A Dutch sustainable energy company has bought a minority interest in a data analytics firm based in the UK.

Eneco’s investment in ONZO supports its ambition to accelerate the energy transition through smart technology.

ONZO has developed a software platform which uses ‘Internet of Things’ data, generated by smart meters and smart thermostats, to analyse home energy consumption.

This information is used by energy companies to track data usage and offer insights and advice to consumers – an app is often used to provide personalised energy saving tips to help consumers to reduce their energy consumption at home.

ONZO’s software is already deployed by utility companies across the US, Australia and Europe.

Steven Daniels, CEO of ONZO, said: “This transaction represents another significant milestone in ONZO’s journey to establish its platform as the world leader in energy data analytics.

“This investment provides ONZO with a significant platform to further enhance our product set and to grow our international business presence.”