UK smart heating start-up secures $100k funding

Ovon claims its technology can help consumers reduce their heating bills by up to 30%

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A Manchester-based start-up focused on smart heating systems has secured $100,000 (£81,526) of funding from a US power company.

Ovon has developed a system with smart radiator valves and micro thermostats to control the heating on a “room-by-room” level, which it claims could help reduce consumers’ heating bills by up to 30%.

The valve and thermostat work using wireless communication – each micro thermostat is paired with a valve, which means temperature is sensed remotely “and where a customer actually needs it”.

Ovon says this is different to other ‘smart’ valves “which monitor at the valve, leading to incorrect measurements because they’re just too close to the radiator”.

The micro-thermostat also senses humidity and monitors the environment in homes, altering consumers of air quality problems.

In addition, the valves don’t require batteries due to its energy harvesting system, whereby the valves self-charge from the ambient heat.

COO Tom Timothy told ELN: “On top of these aspects, we utilise an app based interface that links into a cloud-based system, featuring self-learning algorithms. This means the system will optimise over time and respond to your habits. We estimate therefore a customer can save up to 30% off their heating bills through use of our smart valves.”

The funding secured from Ameren’s Accelerator Programme will enable Ovon to take the product to mass manufacture and expects to launch in both the US and Europe within the next year.