Upside Energy was named the Shell Springboard national winner 2017.
Founded in 2013 by Dr Graham Oakes, Matt Potts, Matt Fisher and Andy Molineux, Upside Energy has found a cheaper and greener way to meet the demands placed on the UK’s energy system.
The electricity grid is under stress. Retirement of thermal power plan reduces grid operators’ control over supply. Growth in renewable generation further increases volatility of supply. This creates an urgent need for more demand-side flexibility.
Upside Energy has developed a cloud-based platform to control electrical devices to provide this flexibility. Upside Cloud’s algorithms can orchestrate hundreds of thousands of devices in real time. By working direct with device manufacturers, Upside can integrate equipment that household and business sites already own, for example backup power supplies, electric vehicles and heating systems, and use it to provide services to help the grid balance supply and demand.
This enables the grid to operate more efficiently, and makes it easier to integrate higher proportions of renewable generation. Analysis by National Grid has shown that Upside Energy has the potential to eliminate up to 600 tonnes of CO2 for every MW of demand-side capacity they make available.
The funding and wider business support will accelerate Upside Energy’s plans with a large energy supplier they are working with to provide similar flexible energy services. They are also looking to work with domestic properties with solar PV and batteries, sharing the money received from National Grid for balancing services with the homeowner.
Sector: Smart energy
Visit their website: https://upsideenergy.co.uk/
Size: 14 employees