Centrica’s impact investment fund is providing £200,000 to support an artificial intelligence (AI) start-up company.
Grid Edge has developed a cloud-based energy management software which uses AI to forecast the energy requirements of buildings over a four-hour period.
The system is expected to help reduce energy use in buildings by up to 25%, lower carbon emissions as well as energy bills.
The funding from Ignite will help turn the start-up into a commercial venture, creating four roles at its headquarters and three further positions planned by the end of the year.
Tom Anderson, Grid Edge CEO said: “This investment is a game-changer for us. We can now focus on accelerating our product development and establishing a real footprint in the commercial market.”