Simple Energy announced that the company has been selected to present at the upcoming Venture Capital in the Rockies Winter event, which showcases the Rocky Mountain Region’s most promising new companies. With an audience of more than 300 venture investors, CEOs, entrepreneurs and service professionals, VCIR Winter facilitates the connections that make this region a premier location for entrepreneurship.
“We are honored to be included in this event and look forward to the opportunity to present our company to the VCIR Winter audience,” said Yoav Lurie, CEO of Simple Energy. “As a recent TechStars graduate that has already achieved promising results in the energy sector, Simple Energy is an exciting company with a strong team and a demonstrated potential to revolutionize one of the world’s largest industries.”
Simple Energy changes how utilities engage customers through leveraging the power of social networks, behavioral economics and game mechanics to motivate people to save energy, making it social, fun and simple. The company works with utility partners to deliver measurable and verifiable energy efficiency, demand side management, and smart grid results via an online platform that helps users understand their energy use with actionable insights, that scores them against their Facebook friends and that rewards them with real prizes.
The Simple Energy platform normalizes energy usage across wide geographic areas, allowing participants to compete with their friends and neighbors — similar to a golf handicap. In addition, players can form teams in order to compete on behalf of a cause that they support, such as a school or community organization. Finally, the program follows strict privacy guidelines, simply comparing normalized scores among users without revealing any personalized, individual details about actual energy consumption.
This social gaming approach has already been proven to deliver dramatic results. In a recent energy efficiency program piloted in California, the Simple Energy platform succeeded in more than doubling energy savings among participating residential customers in San Diego. With an average savings of more than 20% and the winner of the competition saving nearly 50% on home energy consumption, these results far surpassed those of a similar trial completed in Texas without the use of the Simple Energy system.
“The amazing results from California clearly demonstrate that the Simple Energy approach to motivating people to save energy really works,” explained Yoav Lurie, CEO and co-founder of the company. “People are naturally social and they like competing to win points and prizes. By allowing them access to their energy usage data in a fun and simple way on platforms where they are already spending their time such as Facebook, we make saving energy into an easy and enjoyable experience.”
In addition to the San Diego program, the Simple Energy platform is already available to customers of California’s three largest utilities via the Green Button initiative, a White House coordinated program that encourages utilities across the country to make energy usage data available to customers. Simple Energy also integrates with data from the Smart Meter Texas program, and is currently developing plans to partner with several other utilities.
Read more about the other companies that will be presenting in the official VCIR press release.