Estonian startup Smart Load Solutions (SLS) is developing smart energy solutions to reduce electricity consumption and bring down costs for customers, and has just announced a round of funding from the Baltic green energy focused investor Sunly Startup.
SLS’s main product, the floor heating thermostat Themo, has already been launched on the market, relying on thousands of data points to make the right decisions on when to consume electricity. Themo is mobile phone controlled, and observes electricity prices and outdoor weather, to lower electricity costs by up to 60% for consumers. On average, Themo reduces heating bills by €8 per square meter per year.
With the investment, SLS is developing a new function for its smart thermostat, which will allow consumers to rent out their extra floor heating to power grid operators.
“These are investors who have been operating in the renewable energy sector for several years already,” said Co-founder of SLS, Madis Uuemaa. “They are aiming to develop technologies that make power generation and consumption more environment-friendly. Furthermore, it’s a sign for us that Estonia is willing to contribute to the digitalisation of power grids like it has done in other sectors.”
“Future electricity grids need to find a solution for intelligently managing and storing electricity consumption. Themo thermostat developed by SLS is a good example of successful resolution of this task. Something that both electricity consumers and network operators will benefit from,” said Priit Lepasepp, Member of Board at Sunly Startup.
“The new development will allow homeowners to make their electrical heating and heat generation work for the power network, as well as decreasing their monthly electricity bill by up to 60%,” Uuemaa stated.
He added that as the flexible management of electrical heating helps smooth out the peaks in consumption and renewable energy production as well as low points in power networks, and that both consumers and network operators will benefit.