What is it?
Open Utility is a start up in the very early stages. From reading the, naturally, rather sketchy information available on their site, it seems that they are building a platform directly to connect buyers and sellers of electricity. ‘More peer to peer, less middlemen’. They say:
“The current energy system was built in the late 19th century when distributed renewable energy and the internet did not exist. We are making the electricity industry fit for the 21st century. We are building a service for buying and selling electricity which makes it easy and rewarding for everyone.”
Sounds great. Not sure quite how they are going to break into the current market with all the regulation that surrounds it. However, the two guys involved do seem to have, between them, the right background to do it.
Who Are They?
James (CEO) has a PhD in Future Power Systems and used to run a sustainable design company. Over the last 4 years he has worked with utility companies and research organisations looking into the implementation of Smart Grids. James is leading the business development and is co-developing the P2P engine.
Andy (CTO) is a programming expert who has developed technical solutions for reducing energy use through behavioural change in the workplace. He has experience in handling real-time Big Data for social and energy monitoring applications. Andy is leading the user-experience design and is co-developing the P2P engine.
And another thing…
Someone seems to think that, eventually, they might just achieve their goal to ‘transform the centralised, polluting and expensive electricity grid into a low-cost, sustainable and resilient energy supply that benefits everyone’ because, as of June this year, they have received seed funding from the Bethnal Green Ventures group.
We wish them well and look forward to monitoring their progress.