Simble wins UK government grant for analytics app
Simble Solutions (ASX:SIS), along with Cambridge Architectural Research Limited, has been awarded a £383,000 (A$680,000) UK government grant from the Department for Business, Energy & Industrial Strategy (BEIS) as part of a funding scheme to support energy efficiency projects in UK homes.
The UK Government funding will be received as part of the Smart Meter Enabled Thermal Efficiency Ratings (SMETER) Innovation Programme.
The program aims to develop, test and demonstrate technologies that measure the thermal performance of homes using smart meter and other data.
Working closely as partners on the project, the two companies were chosen to provide an innovative solution that helps consumers, energy suppliers and policy-makers to save energy, reduce bills and carbon emissions by providing a better understanding of the energy efficiency of homes.
The funding will be used to advance SIS’s Virtual Analytics App and its powerful Big Data infrastructure to meet the objectives of the UK government’s program.
The ASX small cap’s Virtual Analytics is a disruptive energy platform that ingests smart meter data from the Data Communications Company (DCC) and runs advanced algorithms in the cloud to offer smart analytics to the end-user.
“Being recognised by the UK Government as a leader in innovation is a great honour and a strong validation of our IP,” SIS CEO, Fadi Geha, said of the newly awarded contract.
“We look forward to working alongside Cambridge Architectural Research to help the UK Government achieve its Clean Growth Strategy objective to grow the economy while reducing greenhouse gas emissions to which it has committed to invest around £3.6 billion.
“Using our innovative technology solutions, we enable UK households to be more energy efficient and reduce costs.”
“This is a really exciting project that has the potential to revolutionise work aimed at cutting carbon emissions from homes,” Jason Palmer, director at Cambridge Architectural Research, said.
“CAR has been working with the UK Government to improve energy efficiency in homes for more than ten years, and Simble has complementary skills that align very closely to making the most of smart-meter data.”
In November, SIS launched its disruptive Virtual Analytics app into the UK residential market. The app was presented at Utiligroup’s Innovation Showcase alongside the European Utility Week 2018 in Vienna, Austria.
Short-term positions in small, early stage ASX companies,
with high potential and near term price catalysts.
Focusing on resource exploration, early-stage tech, and biotech.
Exceptional opportunities across a broad range of
early-stage growth sectors with strong management.
Seeking 1,000% plus returns across medium to long-term holds.
Longer-term positions in a variety of sectors.
Seeking strong management where traction is established and have entered into a growth phase.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.