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Green Angel Syndicate's soon to be new investee company, AirEx, has been approved by Ofgem as one of five innovative energy efficiency system providers under the Energy Company Obligation (ECO) 3 scheme for its IoT-enabled smart ventilation control system.
ECO3 is a government initiative that places legal obligations on large energy suppliers to deliver energy efficiency and heating measures to homes across the UK. As part of the scheme, AirEx will be deployed on a large-scale Demonstration Pilot in partnership with EDF Energy, with delivery partners Bill Save UK and Build Test Solutions. Once complete, the AirEx product will receive a ‘deemed score’ based on the pilot results, which will then determine the value of ECO subsidy available for each home. Independent validation suggests that the ECO subsidy will fully cover the cost of the product and cost of installation, making it effectively free to the end user: social housing tenants and private homeowners.
Under the new ECO3 scheme, solutions that are deemed as being an ‘innovation’ are eligible in energy inefficient (D, E, F, G EPC rated) social housing properties, as well as any private homeowners or tenants on qualifying benefits including child support. The new ECO3 scheme will therefore incentivise energy companies to find ‘innovative’ solutions to improve the energy efficiency within homes rather than relying on traditional energy efficiency solutions, such as insulation and boiler upgrades.
AirEx provides extremely low-cost solutions for reducing fabric heat loss, improving thermal comfort and protecting residents’ health by passive airflow control. The AirEx team has developed an innovative ‘intelligent air-brick’ system, which uses sensors and smart algorithms to selectively open and shut air vents, resulting in 10-20% reduction on household energy bills. The system is passive, does not require electrically qualified installers, and pays back in 2-3 years through reduced energy bills. Based on rigorous field trials and independent validation undertaken previously, relating to cost savings from energy efficiency measures and core archetypal home properties, (number of bedrooms, main heating fuel of the property, etc.), AirEx could be implemented in 17 million homes in the UK, with a high proportion of these households now qualifying for subsidy under the ECO3 scheme..
Agnes Czako, Co-Founder and Managing Director of AirEx said: “We are really excited to be one of the pioneer innovations on the ECO3 programme. We continue to work with Ofgem, energy companies and installers to deploy this solution in millions of UK homes, fighting Fuel Poverty and Climate Change.”
Emma Gardiner, EDF Energy’s ECO Monitoring Executive said: “Technically this is a simple product, quick to install and relatively cheap, so the potential return on investment (on time and cost) is great as an innovation measure. EDF Energy believes that the AirEx product can really make a difference to improve energy efficiency and benefit the fuel poor.”
For more information please contact AirEx at email@example.com. AirEx and its partners will be happy to assess your housing stock, estimate funding options and secure ECO3 funding on your behalf.