OVO has acquired US energy technology company Vcharge.

The US company’s technology uses  algorithms to balance grid requirements with individual user requirements. The first application of the pioneering technology controls electric storage heating in social housing to better manage resident comfort and to address the issue of fuel poverty in local communities, while simultaneously supporting the widespread adoption of renewable energy by providing valuable grid balancing services.

Vcharge heating controls are fitted to new or existing electric storage heaters and can be controlled via a smartphone. When coupled with a new smart tariff, residents have better comfort, lower bills and control over their heating systems. It has completed trials of the technology over the last year with major social housing landlords in London, Scotland and the North East, and, with OVO, will begin offering free heating control upgrades combined with a new smart energy tariff to the 1.5 million households in Great Britain with electric storage heaters later this year.

The acquisition is the first in OVO’s seven year history. Chief executive Stephen Fitzpatrick said, “We believe this platform will harness the potential of energy storage in reducing dependency on fossil fuels, while helping to make energy more affordable for all.”

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