AirEx Technologies awarded £1 million innovation loan funding from Innovate UK
AirEx Technologies, a pioneer in smart home solutions dedicated to addressing fuel poverty and climate change, announced the receipt of £1 million in innovation loan funding from Innovate UK. This substantial funding will further propel AirEx's mission to support the upgrading of UK homes by enhancing energy efficiency and resident wellbeing, with a particular focus on aiding those experiencing fuel poverty.
Recognising the urgent need to rethink how we address fuel poverty in the UK, AirEx has developed a smart ventilation control system, equipped with sensors to monitor temperature, humidity, and air quality, that sets a new standard for measuring and responding to environmental conditions in housing stock. Endorsements from regulatory bodies like Ofgem and recognition within the Energy Performance Certificate (EPC) framework validate the efficacy of their technology.
AirEx's achievements include commercialising the world's first smart airbrick, engineered to assist social landlords in improving energy efficiency in their housing stock. Suspended floors are a critical source of a house’s heat loss but are often overlooked in retrofit measures due to the costly and disruptive nature of traditional insulation. AirEx’s innovative solution means that this forgotten area of home upgrades is now the next quick win in energy efficiency retrofit.
Launched in 2020 by Agnes Czako and Sustainable Ventures, AirEx has rapidly evolved into a leading player in the cleantech industry. The recent Series A funding successes, including investments from Barclays Sustainable Impact Capital and Nesta Impact Fund, underscore AirEx's potential to drive meaningful change in the transition to a low-carbon economy.
“With our first product, AirEx Floorvent, now being installed at scale across the UK, we are delighted with this new innovation loan funding from Innovate UK which recognises the stage we are at as a fast-growing business and will support us in developing new products to reach new markets and help more people experiencing fuel poverty.”
The Innovate UK funding and these investments will not only accelerate the commercial expansion of their smart airbrick technology but also facilitate the development of new products to address emerging challenges in social housing, particularly ventilation needs for healthy homes and resident wellbeing. The innovation loan will support the design and development of AirEx’s room-level system that will help landlords provide effective, demand-responsive ventilation in homes and protect their customers from health issues associated with damp, mould and poor air quality. AirEx actively engages with registered social landlords to gain insights into their challenges and explore how our products can provide further value. By fostering open communication and collaboration, AirEx seeks to understand the specific needs and pain points of housing providers, enabling the development of tailored solutions that address their unique challenges effectively.
“Innovate UK innovation loans help to deliver growth and scale of businesses through innovation and we are pleased to make this funding available to a business with high growth potential in the net zero economy of the future.”
Innovate UK, the UK's national innovation agency supports business-led innovation in all sectors, technologies, and UK regions. Their support for AirEx Technologies reflects a shared commitment to fostering innovation and driving positive change.