A PORTSMOUTH technology development company is set to launch a new product for distribution network operators, potentially enabling cost saving on energy generation.
The four-man company, Senical, has been collaborating with the UK’s largest electricity distribution network operator.
Senical is one of many businesses being supported by the government’s GrowthAccelerator service.
The product, called Supply Point Monitor, is a monitoring device for distribution network operators to evaluate the power they distribute on the grid. The invention enables the distribution network operators to be greener by producing less carbon emissions.
As a result, it allows more efficient generation and distribution.
Managing director Steve Nicoll and his team benefited from GrowthAccelerator to find new connections, new routes to investment and the new ideas and strategy they needed for their business to achieve its full potential.
Steve said: ‘The support that we received from GrowthAccelerator has been a great experience.
‘We are a different business from the one that started the programme.
‘Our growth coach helped us by going back to basics, revisiting the underlying business model to examine what needed to change.
‘A new business plan was built around a refreshed business model. As a result we revised growth potential significantly over the next three years.
‘Our coach supported us in understanding the route to market and helping us to think about international opportunities.’