2024 KCP Application
Renergy Technologies Inc
Customers & Partnerships
Primary Project Category:
Project Summary / Description:
Renergy technologies‚ AI driven product enables small to mid sized footprints such as restaurants, retail, manufacturing and warehouses to reduce their energy consumption on an automated basis. We were founded in May 2020. In 2019, after the founder, Vimal, sold his last business in bottom of pyramid ed-tech, he did soul searching to find the next problem to solve with an impactful solution. Going by data driven techniques, the nexus of energy and real estate was chosen. Through hundreds of customer interviews and 4 major pivots over 2 years, Renergy arrived at the current product which is scaling well which is enabling unserved segment of small to mid sized properties. To summarize: a) We have grown to 5 enterprise customers. b) 8 people c) Raised $300k in 2021 d) Grew revenue to $5000 ARR in early deployments with significant expansion opportunities.
Regions of Operations:
How Project Affects Greenhouse Gas (GHG) Emissions:
Reduces GHGs (e.g., projects that reduce sources of GHGs, such as through efficiency or other changes in consumption)
Best Estimate of GHG Avoidance/Reduction of This Project (Tonnes CO2 Equivalent/Year):
Impact on Underrepresented Groups:
a) As mentioned earlier, our product is focussed on servicing the unserved market of small to mid sized commercial properties such as restaurants, retail, small manufacturing facilities, gas stations. This specific segment is largely untouched from the AI and IOT 4.0 toolset offered by giant automation companies such as Honeywell and Schneider Electric. b) Almost 44% of such businesses are typically owned by under-represented communities , by just looking at the american statistics c) Globally, the impact of climate change are felt the most in underdeveloped and developing economies. Incidentally, the energy sources tend to skew on the higher carbon emissions side as opposed to somewhat cleaner grids of US. d) That‚ where our product comes in at a very affordable point with 3-6 months ROI payback on initial hardware investment as well.
Research or Economic Modeling
Measurement, Reporting & Validation
The organization was founded in May 2020. Our projects have been launched with active paid customers in Canada, Philippines and India across mutiple locations.