Investment & Fund Management
European Investment Fund Partner
Full Credential Description
NetThings, an Edinburgh-based technology firm, faced the challenge of simplifying the connection and control of various devices over the Internet, including heating, water, electricity, and security systems. To address this niche issue, they developed a universal platform designed to streamline these processes.
To support their innovative approach, Barclays, an EIF shareholder, provided an EU-guaranteed loan under the InnovFin instrument, which targets high-growth companies as part of the Horizon 2020 programme. This loan was further enhanced by the EFSI SME Window managed by the EIF. The funding enabled NetThings to trial its new energy management system, Click, with a major hospitality group that operates national chains of pubs, restaurants, hotels, and coffee shops.
The Click system allows for cost-effective management of energy consumption across large estates or small commercial outlets, where energy usage is typically high. By implementing this system, NetThings aimed to deliver tangible savings by eliminating waste, thereby providing a unique benefit to their clients in the hospitality sector.