Smart Load Solutions (SLS) raised capital for development from the green investment focused Sunly Startup. The investment aids in developing a new function for the smart thermostat, which allows the consumers to rent out their floor heating to power grid operators, who will use it to stabilise the operation of the network.
Co-founder of SLS, Madis Uuemaa, was glad about the involvement of Sunly Startup for several reasons. “These are investors who have been operating in the renewable energy sector for several years already, aiming to develop technologies that make power generation and consumption more environment-friendly,” Uuemaa said. “Furthermore, it is a sign for us that Estonia is willing to contribute to the digitalisation of electrical networks like it has done in other sectors.”
“Besides the management of electricity production, the future electricity grids need to find a solution for managing and storing consumption as well. The Themo thermostat developed by SLS is a good example of successful resolution of this task, and both electricity consumers and network operators will benefit,” Priit Lepasepp, Member of Board at Sunly Startup, commented on the news. He pointed out that the investment is particularly important because the product range of SLS helps the consumers partake in the market and services so far unavailable for home consumers, without giving up any comforts.
With the help of the investment, SLS is planning to develop a thermostat solution that would take into account the output of power networks and the fluctuations in consumption, in addition to electricity price. “The new development allows home owners to make their electrical heating and heat generation work for the power network as well and thereby decrease 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, both other consumers and network operators will benefit.
The floor heating thermostat Themo developed by SLS and already launched on the market, relies on thousands of data points to make the right decision on when to consume electricity.
Themo is mobile phone controlled, observes the electricity price and the outdoor weather, and costs up to 60% less for the electricity seller due to its intelligent management system. On average, Themo reduces heating bills by 8 euros per square metre a year.
Smart Load Solutions OÜ (SLS) is an Estonian start-up company with a vision to ensure sustainable and environment-friendly power consumption through the development of smart home technologies. Themo floor heating thermostat as the flagship is the first thermostat to use artificial intelligence and information from the electricity market to find the perfect balance between user convenience and the needs of the power network. SLS was founded in 2014 by three Estonian engineers: the brothers Madis and Märt Uuemaa, and Allan Puusepp. In 2015, Smart Load Solutions participated in the Ajujaht TV-show and earned the fourth place with its optimisation technology.