Swapnil Shah CEO, Co-Founder“The name FirstFuel,” begins founder and CEO of the company, Swapnil Shah, “comes from the idea that energy efficiency should be considered the first fuel. In other words, instead of building a new coal or gas plant, get the electrical power you need from energy savings.” In an arena where companies use complicated algorithms to analyze the energy consumption of a building and then energy-saving solutions are suggested, FirstFuel’s approach escalates it to being silverback of the pack.
FirstFuel is an intelligence provider for utility companies and commercial building owners. The analytics software technology, which the firm offers allows its customers to create rich information on buildings. Post this process, the information is analyzed to make recommendations to achieve efficiency savings. “The information is very specific,” says Shah. “We don’t just say you need more energy-efficient lights. We can tell the building manager he needs to replace five lights on the 14th floor.”
Today’s building industry is experiencing an era of change, as it is moving towards reducing energy, carbon, and environmental footprints produced from commercial and residential buildings. The transformation is being driven to optimize and conserve resources, minimize the operating costs and the environmental impact of buildings.
“Commercial buildings in North America use huge amount of energy to meet the rising consumer demand,” notes Shah. “The ability to reduce energy consumption in those buildings can have a huge impact, both economically and environmentally,” he continues.
FirstFuel offers Software-as-a-Service (SaaS) platform, aimed at transforming the energy sector. The platform comprises of FirstEngage and FirstAdvisor, which enables energy providers to apply analytics to their customer’s meter and business data, focused to deliver rich and actionable insights for every client.Whereas FirstEngage’s no-touch program promotion and multi-channel delivery, allows customers to directly, quickly, and cost-effectively access their personalized energy use information. This solution allows customers to directly access detailed information about their energy use and recommendations for efficiency and bottom-line savings.
Our online web portal helps clients to track the energy consumption and series of energy saving actions for a significant impact on a business’s bottom line
Many small and medium enterprises (SMEs) do not own their properties; hence, it becomes difficult for them to take actions to reduce energy costs. To combat this issue, “our online web portal helps clients to track the energy consumption and series of energy saving actions for a significant impact on a business’s bottom line,” states Shah.
FirstFuel’s best-of-breed platform allows energy providers to fully engage with their clients to deliver energy efficiency, demand management, and on-site generation at scale. In one such instance, E.ON, an investor-owned electric utility service provider collaborated with FirstFuel to help SMEs benefit their customers with their energy saving analysis and tools.
With FirstFuel, E.ON could develop an Energy Toolkit, which enabled customers to conduct their own analysis for each building. The Toolkit used customer information like electricity consumption data, building data, addresses, and other information to identify energy use patterns and calculate the ways in which energy usage could be reduced. “Our platform enables E.ON to implement deep data analysis across its customer base at scale, providing their customers with the ability to share actionable insights with energy consumers,” elucidates Shah.
Keeping pace with the evolving regulated and deregulated utility markets, FirstFuel has raised $23 million in its Round C funding to grow its energy auditing and utility measurement and verification business globally. In the days to come, “we aim at helping the platform providers mine data and extract meaningful information, coupled with energy storage and on-site generation to eliminate peak demand,” concludes Shah.