October 9 2015, London and Denver – ONZO, a global provider of data science-based energy analytics solutions for the utility industry, today announced the issuance of a new European patent which will streamline and increase the efficiency of information data gathering and analysis from smart technology.
ONZO’s latest patent covers EPEG, an algorithm which uses compression to enable data to be collected efficiently at a far more granular level. The algorithm also drastically reduces the duration of the analysis process by ensuring only the most useful data is analysed. This is a particularly significant attribute as more utilities increasingly rely on higher volumes of granular consumption data from smart meter and sensor technology.
ONZO’s patented algorithm has already been deployed in the field in more than 100,000 energy sensors. Through using EPEG, the consumption data was successfully compressed, whilst retaining over 98% accuracy.
“We are delighted with the issuance of our new European patent and the continued growth of our intellectual property portfolio” said Steve Wilkes, ONZO’s Chief Technology Officer. “As ONZO continues to break new ground through the relentless enhancement of our disruptive platform, our emerging patent estate serves to strengthen our position as leaders in the energy analytics market.’
ONZO is a global leader in consumer energy data analytics. ONZO combines the science of energy analytics with load disaggregation, lifestyle behaviour analysis and probabilistic forecasting to give utilities and their customers unprecedented insights into how, where and when energy is used. Leveraging granular smart meter data, ONZO’s patented algorithms result in richer, highly accurate, customer-specific insights that help utilities improve customer engagement and energy efficiency, while reducing churn and creating new revenue opportunities. Visit Onzo.com and follow us on Twitter and LinkedIn.