measurable.energy secures financing to begin scale-up operations of its Machine Learning and IoT platform

- measurable.energy can now rapidly scale-up their capacity to provide facility, corporate real estate and sustainability managers with tangible means to meet building operations carbon reduction mandates encompassing diverse property portfolios.

- The m.e Platform is clean tech infrastructure that will enable more buildings to easily
accelerate Net Zero goals; automatically reducing energy demand and improving occupants'
experience

- m.e's aggregated Demand Side Response (DSR) system benefits grid operators, helps target
use times and supports more renewable energy generation to be used.


measurable.energy (m.e), a UK-based clean technology company have secured an investment from Bonheur ASA to scale-up their m.e Platform, designed to simply identify and eliminate wasted energy and Greenhouse Gas (GHG) emissions from buildings.

The m.e Platform focuses on Small Power, sometimes known as Plug Load power, which can account for up to forty percent (40%) of a commercial building's energy consumption and for whichuntil nowno effective management system existed. Around half of Small Power can be classed as wasted energy and GHG emissions.

The m.e Platform is designed to simply fit into this infrastructure and management gap, automatically identifying Small Power wasted energy and controlling it, reducing total energy costs and GHG emissions by as much as fifty percent (50%), boosting occupant sustainability behaviour.

m.e's proposition to facilities management teams, building managers and estate owners is simple; eliminate wasted energy by either switching it off, or use it with m.e's Virtual Load, an aggregated Demand Side Response (DSR) system that benefits grid operators, helps target use and supports more renewable energy generation to be used.

Statement from Dr. Dan Williams, CEO of measurable.energy:

"From our customer pilots in 2020/21 we can confirm that around 30-40% of Small Power can be classified as wasted, in a world that's focused on efficiency and sustainability, this is an embarrassing fact that can be simply resolved with our technology.

We've spent a lot of time and put a lot of hard work and effort into building both a hardware and software platform that's designed to directly eliminate wasted energy and provide our customers with a simple yet effective toolset. With our pilots over the past year, we've proven our technology works, provides huge business value and can help us all achieve Net Zero goals.

The investment from Bonheur means we can take our proven success and scale-up, quickly and effectively. Our global plan to replace all power sockets, everywhere, enabling us all to be part of the Net Zero transition. We'll be publicly launching in the UK in 2022; now, we're recruiting and growing in all areas of the business from Machine Learning to Business Development."

Statement from Lloyd Butterworth, Investment Manager at Fred. Olsen & Co.:

"m.e's technology has an exciting part to play in the energy transition. As we move towards net zero, the importance of reducing wasted energy, and of flexible energy consumption, will be imperative. m.e have already demonstrated the utility of their technology to their existing client base. Bonheur is looking forward to working with m.e as they scale their offering."

Statement from Øyvind Engesrønning, Vice President Finance of Fred. Olsen & Co.:

"With Bonheur's strong footprint within the renewable energy value chain, the investment fits well with their strategy to continue to expand their footprint in existing or related industries, across technologies, services and products. Leveraging their industry knowledge and network throughout the Fred. Olsen-related companies, Bonheur provide a long-term ownership perspective and an active ownership to support m.e reach its ambitions."

For further information:

Contact Dr. Dan Williams, CEO, measurable.energy info@measurable.energy

About Bonheur ASA

Bonheur ASA is an investment company with origins from 1848 and listed on the Oslo stock exchange in Norway since 1921. Fred. Olsen & Co. is in charge of the day-to-day operation of Bonheur. Through various Fred. Olsen-related companies, Bonheur's core interests have traditionally been linked to the maritime and energy sectors, and with a proven history of being early adaptors into new trends, such as being an early mover within onshore and offshore renewable energy in the 1990s. Bonheur continuously evaluate investment opportunities with a view to strengthen existing engagements and expand into new, but still related, business areas, seeking innovative and ambitious companies within renewables, energy storage, travel and leisure, circular economy, maritime and shipping, and others.

About measurable.energy

Dr. Dan Williams and Dr. Josh Eadie kicked off measurable.energy (m.e) in 2018 out of a frustration of not enough tangible action being taken to improve sustainability; measurable.energy is designed to make real, measurable impact. The most important value of the company, set from the beginning, is to take tangible action on improving environmental sustainability, and never to just suggest action and move on to the next project as is so common today.

- The m.e Platform integrates intelligent software that 'thinks' and smart hardware that 'takes action'. To find wasted energy, m.e use-purpose designed 'm.e Power Sockets' that record data very frequently and accurately. That data is the key to the m.e offering and is useable in their Machine Learning (ML) algorithms that are designed to identify what's plugged-in, what context the device is in, and then classify it as wasted or not. m.e can then interact with a user or automatically control that waste using the m.e Power Socket. The key for m.e is their own ability to collect data and lots of it, the more data collected, the better they get at spotting wasted energy for everyone.

- The m.e Platform addresses building occupants' need to understand the impact of their energy use. The m.e Power Socket has an in-built 'Impact Indicator', a traffic light system for carbon or electricity use, designed to provide a visual cue to an otherwise silent and invisible use of energy. This won't stop people using energy when they need itbut it might start people thinking of the best and worst times to use energy for both cost and carbon reasons.