Themo develops smart thermostats powered by an electricity-optimization algorithm that considers time of day, weather forecasts and electricity spot-price fluctuations. When a frequency deviation is detected the algorithm can switch on thermostats briefly (for example 20 seconds) to provide aggregated balancing power without affecting home heating or costs. Themo allows electrically heated premises to earn compensation by participating in the reserve market while its thermostats also reduce consumption — customers can save up to 50% of electricity versus manual thermostats, with large rental-property operators or hotels able to save tens of thousands of euros. The company has verified 1 MW of power mass under Fingrid test conditions, has passed Fingrid's Frequency Containment Reserve (FCR-D) market requirements, and currently manages around 10 MW across its customer base. Themo plans to include B2C customers in the reserve market and aims to manage 60 MW by the end of 2026. The company also secured €1.3 million in growth funding to support product development.

Total raised

$1M

Funding rounds

2

Latest round

Equity

Latest activity

Mar 2024