Engie invests in start-up Tiko for connected home energy network

Friday 15 March 2019 | 08:38 CET | News

Energy group Engie invested in Tiko, a Swiss startup established in 2012 that has developed a technology for exploiting electrical equipment (water heaters, heat pumps, solar panels, batteries, electrical outlets etc.) already present in most individual homes. Focused on the control of domestic energy consumption, this young company offers technology for managing a wide range of electrical equipment in private homes. The aggregation of all connected homes enables the creation of virtual energy plants.

The Tiko technology connects the devices, such as water heaters, heat pumps, solar panels, batteries, electrical outlets, etc. to a platform and makes them controllable. The user has a personalised dashboard that centralises all his data in a highly secure way, he can then control his electricity consumption and comfort according to his needs, or optimise his self-consumption strategy (heating the DHW, supplying the household appliances via the connected sockets, battery charging, etc.) and reduce his electricity bill.

Besides the local management of energy consumption, users of tiko technology may participate in schemes to aggregate connected homes and create extensive flexible energy consumption, generation and storage reservoirs, which react intelligently to fluctuations in the electricity network. If production in a region falls suddenly, some facilities are able to vary their heating cycle slightly until generation returns to normal. This mechanism, known as load shedding, frees up additional electricity capacity for the collective electricity network, thereby creating a “virtual power plant”. The company has developed algorithms based on machine learning that allow these short-term erasures to be carried out without affecting the customer's comfort.

Directly linked to Engie’s strategy of decentralisation and digitisation, this investment will ultimately result in the creation of energy communities on multiple levels, from the individual home to the national electricity network in varied territories. This operation will also enable Engie to support Tiko’s strategy of international development - the company has already sold several thousand copies of its system in Switzerland, Germany, Austria and France.

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Categories: Internet
Countries: Switzerland
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