Upside Energy named national winner of 2017 Shell Springboard programme

Following success at the regional finals in March, UK-based start-up Upside Energy has beaten over 130 competitors to be named national winner of the prestigious 2017 Shell Springboard programme at an event in London on 6 April. The award, worth a total of £150,000, was made in recognition of the groundbreaking work Upside Energy is doing using cloud technology to smooth the flow of energy across the electricity grid.

The Shell Springboard programme supports the brightest UK businesses innovating for a lower carbon future. A panel of independent judges, all leading professionals in the low-carbon sector, determined the Shell Springboard national winner.

The panel of judges were particularly impressed by Upside’s effective use of resources to deliver carbon savings, achievable aims in viable partnerships and their innovation architecture with Universities.

Professor Dame Julia King, a British engineer, crossbench member of the House of Lords and Chair of the Shell Springboard judging panel, said:

“The overall quality of the Shell Springboard finalists this year was impressive – the judges had an inspiring day hearing from six young businesses focused on making a difference. Their diverse approaches to innovation, encompassing technology, product, process and systems were backed up by strong business plans and delivered real CO2 savings. Many congratulations to Upside Energy.”

Upside Energy’s ingenious service uses cloud technology to aggregate the energy stored in systems people and businesses already own, such as uninterruptible power supplies, solar panels, electric vehicles and domestic heating systems without the need for additional hardware or investment by the device owners.

This creates a Virtual Energy Store™ that Upside can sell to transmission system operators such as the National Grid, distribution network operators and energy supply companies to help balance supply and demand on the grid at peak times without the need to resort to older fossil-fuel based sources. Upside then shares revenues with device owners, manufacturers and their resellers and installers.

Analysis carried out by National Grid shows that this technology can eliminate 600 tonnes of CO2 for every MW of demand-side capacity that is made available. By 2025, Upside aims to have over 500MW of capacity under management in the UK. That would enable Upside to eliminate 300,000 tonnes of CO2e per annum – equivalent to a medium sized power station.

Dr Graham Oakes, Founder & CEO of Upside Energy said,

“This is fantastic recognition for everything we’ve been doing over the last three years. The energy system is going to change dramatically over the next few years, and Upside is going to be at the heart of that. The Shell Springboard prize recognises the contribution we are making to a greener, cheaper and fairer energy system.”

Find out more about the Shell Springboard programme at:
http://www.shellspringboard.org

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