ELIoT Energy and the village raising a startup
Last week ELIoT Energy, a Hub member and project partner, presented the outcomes of their smart battery trials which enabled the startup to prototype solutions and connected businesses in Fishermans Bend to reduce both carbon emissions and costs. As well as showcasing the technology and the positive outcomes of the trial, the presentation sparked lots of great questions and discussion - all part of the extended village that is takes to raise a startup!
Unlocking energy savings for hospitality operators
Having identified that the 700,000 vending machines and fridges used in the Australian hospitality sector are responsible for 3 million tonnes of carbon emissions and cause the majority of energy costs for hospitality businesses, ELIoT Energy have developed a smart plug & play battery solution. Supported by FB IDEAs, the 12 month pilot in Fishermans Bend trialled the battery at Six Fifty Sips (located at Citiport where the Hub is based) and CBCo Brewing in Bertie Street.
The technology is a unique system that stores green energy when the costs are low, enabling hospitality operators to tap into cheaper renewable energy to power their vending machines and fridges. It doesn’t need an electrician to install and can be relocated when moving premises.
Over two 6 month trial periods, the trial reported up to 72% energy cost savings, achieved by leveraging the spot price market through their price prediction model. Co-founder and CTO, Philip Oefner explained technical details of the trial, where up to 23% reductions in emissions could be achieved through load-shifting to periods with high renewable energy content in the grid. Among the learnings was how to optimise the size and capacity of the batteries in relation to the fridge, so that savings can be maximised.
It also showed that the energy mix in the grid still has an impact on the emission reductions that can be achieved. In short, there is still too much fossil fuel energy coming through the grid in Victoria, which impacts savings and carbon emissions - especially when compared with South Australia, where higher reductions can already be achieved today.
A village that raises a startup: The FB IDEAs ecosystem
According to founder David Hauser, it does not just take grants or office space, “It takes a village to raise a startup”. While the grant funding was essential to transition from prototype to pilot, he pointed out that FB IDEAs was also essential in facilitating connections to local businesses CBCo Brewery and Six Fifty Sips, who granted access to their fridges for ELIoT’s prototypes. The Victorian Cleantech Cluster’s Australian Cleantech Showcase proofed to be another impactful event supported by FB IDEAs, acting as a catalyst for connecting with people and stakeholders - now committed in supporting the startup on its journey.
Hardware matters in cleantech - a unique opportunity for Fishermans Bend
Another crucial contribution from the Fishermans Bend ecosystem was access to workbench which was provided by Earth Systems in a nearby warehouse, allowing the two founders to build their prototypes. Having access to a physical workspace where hands on activities are possible, where things can get dirty, be stored and assembled is a core requirement for a hardware startup, but hard to come by for startups looking for low cost and short-term options!
As David points out, physical hardware is crucial in removing carbon dioxide. Software can support and increase efficiencies, but not physically remove carbon. However for developing hardware, space is required, and startups need to be able to access space. Here, a unique opportunity for Fishermans Bend exists, to build on existing and emerging systems. The proximity to several of Melbourne’s top universities, access to talent is why David concludes that for a hardware startup, this - Fishermans Bend and the FB IDEAs ecosystem - is the best environment that can be found in Melbourne and surroundings.
What’s next for ELIoT Energy?
ELIoT’s online shop is about to open, and the growing interest from major partners and customers is palpable. Among these are a leading supermarket chain and a global beverage brand, as well as energy providers. With stakeholder and customer interest lined up, MOUs are being drafted and the process of setting up a larger pilot is in full swing.
The business model going forward carries a clear value proposition: every single device can be monitored, which informs ESG reporting. The price prediction in place prevents the battery from consuming in peak price events. The engaged discussion on the night opened up additional fields of engagement.
As the business grows, ELIoT are open for investment from value aligned Angel Investors, so if you are interested in finding out more we encourage you to get in touch with the team. https://eliot-energy.com/
Get Involved in the Hub
We have a regular program of events and networking opportunities at the FB IDEAs Hub, and throughout Fishermans Bend. Subscribe to our monthly eNews to get updates!
You might also like to join the FB IDEAs Hub community. Located within walking distance of the future Fishermans Bend Innovation Precinct, the Hub is more than just a co-working space — it’s a community where the future is being actively built.
We offer free* co-working space (* subject to T&Cs) and the chance to be part of a growing start-up ecosystem working across cleantech, aerospace, renewables, regenerative architecture, placemaking, product design, circular economy, business consulting and much more.
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