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SteamaCo

Early Stage Startup





Tagline

SteamaCo makes distributed energy manageable

Video

vimeo.com/210462416


Elevator Pitch

To bring 1.3bn people out of darkness, off-grid utilities need new technology. SteamaCo offers automated billing and revenue stimulation capabilities, improving its customers' profitability and scalability. SteamaCo's patented smart meter is 4x times cheaper than comparable products and the same price as incumbent, and inferior, prepaid meters.

SteamaCo makes distributed energy manageable. Its networked smart meter and billing solution reduces operating costs and improves revenue collection through automatic monitoring, control and billing of multiple energy resources in any local mini grid. All functions - eg. tariff settings, switching rules, and reporting frequency - are configurable online and update onboard the devices instantly, anywhere in the world.

SteamaCo has shipped to 12 customers in 9 countries, remotely operating a 300kW installed base of 42 mini grids (projects) and 3,000 end points (meters).




Why we are ecofriendly

1.3bn people across the developing world lack access to modern energy services. Their current options are limited to kerosene, diesel and biomass. These are dirty, expensive and hazardous to health. Solar mini-grids represent a clean, sustainable and inexpensive solution. To enable this industry and bring millions out of economic isolation, requires new technologies.

SteamaCo makes selling energy through mini-grids manageable. Its networked smart meter and billing solution reduces operating costs and improves revenue collection through automatic monitoring, control and billing. The technology is 4x cheaper than comparable products and works where you can’t even make a phone call.

SteamaCo’s target is to connect 1m households and businesses across Africa and India to modern energy services by 2021, enabling them to enter the economy and share in global prosperity. All with clean energy.

Latest News

SteamaCo's African data is to be used at Valtech's Hackathon on 12-13th May.

SteamaCo have co-authored a white paper "Powering Productivity" with Vulcan, next white paper, with further insights into mini grids, to be released in early Q2 2017.

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Version History

2017-04-18 14:00:16 - changed social-impact to 'To date, SteamaCo has connected 3,000 homes and businesses to grid quality power. This has directly benefitted around...'

2017-04-18 13:59:40 - changed economic-impact to 'Reduce the cost of energy to consumers: – Non-renewable energy sources cost African families $70-110 USD on an...'

2017-04-18 13:58:23 - changed environmental-impact to 'Reducing the use of dangerous fuel sources & emissions: - Mini grids involve large-scale deployment of distributed...'

2017-04-18 07:10:05 - changed environmental-impact to 'Reducing the use of dangerous fuel sources & emissions: - Mini grids involve large-scale deployment of distributed...'

2017-04-18 07:08:44 - changed social-impact to 'To date, SteamaCo has connected 3,000 homes and businesses to grid quality power. This has directly benefitted around...'


SteamaCo is ECO17 Award Nominee.




Website


Revenues

2014:
$115000
2015:
$180000
2016:
$270000

Fundraising

$0.8m seed funding raised in 2016
$0.5m pre-seed funding raised prior to 2016


Grants Raised

InnovateUK Energy Catalyst grant raised in 2016 for £300k

Collaborated on a £900k EPSRC grant via DeMontFort University in 2014

Employees

8 employees

Investors

Ashden Trust
GReeN

Customers

Schneider Electric
Redavia
Fluidic
Solar Kiosk
Development Ventures
PowerGen
Enertiva
Rafiki Power
Vulcan
Ubuntu Power
SimGas

Enviromental Impact

Reducing the use of dangerous fuel sources & emissions: -

Mini grids involve large-scale deployment of distributed renewable energy generation, eliminating the use of biomass and kerosene which contribute to over 2m deaths annually and emit an estimated 1.7 tonnes of CO2 per MWh. By 2021 SteamaCo anticipate having 1m meters installed providing households with access to clean electricity and reducing the use of these dangerous, polluting fuels.

To date, SteamaCo have metered renewable energy equating to ~80 tonnes of CO2 offset per year in 2016, rising to ~150 tonnes per year in 2017

Economic Impact

Reduce the cost of energy to consumers: –

Non-renewable energy sources cost African families $70-110 USD on an annual basis, equal to $13.2-17.3 billion across SSA, $5 to $20 per kilowatt hour equivalent. This can be up to 35% of a household income. Mini grids provide a much more cost effective solution, at $0.20 per kWh. By 2021 our solution will be saving households $35 per annum, multiplied by 1m meters $35m in total saved.

Reduced cost to supply energy: –

As above, difficulty in collecting payments and the cost of monitoring and metering energy use have resulted in limited investment in mini grid technology to only the lowest-risk locations. SteamaCo's wireless, low energy technology reduces the amount of hardware and data needed for each site and the cost to set-up. The backup SMS communications channel mean that payments can be collected instantaneously, reducing the operational cost and ultimately the overall cost to supply, increasing affordability and viability in rural communities.

Open up the marketplace: –

Presently, energy companies have no viable means to retail electricity and operate commercially in off-grid Africa. Instant payments and data metrics are key factors in attracting investors to the industry, enabling reliable ROIs to be achieved and opening up the marketplace.

Enable consumers to build up a credit rating: –

Off-grid Africa represents a huge unserved market; though they have limited capital, rural consumers are willing and able to pay for appliances and services, provided they can pay-as-they-go. Through the cloud-based data analytics platform, SteamaCo will collect high-resolution payment and usage data on their end users. Not only will this enable energy companies to monitor usage and provide bespoke tariffs but over time, algorithms can be developed to enable households to build up a credit score to be used to enable credit lines for both power and asset leasing, as well as follow-on services like internet. Asset leasing (such as grain mills, solar water pumps, computers, etc.) will help further enable the economic development of these communities.

Social Impact

To date, SteamaCo has connected 3,000 homes and businesses to grid quality power. This has directly benefitted around 20,000 people across Africa, Asia and Latin America.

Facilitate the supply of electricity to unconnected people: –

Smart meters are a key part of the mini grid solution however present meters are either too expensive to set up or too expensive to operate i.e. collect payments, meter. SteamaCo's solution is wireless, enabling greater radius, cheaper (as it is designed in Africa for Africa) and runs on LPWAN, takes mobile payments and transmits data by SMS, reducing operating costs which lets project developers sustainably serve a greater customer base. (5m people served based on average Sub-Saharan African household)

Awards

Ashden International Business Award Winner 2015
Postcode Lottery Green Challenge Finalist 2016
CleanTech 100s Ones to Watch 2016


Country of Origin

Kenya

Founded

2012

Twitter


Facebook


Team

Tom Parkinson - CFO

Harrison Leaf - CEO
Emily Moder - COO
Wesley Verne - CTO

Contact Person

Tom Parkinson

Headquarter

Manchester Science Park, Manchester, UK