All sectors / Energy & power / Evolve Energy
San Francisco, California, United States
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Evolve Energy is a Houston-based energy startup that uses AI and machine learning to optimize electricity consumption. The company operates on a subscription model, charging a $10 monthly fee plus the cost of wholesale electricity, which fluctuates based on market conditions. Evolve Energy’s technology predicts energy price surges, enabling customers to reduce their consumption during high-price periods. By pairing its services with smart thermostats, Evolve helps residential users save up to 40% on their electricity bills annually. Rather than acting as a traditional energy provider, Evolve positions itself as an energy manager, offering efficiency without markup on the wholesale cost. This model has proven popular with customers, enabling both cost savings and a greener energy system. In 2020, the company was acquired by Octopus Energy, which is using Evolve's technology to expand its renewable energy efforts in the U.S.
Michael Lee
CEO
Operating since 2018
10 Members
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