Just outside the M25 and a half an hour's drive south of Windsor Castle, there’s an AI-driven startup that’s working on saving the planet. For all of us. Starting with providing energy-intensive businesses solutions that they can implement practically overnight that deliver rapid reductions in greenhouse gas emissions (GHG) and energy costs.
And now, QiO Technologies has raised a fresh $10 million via Boston, Massachusetts-based Wave Equity Partners to further expand its operations in the US and Europe.
With energy-intensive industries, i.e. chemical, petroleum, coal, paper, primary metals, and yes, even the data centres powering the words you;re reading right now, contributing 24.2 percent of global GHG emissions per annum, it’s clear as day that these industries could use all the help that they can get when it comes to helping Mother Earth stay a little cooler and breath a little easier.
Where QiO plays its part is via its Foresight Sustainability Suite, a host of tools that help companies operating in these industries shave up to 10 percent GHG emissions by wrangling together and running through some AI the large, disparate sources of operational data, ultimately reducing GHG emissions and improving operational efficiency. According to the company, in terms of operational efficiency, it can help companies optimise by up to 20 percent.
“Energy-intensive industries and data centers have a crucial role to play in achieving a low-carbon economy. Our mission is for QiO to be the partner of choice for businesses that want to take decisive action today to accelerate their progress to net zero,” said QiO co-founder, Chairman, and non-executive Chair at Ocado Rick Haythornthwaite.
“With our proven technology, demonstrable track record of delivering energy and GHG emissions savings, and this Series B funding, QiO is well-placed to support energy-intensive businesses as they come under greater scrutiny from customers, investors, regulators, and governments to deliver on net zero targets."