£1m council deal
iOpt to install innovative sensors in housing stock
Dane Ralston; with head of technology Jack Slater and operations director Stewart Carruth
Temperature and gas monitoring firm iOpt has won an innovative £1 million contract to install sensors promising to improve the lives of housing tenants and cut property management costs.
iOpt’s groundbreaking Internet of Things technology measures temperature, humidity and carbon dioxide levels in properties, providing early alerts on issues such as problems with ventilation and potential dampness.
Supported by the Scottish Government, the partnership with Renfrewshire Council is believed to be the first of its kind in Europe, if not globally.
iOpt managing director Dane Ralston said: “We believe the contract with Renfrewshire Council has made IoT history and shows that Scotland is a world leader in the field.
“The world is changing at great pace, and we see remote asset monitoring of this kind as a key addition to any energy efficient home. To date, our studies have shown savings of approximately £190 per year per property.”
It is hugely encouraging to see Scotland continue its proud tradition of world-leading innovation– Ivan McKee
The two-year project will begin when lockdown restrictions are eased. It will see sensors fitted into selected empty properties being prepared for new tenants, who will also be supported with energy efficiency advice and guidance.
The initiative has £150,000 support from the Scottish Government’s CanDo Innovation Fund.
Minister for Trade, Investment and Innovation Ivan McKee said: “During these unprecedented times it is hugely encouraging to see Scotland continue its proud tradition of world-leading innovation.”
The Renfrewshire deal was hotly contested, with iOpt beating competitors from Sweden, Holland and Ireland. .
iOpt’s lead investor is Mactaggart & Mickel Investments, the investment arm of one of Scotland’s major house builders.
Corporate investors include Scottish Investment Bank, the investment arm of Scottish Enterprise, plus a US IoT technology leader.
Mr Ralston said they were embarking on the next round of funding to accelerate growth plans, aiming for investors in the property, data and tech sectors who can add value and expertise.