Scoop has an Ethical Paywall
Licence needed for work use Learn More

Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Energy Controllers Win Entrepreneurs' Challenge


Making energy use smarter has won Auckland technology exporter Senztek a share of the $1m Entrepreneurs' Challenge run by the University of Auckland.


The company, which has seen an increase of sales by almost 300% in the past year, will use the funding to boost its R&D and fast-track expansion plans into Europe.


Senztek provides smart technology for heating and maintenance of (mainly solar generated) hot water, but its active R&D programme is introducing other technologies; moving the company from intelligent measurement technology to smart energy management.


Senztek CEO Brian Knolles said the funding comes at a critical time for the company, which had its first sales of 100 units to mega-distributor Apricus in Australia just on a year ago.


Now Australia makes up much of the company's exports of energy efficient technology, on the back of a $42bn Australian government stimulus package for the solar market, which will see 300,000 solar systems installed in Australian homes, and a phase out of electric-only hot water cylinders.


The next step is the potentially lucrative UK market, which Knolles' team has identified the UK market as having significant potential for the business.


"It's seen as too small for the big players, but it is the right size for us," he said. "Europeans traditionally use a variety of technologies to get hot water and our hot water control technology is the right product at the right time."


Mr Knolles said the UK was a new solar market with huge potential to grow rapidly over the next few years. "Our goal is to partner with a UK distributor and offer the customised solutions that the larger European controller manufacturers are not prepared to go after."


ENDS

Advertisement - scroll to continue reading

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Business Headlines | Sci-Tech Headlines

 
 
 
 
 
 
 
 
 
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.