RLtec, based out of London, announced the other day that they had raised £5.8 million from various investors including Low Carbon Accelerator, Naxos Capital Partners, and Carbon Trust Investment Partners, which is the venture capital side of the Carbon Trust. The technology company has said that their new device could create power stations virtually as well as help modify energy use in accordance with supply and demand.
The RLtec software will provide balancing services to utilities, national grid operators, corporate consumers, and appliance manufacturers. Currently, RLtec is expected to use the funding to expand into the global market with the software for 2010, as well as continue to expand within the UK.
The technology company has also said that their software will help displace high-carbon emissions by supplying lower-carbon emitting alternatives for energy generation. The software will also help to accelerate the introduction of renewable energy sources onto the grid.
The UK has already aggressively been preparing for Copenhagen by aiming to cut carbon emissions 34 percent to meet goals in 2020, RLtec’s new software will help realize this aim. Once incorporated into the UK systems, the software is expected to decrease carbon emissions by eliminating the need for carbon emitting balancing stations. Additionally this would cut down on 2 million tonnes of carbon dioxide released into the air each year.
The real appeal of the software, according to the company, is that it can be directly installed in to the control unit of electrical appliances to monitor and adjust energy settings without altering the machines performance. To date, RLtec’s software has been shipped out in the UK, the United States, and a hand full of EU member states.
The software has been partially funded by some of the money which is being released more liberally from the Carbon Trust Fund.