Elax Énergie raises 30 million euros to optimize water heating

Elax Énergie announced a funding round of 30 million euros aimed at enhancing its water heating management solution. The company plans to utilize the funds to extend its technology that adjusts water heating schedules to meet household demands while concurrently reducing energy consumption.

The innovative approach proposed by Elax Énergie involves heating water during off-peak times, specifically in the early afternoon, allowing homeowners to take advantage of abundant electricity supply. This strategy is designed to alleviate the financial burden of energy bills on households by optimizing the timing and amount of electricity used for heating water.

Elax Énergie has already implemented its solution in nearly 100,000 homes. The technology includes the installation of a connected thermostat on existing water heaters, which allows for customized heating based on the specific needs of residents. The company claims that this adjustment can lead to energy savings of 20 to 25 percent on hot water production alone.

The company’s system is designed to adapt to variations in hot water demand, which can fluctuate based on the number of occupants in a home and their schedules. By employing a smart thermostat, the system not only ensures that hot water is available when needed but also minimizes unnecessary heating, thereby reducing energy consumption.

In addition to optimizing heating schedules, Elax Énergie's technology allows for shifting water heating to times when electricity is more plentiful, such as during sunny afternoons when solar energy generation is high. This flexibility can help balance the overall electricity demand on the grid, which is crucial for maintaining stability in energy supply.

Elax Énergie emphasizes that the coordination of multiple devices across many households can create a significant impact on electricity markets. By aggregating the flexibility of numerous water heaters, the company can offer economic services that contribute to grid stability and potentially generate revenue to offset operational costs.

The announcement of this funding was reported by FrenchWeb, highlighting Elax Énergie's commitment to developing sustainable energy solutions that not only benefit consumers but also contribute positively to the electrical grid's efficiency.