CEFC Invests $2M in Wattwatchers’ Award-Winning Measurement Device

Wattwatchers is an Australian cleantech that develops and markets “IoT for energy” hardware, firmware, and software solutions to precisely monitor, review, and manage electrical circuits in real-time over the
Internet.
Ian Learmonth, the CEO of CEFC stated that the expensive costs of energy and rooftop solar’s high domestic consumption give an opportunity to “work smarter with energy.”
“We are supporting the development of an innovative electricity market that hands Australian households and businesses the opportunity to get more control over the way that they consume and produce energy. Wattwatchers represents what we expect will be the first wave of innovative behind-the-meter technologies that can provide ongoing savings for householders and businesses, while delivering information that can also improve the security and stability in the supply of energy from the grid,” Learmonth said.
The investment of CEFC in Wattwatchers is part of the clean-tech firm’s $4 million 2017 Series A capital raising.
According to Blair Pritchard, CEFC Investment Development Director, the funding from CEFC would support Wattwatchers in boosting production volumes and lessening the production costs. “The Wattwatchers technology is small and very smart. The clamp-on internet device, working with a choice of cloud-hosted management interfaces, provides data that shows where and when energy is being consumed in real time,” Pritchard stated.
“We see Wattwatchers as a business that will complement other technologies to help Australians understand how they can consume energy at least cost. We also see real-time data access as an important development for rooftop solar owners looking to better manage their systems and on-site consumption. This means they can reap the most benefits from their own energy production, as well as storage and generation into the grid,” he added.