An Australian energy tech startup is celebrating its first big international gig, after signing a “multi-million” dollar deal with a Japanese utility company.
Sydney’s CoZero has revealed to Business Insider a three-year deal that will see its energy-saving platform EnergyLink rolled out to Japanese electricity provider Ennet’s 24,000 customers.
The cloud-based software tracks electricity consumption and uses machine learning to calculate ways to bring down consumption and costs. The company claims EnergyLink has achieved savings of up to 30% in past cases.
“This deal with Ennet is a significant milestone for CoZero as the world moves toward smarter energy solutions,” said CoZero chief executive Geoffrey Alexander, adding that Ennet expands his company’s market reach to “thousands of sites”.
The precise value of the agreement was not disclosed.
CoZero was reportedly shortlisted alongside a US tech company but eventually won out. The EnergyLink platform is already used at Australian sites such as Stockland, Mirvac, Novotel and the Sydney Theatre Company.
In April, Japan became one of the first countries to fully deregulate its energy market, according to a CoZero spokesperson, putting a ¥7.5 trillion (AU$89 billion) market up for grabs.
Ennet itself is a newcomer in that environment, being established as a joint venture between three conventional energy providers with a mission to deliver low-cost electricity “through a combination of IT and energy technology”.
CoZero was originally established in 2011 as the creator of a software platform for solar panel installers. Since 2013, the company has focused its efforts on energy management software.
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