British Gas and AlertMe Agreed Strategic and Commercial Partnership
AlertMe has signed a commercial and strategic partnership with British Gas, one the UK’s leading utility supplier last month as it went through a second round of investing, raising a total of £15 million. British Gas has invested £5.7 million for a 15.96 percent stake in AlertMe, making it a key investor along with VantagePoint Venture Partners, Index Ventures, Good Energies and SET Venture Partners. British Gas’s stake will give them a seat on the board of AlertMe.
Over the past months AlertMe has roll out a list of news feature such as Carbon Footprint Calculator and Cost Prediction. The cash received from British Gas and others will allow AlertMe to further develop its platform, services, analytics and ecommerce proposition and expand it partner and channel program in the UK, Europe and the USA.
Under the commercial agreement with British Gas, which is worth over £20 Million based on technology delivery; the AlertMe platform will be rolled out by British Gas as part of their plans to equip UK home with about 2 million Smart Meters by 2012, and develops its Microgen and energy efficiency programmes.
“We want to make energy saving as easy as possible for our customers. This is why we continue to offer new, smarter ways to help customers take control of their energy usage. AlertMe’s innovative product portfolio is a great addition to British Gas’ current service offering, and will provide our customers with a range of new, easy to use tools to reduce their energy consumption and cut their fuel bills,” Phil Bentley, Managing Director at British Gas.
The AlertMe Home Area Network (HAN) and cloud-based platform provides two-way communication for real-time monitoring, control, automation and analytics. The platform allows consumers to manage and control a wide range of home activities over the internet and via their smart phone, saving up to 15-20% on their energy bills, reducing their carbon footprint and providing increased efficiency, convenience, comfort and peace of mind. AlertMe also works with new Smart Meters being rolled out by utilities across the world, enhancing and extending the benefits of the Smart Grid to the consumer.