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Icelandic sustainable energy management solutions

Icelandic startup ReMake Electric was recently awarded the 2012 Europe Early State Investment Opportunity Award by Frost & Sullivan Market Research and Consulting.

According to Frost & Sullivan, ReMake Electric has demonstrated excellence in its intellectual property, the experience of its management, its funding history and quality of its investors.

“ReMake Electric provides sustainable energy management solutions that help customers optimise their energy usage,” Frost & Sullivan Senior Analyst Vinod Cartic states in a press release on the company’s website. “Simple, innovative and versatile solutions promote energy conservation, while enabling customers to make economic gains.”

The firm excels in developing basic electrical metering products for energy consumption monitoring and analysis. It optimizes energy usage and creates savings on the energy bills of its customers, primarily based in Europe, through the development of electrical metering products. The company serves both residential and commercial customers, among them IKEA and Coca Cola.

In 2010 the company received the Golden Egg Innovation Award as the winner of the Icelandic Innovit innovation competition. Then, a total of 300 business ideas were submitted.