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Senztek doubles its sales
Avondale technology company Senztek saw its sales double last year thanks to its new super-smart energy demand controller.
The new technology allows power companies to improve management of domestic consumption while consumers can plan ahead and save on power bills through better understanding and self-management and control of their individual usage needs.
Senztek provides smart technology for heating and maintenance of mainly solar generated hot water, with an active R&D programme introducing other technologies moving the company from intelligent measurement technology to smart energy management.
Due to using energy smarter Senztek became a joint winner of the $1 million Entrepreneurs’ Challenge run by the University of Auckland.
The 18-year-old company, which has seen an increase of sales of almost 100% in the past year, is using the funding to boost its R&D and fast-track expansion plans into Europe.
Due to such rapid growth the company had to move to larger premises last week and is on the hunt for more staff, bringing its current numbers to more than 25.
Using energy smarter saw Senztek as a joint winner of the $1m Entrepreneurs’ Challenge run by the University of Auckland.
Now the company is being swamped with interest from New Zealand and Australia for its next-generation product that will benefit both power companies and their customers.
Brian Knolles said Senztek’s Australasian business was booming too.
“Based on our existing Australian clients, we are confident our Australian business will be up 50% year on year. This is helped by their government’s initiatives of subsidies and grants to homeowners and also legislation requiring people to install alternative energies. For instance, by 2013 you will be able to replace a hot water cylinder only with dual for example electric and solar, not just electric.”