DOST-assisted startup offers AI tool to cut electricity costs

Link board for Exora procurement platform

Filipino business owners can save money by reducing their electricity bills with the use of a locally developed smart energy analytics platform, the Department of Science and Technology (DOST) announced recently.

The DOST-assisted energy tech startup Exora Technologies’ electronics board is an artificial intelligence (AI)-powered system that assesses a client’s profile and behavior using historical and real-time data.

Called Exora Source, the platform can find the best retail electricity suppliers (RES) for customers with a monthly electricity bill of P2.5 million or higher, saving up to 30 percent in their electricity bills.

The electronic device called a procurement gives the consumers remote access to at least 79 percent of the available retail power in the market.

This allows them to see which RES have high ratings in the system and is most suitable to their energy needs.

Exora also offers a cloud-based energy-monitoring and reporting tool called Analytics so that facility engineers can keep track of power consumption online.

Both systems, Exora Source and Analytics, are capable of remote energy monitoring and procurement.

Exora will serve as the dedicated procurement arm to provide positive customer experience using Intellex.

The biggest mall chain in the Bicol region, LCC adopted the technology and acquired three retail electricity contracts that save it almost P6 million annually.

Exora Technologies is supported by the Technology Innovation for Commercialization (Technicom) program of Department of Science and Technology’s Technology Application and Promotion Institute (DOST-TAPI) and monitored by the Philippine Council for Industry, Energy and Emerging Technology Research and Development (DOST-PCIEERD). The startup is housed at the Creativity and Innovation Hub of Ateneo de Manila University,

“We believe in the huge potential of this technology to minimize energy waste and maximize savings on electric bills, so we invested in it,” PCIEERD Executive Director Dr. Enrico C. Paringit said.

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