Onzo announces an increased investment and focus in Smart Energy Data Analytics
London, UK, Nov 29, 2012 (PRWeb.com via COMTEX) --
Onzo Ltd., one of the world leaders in smart energy analytics, today announced an increased focus and new investment in its data analytics business, following the successful sale of its hardware and digital delivery division to Scottish & Southern Energy (SSE).
Onzo is acknowledged as the leader in energy disaggregation, having developed robust algorithms which are used to extract individual appliance usage information and consumption from electricity consumption data. The sale of its award winning in-home display business to SSE allows Onzo to further expand its development of consumer and utility insight software modules, working with major systems integrators and industry partners to help utilities gain value from the tsunami of data that they will receive from smart meters.
The IP-rich analytics portfolio within Onzo, coupled with one of the world's largest energy datasets and close to four years development work, has provided it with a unique energy knowledgebase, recognised as a world class asset within big data energy analytics. Onzo's insight solutions are behind SSE's successful iPlan tariff, which collects high resolution data from a large and growing installed base of domestic energy customers. The new investment by existing investors Cipio Partners and Sigma Capital will allow Onzo to double the size of its analytics staff and accelerate the go-to-market for its core analytics solutions.
"When Onzo was first founded, its goal was to become the leading provider of insight to the utility industry", said Joel Hagan, CEO of Onzo. "In the early years we struggled to obtain data, which is why we diversified to develop our own range of sensors and displays. With the progress in smart metering, which is starting to produce a real flow of user energy data, this is the ideal time to refocus on that original goal."
Onzo's Insight Services are aimed at extracting value from the new flows of smart metering data, both for consumers and their energy suppliers. Utilising time series and unstructured data, these insight modules include appliance inference, smart billing, tariff optimisation and customer services support and are supplied to utilities and their MDM partners. Onzo's solutions have shown to sustainably reduce household energy consumption by between 8-12% and help utilities to better serve their customers.
"Onzo has always been about big data", said Nick Hunn, CTO. "With a knowledgebase of trillions of domestic energy readings we can bring a level of insight to smart metering data which is unrivalled within the industry. Utilities are struggling with the move from a few readings per year per customer to a new world that can produce thousands of readings every day. We have the tools to help them and their partners reap the real rewards of their smart metering deployments."
"We invested in Onzo because of its unique positioning in the emerging market of energy data analytics software", said Christoph Wedegaertner from Cipio Partners. "SSE's acquisition of Onzo's hardware division underpins the importance for utilities to differentiate in a smart meter world and helps Onzo focus on its core expertise and vision in software analytics. We look forward to supporting the company in building out its leadership position in this exciting market."
Onzo is a global leader in big data and analytics for utilities. Onzo delivers valuable insight from the analysis of energy use and other data, transforming customer relationships, improving energy efficiency, shifting peak demand, offering new energy services and reducing operational costs.
Onzo's unique approach combines utility sector experience with an advanced capability in data analytics to create smart solutions for consumer and supplier. Onzo's algorithms are capable of handling different data resolutions from monthly to one-second reads, and can process trillions of data readings, extracting valuable insights, including the identification of individual appliances from whole house data.
For more information please visit http://www.onzo.com
Contact: Nick Hunn nick(dot)hunn(at)onzo(dot)com
About Cipio Partners
Cipio Partners is a leading investment management and advisory firm in the Secondary Directs market. Founded in 2003, Cipio Partners manages an international portfolio of growth investments from offices in Luxembourg, Munich and San Jose, CA. Further information is available at http://www.cipiopartners.com.
About Sigma Capital Group plc
Sigma Capital Group plc is an AIM listed finance, property and urban regeneration specialist with offices in Edinburgh, Manchester and Birmingham. As part of its finance activities, Sigma Capital Group plc also manages four venture funds invested in the renewable energy and technology sectors. Further information is available at http://www.sigmacapital.co.uk.
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