Software could be upgraded remotely as new appliances come to market. Carey expects to license the technology as a front-end to utility companies who would want the whole data, so they could serve it to their customers in a bespoke way with their branding.
"Our solution generates about ten times as much data as today's current metering data, they'll want that data in their system where they already manage all their customers' data" noted the managing director. "They could issue bills split out by the percentage of the different appliances running in the home, so customers would get a much better understanding of their energy spending".
Carey is well aware that the smart meter market is already quite mature, with roll-outs well underway in various European countries.
"But the good news is that there are a lot of markets in the world that have not rolled smart meters yet, so it is still worth doing" he says. Outside metering, 42 Technology is exploring another commercial option, using Triple Ohm for predictive maintenance, to assess the condition of an appliance. "For an ageing motor or compressor in industrial monitoring, the problem is simpler. This could be done with an FPGA in low volumes".
42 Technology is looking for investors or partners willing to further develop the technology first to an FPGA then possibly to an ASIC for high volume commercialization.
42 Technology - www.42technology.com