Edd:e offers businesses a critical measurement and verification tool that enables them to prove and analyse the energy savings made as a result of energy efficiency initiatives.
The South Shields firm says the patent, granted by the US patent office, underlines its commitment to innovation in the energy market.
Chief executive Geoff Thompson said: “The simple fact is that energy prices are rising. Wholesale markets will continue to push prices upwards, but the UK is also going through its most important piece of energy legislation in the last 15 years and this will shape the landscape up to 2050.
“End users of energy will be effectively funding this as customers will see up to 25% increases from this alone. Edd:e is a critical measurement and verification (M&V) tool that will help with various energy efficiency initiatives as end users look to mitigate the large escalating costs of using energy.”
On average, Edd:e has enabled Utilitywise customers to reduce energy consumption by 27%, and in some cases by as much as 33%.
The device also quickly distinguishes energy waste from malfunctioning or incorrectly set equipment.
Thompson added: “We have always been proud of Edd:e and we are delighted to have secured this patent, because it really does offer something unique in the marketplace.
“Edd:e monitors power minute-by-minute, 24 hours a day, seven days a week. It lets businesses see exactly how much power is being used, where it is being used, and when.
“Edd:e uses Utilitywise’s web-based reporting platform that gives customers real-time updates. With help from our energy consultants, they can carry out fast and accurate assessments of ways in which they can improve their energy use.”
Established in 2006, fast-growing Utilitywise last year reported a rise in annual revenues of a quarter to £14.6m and pre-tax profits up 23% to £4.3m. The company now employs over 300 people.