EDP invests in startup that uses the sun to save on water heating
The solution from Mixergy optimises the use of home-produced solar energy and is already available in the EDP Comercial portfolio. Initial pilot tests conducted with Portuguese families showed savings of up to 60% in the cost of the energy used to heat water.
EDP, through EDP Ventures, has just invested over EUR 1.7 million in Mixergy, a British startup that has developed an innovative solution that uses artificial intelligence to significantly reduce the cost of heating water.
Using machine learning techniques the Mixergy solution needs only two weeks to analyse the consumption patterns of each family and is then able to only heat the water required for daily household consumption, in the most economical manner for each occasion: At night, it uses electricity from the grid to ensure there is sufficient hot water to meet morning requirements. During the day, it uses the excess in solar energy production available to heat the water to be used over the following hours, making this heating free of cost and maximising the benefits of a self-consumption solar solution.
By investing in this startup and bringing this innovation to Portugal, EDP aims to support the development of solutions that accelerate energy efficiency and contribute to decarbonising the homes, making families' consumption cheaper and more sustainable.
This solution has just reached the Portuguese market through EDP Comercial, which conducted pilot tests with families in Lisbon, Porto, Braga and Setúbal. The first results show savings of up to 60% in the energy used to heat water, which could be even higher in a house that previously used gas water heating equipment.
In addition to the financial savings, Mixergy's solution is 10 times faster heating water than a conventional water heater and separates hot and cold water, optimising the energy efficiency of that home and reducing the household's carbon footprint. The EDP – Mixergy solar water heater is monitored using an app. No human intervention is required to achieve the best results. By behaving like awater battery for homes, the solution maximises the use of renewable energy sources for self-consumption, significantly reducing the energy injected into the network.
By investing in the British company Mixergy, EDP Ventures is supporting the expansion of this startup and accelerating its role in the decarbonisation of the residential sector. EDP Ventures currently has 39 companies in its portfolio and has already invested EUR 57 million in startups from 11 countries. It is committed to strengthening its investment in companies with innovative solutions for decarbonisation and the energy transition with ideas and products that have been tested and are in the phase where they can be scaled up to commercial solutions.
About Mixergy
Mixergy develops smart, connected hot water tanks that enable families to live better, save money and reduce their impact on the environment. We are rethinking how hot water is prepared, using technology to find affordable and convenient solutions that help people live more sustainably. In addition to mass deployment of our smart hot water tanks across the UK and Europe, we are also the first to intelligently connect a decentralized, digital network of tanks that can bring flexibility to the electricity grid and support the transition to clean energy. As we look to the future to 2030, our aim is to provide a clear path to transition from fossil fuel heating to low or zero carbon alternatives, enabling us to achieve our vision of making hot water cheaper, greener and better for everyone.
