Business Smart Meter News

UK Company develops revolutionary online smart meter system and receives investment to go Global.  Northampton based Intamac Systems (Intamac), which has developed a new “online smart meter” service that allows a remotely activated energy use management and control, has received a £4m investment from Carbon Trust Investments Ltd, Seraphim Capital and Chandos Fund (both managed by YFM).

The funding has been given to speed up the development process of Intamac’s web-based system, which will help households to monitor and manage home energy use online.  Right now the system is being developed for home use only but nothing stops it from expanding to businesses in the very near future.

The Government’s commitment to establishing a smart grid and roll out smart meters, lends urgency to the development of new technologies like those of Intamac which offer a step change from existing meters on the market.

Instead of simply monitoring energy usage, data can be fed back through the Intamac monitoring platform to the utility provider, which will allow for bills to be managed much more effectively. The modular design of its online platform also means easier adaptation to future developments like the introduction of new standards.

Itamac’s online smart metering technology will put consumers in control of their energy use as well as their carbon emissions, not to mention that it will also help reduce the cost of energy bills.

Kevin Meagher, founder and CEO of Intamac comments,

“Our revolutionary remote monitoring and control technology will transform the way people use energy in their homes, helping them cut carbon emissions and reduce utility bills. We are delighted to receive this funding to support our continued growth to become the global market leader.”

Adam Workman, Partner at CT Investment Partners LLP, which advises Carbon Trust Investments said:

“Intamac’s technology opens up a new level of energy management to consumers enabling greater energy efficiency and carbon savings in the home.  We’re delighted to be making this investment in a market that has huge potential for growth in the UK and abroad.”

About Intamac

Intamac Systems is a market leader in the integration and networking of devices within the connected home. Founded in 2000 and based in the UK, Intamac was the first company in the world to exploit cloud based computing to support the deployment of value added services to the Connected Home.

About The Carbon Trust & Carbon Trust Investments

The Carbon Trust is a not-for-profit company with the mission to accelerate the move to a low carbon economy, providing specialist support to business and the public sector to help cut carbon emissions, save energy and commercialise low carbon technologies.  By stimulating low carbon action we contribute to key UK goals of lower carbon emissions, the development of low carbon businesses, increased energy security and associated jobs.

Carbon Trust Investments Limited is the venture capital investment subsidiary of the Carbon Trust. Carbon Trust Investments has invested in 25 businesses over the last seven years. Two of these companies, Ceres Power PLC and CMR Fuel Cells PLC listed on AIM. A further portfolio company, Heliswirl Technology Ltd, has achieved a partial exit.

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