Smart Home: Tado buys specialists for flexible power consumption

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The Munich smart home company Tado has bought the Austrian company Awattar. Awattar is a provider of so-called time-variable electricity tariffs and develops technology with which electricity consumption can be regulated flexibly and automatically.

Awattar’s technology can buy electricity when it is particularly cheap. According to a report in the Handelsblatt, this could help, for example, when charging the electric car: it is charged when the electricity is particularly cheap. On the other hand, if the electricity costs a lot, the charging process can be interrupted, Tado co-founder Christian Deilmann told the business magazine. In this way, customers could save 10 to 40 percent of their electricity needs. Such flexible power consumption can also avoid overloading the power grid.

Tado has so far been known primarily as a manufacturer of smart thermostats, and the company is also developing an app for controlling heating and air conditioning systems. In its most recent financing round last May, Tado received 38 million euros. Investors include Siemens, Eon and Amazon.

“Awattar’s technologies add great value to customers. We look forward to working with them to create a better energy future in Europe – energy that is in harmony with nature and used when the wind blows or the sun shines “, writes Tado manager Deilmann in a press release. Tado even offers technology to save electricity: the smartphone app detects when the residents leave their homes and regulates the heating or air conditioning accordingly.

“It is great to see how the intelligent thermostats from Tado can change the energy demand in our time-variable tariffs,” commented Awattar CEO Simon Schmitz. “We can hardly wait to develop these technologies together for our customers.”

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