London, 25th June 2014
KiWi Power, a London-based smart grid and demand management company, was awarded £20,000 by the Mayor of London yesterday during this week’s ‘Cities Summit’ event currently being held at City Hall, London.
The Cities Summit competition, supported by event sponsor Citi, aims to help households reduce their electricity consumption during expensive times of peak demand, manage energy consumption more intelligently and reduce CO2 emissions.
KiWi Power’s smart-phone app will provide an energy service designed to alert householders to switch off household domestic appliances during times of peak energy demand, and provide energy saving advice.
Commenting on the award Ziko Abram, director and co-founder of KiWi Power, said: "Our proprietary smart grid technology is already helping hundreds of commercial and industrial businesses throughout the UK, including NHS hospitals, water utilities and hotels, reduce their energy consumption during times of peak demand.
“Our involvement in the Cities Summit competition and the awarded prize money will help us open up the residential demand response market and further develop our smart grid technologies. Greater adoption of demand response in London homes will massively reduce the risk of black outs, reduce CO2 emissions and help drive electricity prices down."
The Mayor of London, Boris Johnson said: “Inventive and forward thinking ideas like these are the key to a brighter and more sustainable future. By nurturing London’s most innovative small businesses, and sharing knowledge and information with our international counterparts, we aim to maintain London’s position as a world leader in pioneering eco-business solutions and ensure this city is at the heart of securing a better future for us all.”
The prize is part of the annual international Cities Summit which brings together the world’s cities to share knowledge and ideas for a more sustainable future.
From an online ‘cloud’ virtual-storage to save off-peak power, to ice cooling systems which can run on no power during peak times, five solutions made it onto the shortlist from 22 small businesses across the globe which answered the Mayor’s challenge to reduce the amount of electricity used at peak times. These new ideas aim to mobilise Londoners and smaller businesses to help the city maintain its fast paced growth without putting extra strain on the national grid.
For further information about demand side response and smart grid services, visit www.kiwipowered.com
About Cities Summit
The Cities Summit, being held this week at City Hall, invites businesses and entrepreneurs from some of the world’s largest and most influential cities to share ideas about how to tackle the challenges that we all face.
Hosted in London for the first time in its five year history, and confirming London’s position as a forward thinking and innovative world city, the Cities Summit event is running from 23 – 25 June 2014
What is demand response?
Demand response works by allowing customers to temporarily turn down non-essential systems, such as lighting and air conditioning, for short periods of time during periods when energy grids experience heavy demand for electricity. It is a mechanism that allows network operators to balance the supply and demand of electricity during times of grid stress. This approach reduces the need to generate more power using fossil-fuelled power stations.
Demand response is included in the UK Government’s Energy Bill as part of the proposed Capacity Market Mechanism. This represents perhaps one of the biggest advances in energy policy in decades, and is designed to move the UK towards a more sustainable, secure and affordable energy grid.
About KiWi Power
KiWi Power was co-founded by Yoav Zingher and Ziko Abram in 2009. KiWi is a smart grid company that specialises in managing the demand side of energy consumption for large industrial and commercial consumers of electricity and for government regulators. The technical term is demand response. KiWi Power operates in the UK in England, Wales & Scotland supplying Demand Side Management services to National Grid. National Grid pays for these demand reductions, thereby allowing participating companies to generate new recurring revenue streams and reduce their carbon footprint.