We advised Inion, a start-up that has developed a platform for optimizing and monitoring solar power generation, on attracting an investment. The company was invested in by a venture capital fund Smart Energy Fund powered by Lietuvos Energija managed by Contrarian Ventures.
More efficient use of energy
The start-up has developed both hardware and software that enable manufacturing users not only to use energy more efficiently but also to combine equipment from different manufacturers and allow solar power plant owners to monitor data on a single platform.
Says Šarūnas Stanaitis, CEO of Inion: “Our research shows that due to different energy consumption and production cycles, up to 30% of solar energy is wasted. When excess energy occurs, additional energy storage devices could be activated to make energy usage more efficient. This is merely one example of action that can be taken through monitoring and analysing data.”