OVO, a U.K.-based competitive retail energy supplier, announced that it successfully completed the acquisition of U.S. energy technology company, VCharge.

VCharge offers a Residential Thermal Storage system and other grid management services and devices

VCharge also formerly acted as a retail supplier, but withdrew from the retail energy supply business to focus on other businesses (see story here)

OVO said that VCharge's various technologies uses advanced algorithms to balance grid requirements with individual user requirements. The first application of the technology controls electric storage heating in social housing to better manage resident comfort and to address the issue of fuel poverty in local communities, while simultaneously supporting the widespread adoption of renewable energy by providing valuable grid balancing services, OVO said

VCharge heating controls are fitted to new or existing electric storage heaters and can be controlled via a smartphone. "When coupled with a new smart tariff, residents experience dramatically improved comfort, lower bills and have control over their heating systems for the first time," OVO said

"VCharge has completed a number of successful trials of the technology over the last year with major social housing landlords in London, Scotland and the North East, and, with OVO, will begin offering free heating control upgrades combined with a new smart energy tariff to the 1.5m households in Great Britain with electric storage heaters later this year," OVO said