Propflo, an award winning proptech company, has won an innovation grant to further develop its green engagement and decision tool to help homeowners make their properties more energy efficient. The £35k grant is part of the Business Innovation Fund, a programme funded by the West of England Combined Authority.
A key barrier for homeowners undertaking energy efficiency upgrades is that a convincing investment case isn't presented and there is then a lack of ongoing support and engagement. Propflo's tool will help solve this problem by providing homeowners with a clear and comprehensive view of the ‘green value’ they can achieve by investing in energy-efficient upgrades, and support through-out their journey with impact monitoring, next steps and a property vault for key documents in one place.
The grant will fund enhancements to machine learning models for personalised recommendations based on each homeowner's unique circumstances, overlaying Propflo’s property data, and testing an integration to smart meter data for real-time benchmarking and impact monitoring. This will help homeowners make informed decisions about which upgrades to prioritise to achieve the maximum energy savings and financial benefits, and then track these benefits over time.
Luke Loveridge, Founder and CEO, said “We are thrilled to receive this grant and continue our mission to help homeowners make more sustainable decisions about their properties. Our tool will provide lenders, estate agents and mortgage brokers with a cutting-edge tool to help homeowners overcome key barriers to retrofitting their properties, making it easier for them to invest in energy-efficient upgrades and save on their energy bills.”
West of England Business Innovation Fund
The West of England Business Innovation Fund (BIF) is a three-year project, managed by the West of England Combined Authority, that will lead to over £3m investment in supporting SMEs to undertake research and development activities. The project promotes the West of England as a champion of innovation and highlights the importance of innovation in a post Covid-19 economic recovery, including its contribution to clean and inclusive growth.
