The two-year research and development project is worth £900,000 of which 50% will be funded by the European funding and support programme Eurostars, a joint programme between EUREKA and the European Commission.
Through connected hardware and software that will both monitor and control energy usage, the analytical platform aims to help governments, councils, schools and commercial properties make significant savings by flagging when specific plant and machinery requires servicing, optimising efficiency of operation and reducing down time.
Both companies expect their cooperation to yield breakthrough technology to be commercialised at a price and footprint not previously imagined, meaning significant savings and fast returns on investment for companies globally.
In the UK alone there are a record 5.4 million private sector businesses, up 3% from 2014. Many of these properties have limited options for energy management with traditional Building Management Systems (BEMs) often only installed at construction stage due to cabling and instrumentation which is complex, time-consuming and disruptive to business. One of the intended deliverables from the project is a system that will offer a low cost solution, easily retrofitted, to the millions of buildings that are currently being neglected.
Visit CSEM SA at www.csem.ch
Visit NetThings at www.netthings.co.uk