In what it describes as a “massive step forward,” St. John’s-based Mysa Smart Thermostats has inked a collaboration deal with Redwood City, California’s AutoGrid Systems.
Founded in 2016, Mysa sells its smart thermostat systems across North America.
AutoGrid, meanwhile, makes virtual power plant technology — an industry term for systems that aggregate energy from a variety of different sources and allow an electrical grid to use it as if it came from a single power plant. The company says its systems let clients integrate technologies like solar panels, batteries and utility-scale wind farms into their infrastructure more efficiently with the help of predictive artificial intelligence.
In a statement, Mysa spokesperson Bradley Pretty said the AutoGrid deal is significant because it marks his company’s first commercial foray into large scale grid systems, as opposed to consumer products.
“We’ve spent the past five years growing a trusted consumer brand and building a line of products used all across North America -- but our technology can do so much more,” said Pretty.
“Alongside AutoGrid, Mysa will help revolutionize energy grids, aid in the energy transition, and ensure a much more sustainable, electric future.”
AutoGrid plans to use Mysa’s Smart Thermostat technology to extend the lifespan of legacy power systems by allocating energy more efficiently, reducing net consumption and lessening strain on electrical grids. The integrated platform will first be rolled out with Puget Sound Energy, a Washington State utility company.
Mysa said in its statement that the rollout will give Puget Sound Energy the chance to upgrade its infrastructure gradually over the coming years, while limiting upfront cost.
Last November, Mysa raised a $20.3 million Series B funding round to scale up its marketing and finance an international expansion, marking one of the largest venture capital deals in Newfoundland and Labrador that year.
Mysa CEO Joshua Green said at the time that he would use the money to more aggressively market Mysa’s three existing smart thermostat products for baseboard heaters, in-floor heating systems and air conditioners, and to develop additional product lines.