Installing solar panels is a great way to reduce demand for fossil-fuel powered electricity, but thanks to Wattwatchers, you can now go one better. 

The Wattwatchers hardware and software devices link your electricity supply with your various appliances to create a smart home that’s vastly more energy efficient. 

The technology has caught the attention of Kilara Capital and the Clean Energy Finance Corporation (CEFC), who led the company’s Series B round to raise $5.3 million. (This follows the Series A total of $4 million which also involved the CEFC)

The asset will sit in Kilara Capital’s recently launched Growth Fund. 

“With the world rapidly moving on from large-scale thermal generation and one-way distribution of electricity, to large-scale renewables, smaller scale distributed generation and electrification of mobility, the investment from Kilara has come at an important time for Wattwatchers.” Says Ben Krasnostein, Managing Director of Kilara Capital.

“Wattwatchers has proved itself as an enduring and growing smart energy company in Australia – and globally. Our investment will take it to the next level as we seek to generate an excellent financial return, but also contribute significantly to the decarbonisation of the electricity grid.”

Real-time data sent back to the system analyses power usage by a range of appliances and can turn devices on or off to save power, money and pollution. 

They’ve deployed 50,000 devices in more than 20 countries, as they continue their mission for the decentralisation, digitalisation, decarbonisation and the democratisation of energy.

For each device installed, the company estimates it will reduce emissions by 1 tonne. The math isn’t hard, that’s a reduction of 50,000 tonnes of emissions so far. 

The company’s digital energy platform reached profitability in FY21, and they’ve now got their sites set on global domination with favourable energy market regulation in the UK, EU and USA.

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