The World Economic Forum has picked a UK ‘smart’ home energy management firm as a 2013 Tech Pioneer, naming it one of the “world’s most innovative technology start-ups”.

Every year WEF recognises pioneering tech firms for innovation in IT, energy and environment and health. Yesterday it picked 23 industry-changing companies for their potential to transform the future of business and society.

Previous winners include Mozilla Corporation which is behind the commonly used web browser and the file-sharing service DropBox.

Colin Calder, founder and CEO of PassivSystems, one of only three UK firms to be picked this year alongside solar firm Azuri Technologies and a social online gaming firm Mind Candy, suggested a new “digital revolution” was in store for the energy sector.

He said: “We have shown that the technology is available today to create reductions of up to 40% in home energy use without impacting comfort…The energy sector and policy-makers urgently need to catch up with this frontier and set their eyes on the future rather than be limited by the worn-out models of the past.”