Oxford University’s Environmental Change Institute has launched its first spin-off company, which will market online software to help small businesses cut their energy usage.

Developed as part of a UK Energy Research Centre (UKERC) project, Pilio Limited say their sMeasure technology can cut 40% off SMEs’ energy bills. The technology monitors and analyses a building’s energy efficiency by combining gas and electricity meter readings with weather data.

Dr Russell Layberry of the Lower Carbon Futures Team who developed the project said: “Energy bills and squeezed margins push energy efficiency up the agenda. We feel this can help businesses both in the UK and worldwide to meet their commitments to sustainability and corporate responsibility.”

Businesses which have already made use of sMeasure include the Royal Albert Hall, Greater London Authority and Severn Eye Energy Agency.