Unilectric and Adapt IP Ventures are seeking partners to license and commercialize Unilectric’s home energy management (“HEM”) technology and intellectual property. Unilectric, a development-stage company, has designed a new approach to convert an entire home into a smart home or building with a single product that provides circuit level direct load control capabilities, comprehensive whole home energy management and enhanced safety for consumers.
Dan Van Ostrand, CEO of Unilectric, states:
“Our technology is in a unique position within the IoT and Home Automation market space. While many companies skirt the edges of the smart home concept by selling single purpose solutions such as smart thermostats or door locks, our product is positioned at the very nerve center of the electrical system in the home. Combining internal sensor inputs with external environmental data gives us an unprecedented ability to develop an integrated vision of how best to protect the home, proactively reduce appliance failures and minimize energy consumption. This is the future of true Home Automation.”
Unilectric’s technology and patent IoT portfolio builds on the notion of extracting value from the power distribution panel, a mechanism historically underutilized as a source of intelligence and control as well as the most cost-effective location to integrate HEM (Home Energy Management) and Internet of Things (“IoT”) devices. The fully developed system will connect, analyze and manage connections with the electric grid, alternative energy, generators, in-building switches and outlets, appliances, HVAC, etc.
Demonstrable benefits of Unilectric system to consumers:
- Monitor and control all electrical circuits
- React to events from internal sensors and external information sources
- Manage via mobile devices
- Offer predictive analytics to proactively manage electricity usage
- Manage both smart and ‘dumb’ devices
Navigant Research pegs the HEM Market to grow from $589.9 million in 2013 to $2.4 billion in 2023. Unilectric’s system will play an integral role of the growth in this market for a wide range of ecosystem partners. Numerous revenue generation opportunities exist for utility and retail energy providers, alarm companies, home improvement retailers and industrial supply companies, insurance companies and telecommunication and technology companies.
Monetization opportunities for deployment partners include:
- Building recurring service revenue model
- Extending customer lifetime value by integrating hardware into premise
- Developing referral programs for ecosystem providers
- Offering new electrical equipment and hardware sales opportunities
- Capitalizing on significant data extraction opportunities as a function of usage patterns
For more information and news, please visit www.unilectric.com