The transition to renewable energy is creating a decentralised, dynamic and highly volatile energy system. Large energy consumers, such as SMEs and industrial players, are increasingly facing the challenges of these developments. They are also faced with increased regulation and rising CO2 prices. The war in Ukraine and subsequent energy price spikes have added further uncertainty. Managing the cost and volatility of energy has become even more important and there is increasing pressure to implement intelligent systems to use and source energy more efficiently.
Encentive has developed a new generation of AI-powered energy management systems. Its flex-On platform enables SMEs and industrial customers to optimise the entire demand side. The flex-On platform is a digital solution that takes into account internal and external data from a company's existing asset infrastructure. On this basis, the system provides predictions and automatically executes optimisations and reacts in real time.
The core value proposition is to efficiently manage energy price volatility and reap the benefits of flexibility by combining local on-site optimisation (including own energy production from e.g. solar PV) with the exploitation of market opportunities through demand response. The flex-On platform is particularly targeted at industrial processes where cooling and heating are essential, such as logistics, food, chemicals and pharmaceuticals.
Why we invested
The market for energy and emissions management and optimisation for SMEs and industrial customers is huge and demand is growing rapidly. Reducing energy costs and optimising energy consumption has become a necessity for energy intensive SMEs.
Encentive has developed a technologically advanced solution that has been tested and refined with its first customers over the past few years. The company has been able to attract high profile customers and has demonstrated that it delivers massive value. The solution not only delivers significant cost savings, but also has an environmental impact by reducing emissions. The three founders have invested many years in research before developing Flex-On, giving them a technical competitive advantage.
We believe that competing solutions on the market are much less mature.