Efficiency tech firm’s revenue doubles

A technology firm which specialises in an energy monitoring device for homes and businesses says its revenue has more than doubled in the last year. Scottish firm Ewgeco announced today […]

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By Vicky Ellis

A technology firm which specialises in an energy monitoring device for homes and businesses says its revenue has more than doubled in the last year.

Scottish firm Ewgeco announced today revenue has leapt from from £350,000 in 2011/12 to £750,000 at the end of April 2013.

The news suggests keeping an eye on energy use is growing ever more important as energy bills continue to rise.

Ewgeco’s systems work by gathering real-time data from metering points and relaying it to an easy-to-read energy display. The displays use a traffic light system, which highlights where immediate improvements to energy efficiency can be made.

The firm has just won investment of half a million pounds from its existing investors Archangels Informal Investment and Scottish Enterprise’s Co-Investment Fund.

Ewgeco chief executive, George McGhee said the new cash would help the firm develop its products, “to meet the future needs of modern homes and businesses – driving business growth both in the UK and overseas.”