A tech company founded by former Aston University lecturers has secured new investment to support development of its artificial intelligence software.
Grid Edge was established by Tom Anderson, Jim Scott and Dan Wright who met while working together at the university's European Bioenergy Research Institute in 2012.
Following three years of product development, the trio has created cloud-based energy management software which uses artificial intelligence (AI) to forecast a building's energy requirements over a four-hour period to optimise its consumption.
They say the system can help reduce energy use in buildings by up to 25 per cent, helping to lower carbon emissions and energy bills while also improving system resilience.
Grid Edge has now secured £200,000 from Ignite, the impact investment fund operated by British Gas owner Centrica.
The investment now means the three partners can focus their efforts full-time on turning Grid Edge into a commercial venture.
It is also creating four roles at its headquarters in the city centre with plans to recruit four more staff by the end of the year.
Mr Anderson said: "This investment is a game changer for us.
"We can now focus on accelerating our product development and establishing a real footprint in the commercial market.
"Our ambition is to be in more than 500 large-scale buildings within five years."
The Ignite fund was launched in 2014 to focus on energy since when it has supported more than 25 enterprises.
Sam Salisbury, investment principal at the fund, added: "We believe Grid Edge is a fantastic example of an enterprise that could truly benefit society which is the key reason why we're backing the team.
"The technology could have huge potential for the commercial and public sector and we're particularly excited about the opportunity it offers housing associations and local authorities, helping them to cut carbon emissions, reach energy efficiency targets and create warmer, healthier places for tenants to live."
