London-based Guru Systems is in the running for District Heating Project of the Year at the H&V News Awards.
The smart payment and energy efficiency monitoring company has been shortlisted for the technology it developed as part of DECC’s Heat Network Innovation Competition.
The competition saw the firm develop powerful machine learning algorithms to remotely diagnose inefficiencies and propose costed measures to improve heat networks.
As part of the project Guru Systems carried out trials on four heat networks across the UK.
By using the technology, operators could reduce input fuel use by between 30 and 50 per cent, equating to an average saving of £179 per home per year.
Guru Systems estimates that if the technology was rolled out across the UK it could save heat networks £400m in reduced energy costs over the next 10 years.
The web-based platform is due to launch to market in April.
The H&V News Awards is an annual celebration of excellence, forward thinking and the highest achievements across the sector.
Guru Systems will find out if it has been successful on Thursday April 21, 2016 at a ceremony at Grosvenor House Hotel in London.
Casey Cole, Managing Director of Guru Systems, said: “The H&V News Awards are highly recognised across the sector and it is testament to the hard work of the Guru team that we have been shortlisted.
“2015 was a monumental year for us and already 2016 is proving to be just as successful.”
The company, which launched its smart payment and energy efficiency monitoring systems in 2012, works with operators of 85 of heat networks across the UK.