
There’s huge market opportunity for Energy Efficiency-as-a-Service (EEEAS). The global market size was $58.04 billion in 2019. And, it’s anticipated to expand at a CAGR of 14.6% between 2020 – 2027. The model enables organisations to replace old technologies that are emitting carbon dioxide with new technologies that are more efficient – and ultimately emit less. It’s not a one-off installation. It’s a subscription to install, use and maintain newer technologies. The best thing about the proposition is the equipment pays for itself through the cost of the energy saved.
There are legacy technologies everywhere that need upgrading. Of the 27,000 UK schools, somewhere between 20,000 and 23,000 have not upgraded their lighting from halogen or fluorescent. eLight, transitions schools and businesses to LED lighting through a subscription fee. It means, all the positive aspects of LED lighting can be realised immediately. Energy efficiency, operational improvements, energy cost reduction are all gained, without any upfront capital investment.
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Is the Energy Market Ready for Disruption?
The energy market is being disrupted from multiple angles – innovation is everywhere. However, climate strikes, Extinction Rebellion protests, the rise of climate campaigners like Greta Thunberg, and the recent UN IPCC report that spoke of a ‘code red for humanity’ are all signs that we need to do more. We’ve heard stories of ‘activist’ students that have taken out fluorescent tubes and walked with them into their headmaster’s office, demanding to know why the school has not changed to energy-efficient lighting. We need to grab everyone’s attention and compel them to act now.
Your Background is as an Entrepreneur in Technology Startups, How did you come to be CEO of an Energy Efficiency-as-a-Service Company?
Innovation in the energy market has never been more important – the future of our planet is at stake. That’s what made this sector so compelling to me – it made me want to jump in and help. It’s clear how Energy Efficiency-as-a-Service can make a real difference to reducing climate change.
And, it’s not a complete departure from my tech heritage. There is a strong tech aspect to eEnergy. MY ZeERO, for example, uses analytics to help schools and businesses spot how and where energy is being used. If we have the intelligence behind each watt of energy, we can quickly identify the hot spots of energy wastage, to help address them quicker.