• Elyos Energy: the platform for energy flexibility and demand response.
• It helps companies save costs and reduce carbon emissions by shifting electricity consumption outside of peak demand.
• Founded by Adrian Johnston, Philippa Brown, and Panos Stravopodis.
You know that moment when you're adulting, and you open your electricity bill, and it's like, "Whoa, when did all those zeros happen?" Yeah, we've all been there. That fantasy of living in your own home really vanishes into thin air, doesn't it?
Suddenly, it's not just about saving money; it's about being eco-friendly too. Talking specifically about the United Kingdom, electrification is at the core of the UK’s net zero strategy.
However, with the growth of renewable energy being pumped into the grid comes an intermittent and more volatile balance between supply and demand. This is causing big problems. Some new solar and wind sites are waiting up to 10 to 15 years to be connected because of a lack of capacity in the grid.
With the mass adoption of EVs, the increasingly urgent demand for air conditioning, and the electrification of heat, overall electricity demand is passing the transformation of the grid. Upgrading the grid could take 20 years, and this is time we just don’t have.
Elyos Energy comes into the picture
Elyos Energy is a London-based startup working on energy optimization for commercial buildings. Their platform uses machine learning to optimize energy consumption and automate participation in demand response markets for commercial properties.
Now, you might be thinking, "Sure, I've had my fair share of adulting and electricity bills, but how does that relate to big commercial buildings?" Well, let's take a step back. Just like us, these buildings are realizing the unpleasant and very unwelcome surprise that comes with their hefty electricity bills.
It's a whole different ball game, though, because commercial buildings make up a whopping 30% of the world's electricity consumption (according to the International Energy Agency).
Elyos Energy helps companies save costs and reduce carbon emissions by shifting electricity consumption outside of peak demand. They connect to smart thermostats, HVAC systems, batteries, and EV chargers to automatically lower consumption during peak times.
The company is helping to solve the problem of supply and demand with energy flexibility at scale, starting with the 1.6 million commercial buildings in the UK. Our SaaS platform enables large commercial buildings to leverage their distributed energy resources (smart thermostats, HVAC systems, solar, battery) to reduce strain on the grid at hours of peak demand and lower their energy costs.
We connect to a range of APIs from smart thermostats, HVAC systems, solar, battery, etc. to automate measures of energy consumption reduction and opt-in to national grid demand response events where customers can earn money for energy reduction. Elyos Energy is leveraging energy flexibility, at a mass-market scale to enable electrification of the energy system.
“By shifting 10% of the peak time consumption, businesses can typically save 15% on the electricity bill, and reduce their CO2 emissions by 7%,” says Adrian Johnston, cofounder of Elyos. “To put that into context, a medium-sized hotel could save $150k per year.”
Funding
London-based startup Elyos Energy has successfully raised £2.5 million in a seed funding round aimed at spearheading advancements in energy resilience. The company's ambitious vision involves establishing a novel energy system by introducing flexibility and demand response solutions to mass markets.
Electricity bills can leave you scratching your head, but Elyos Energy is here to turn the lights on for a brighter, greener future. It's a breath of fresh air in this ever-evolving energy landscape, offering a solution that's as smart as it is practical (even if it's not for us young adults).
Edited by Shruti Thapa