EDP, through EDP Ventures, has just invested almost 1.7 million euros in Mixergy, a British startup that has developed an innovative solution that uses artificial intelligence to significantly reduce the cost of heating water. If something was revealed by the pandemic and the war in Ukraine, is the necessity to support new energy solutions. This way, the company shows its interest on supporting the development of solutions that accelerate energy efficiency and contribute to the decarbonization of households, making domestic consumption more affordable and sustainable.

Faced with a problem that affects thousands of households, EDP has opted to present a solution that not only covers this need, but also goes in line with a sustainable future with renewable energies. Thanks to the development of an innovative heater, as a residential battery, the British startup has achieved a significant reduction in water consumption, taking advantage of the excess in solar production to heat it up and reaching, this way, savings of up to 60% of used energy.

This innovative solution tries to optimize hot water consumption in households, getting the highest possible benefit for them. Mixergy heats up water 5 times faster than a conventional heater, and separates hot water from cold water, which allows to heat just the necessary water for consumption, maximizing the energy efficiency of that house and reducing its carbon footprint. Another strength of this solution is its capacity to study each family’s habits during two weeks, adjusting then its behavior to this routine. For example, if the members of a family bathe daily at 7 a.m., Mixergy integrates this practice, heating up water a few minutes earlier.

The setting-up of this system, which is monitored through an app, with no need for human intervention, is simple. It acts as a domestic water battery, so the solution maximizes the use of renewable energy sources for self-consumption, reducing the energy supplied to the network significantly.

EDP Ventures, EDP’s risk capital branch, is supporting the expansion of this startup and accelerating its role in the decarbonization of the residential sector. With currently 39 companies in portfolio, EDP Ventures has invested more than 57 million euros in startups from 11 countries and supports companies with innovative solutions for the decarbonization and the energy transition.