USIO is a new entrant to the UK domestic energy market, using A.I. to provide a more personalised service to users.

USIO raised £591,188 as an EIS investment opportunity via SyndicateRoom in January 2018.

The story

Founded by Vincent Tuk, USIO leverages new, currently optional, regulations introduced in June 2017 that allow energy suppliers to buy energy in 30-minute intervals to match the actual demand of individual households. These regulations will become mandatory to all suppliers in 2020, by which time USIO hopes to have built upon its first-mover advantage.

USIO uses its own A.I technology to learn about the lifestyle of its customers and match the energy it buys accordingly, ensuring that customers do not pay peak hour energy prices if they are not using them. Progressively, USIO also provide tips to their customers when energy is especially cheap or green.

Users can already sign up to USIO, with installment of the meter included in the tariff. USIO can normally be found among the five cheapest tariffs on price comparison websites and by October 2017, the company already had over 200 paying customers. They have set the goal of reaching 250,000 customers by year end 2019 and becoming a challenger to the ‘big six’ in the UK energy market.

In addition to lower prices, the customer can use USIO’s app to see what they’re being charged at any given moment. Moreover, USIO’s AI platform monitors customers’ energy usage in order to see how the company can trade energy more efficiently and save both its customers and the company itself money.

The company is also planning to expand to European markets in the future.

Vincent Tuk has an MBA from INSEAD and has formerly been an M&A advisor at Shell and an Engagement Manager at McKinsey before founding Cleanreturns, an energy consultancy. He is currently founder and CEO of USIO.

The lead investor

USIO Lead investor Leandro has over 20 years’ experience in investment banking. His resumé features leading firms such as JPMorgan, Merrill Lynch, Deutsche Bank, UBS and BNP Paribas.

USIO is Leandro’s fifth early-stage investment — his third in Europe. He holds an Industrial Engineering degree from the University of São Paulo and an MBA from INSEAD. Leandro is the Investor Director on the USIO board and invested £40,000 into this opportunity.

‘USIO’s innovation in dealing with energy distribution delivers fast, real and tangible monetary benefits to customers. There is no value proposition stronger than that. In addition, USIO’s timing is perfect vis-à-vis the changing regulatory environment in the UK (and other EU markets)’

Leandro Pedroso do Almeida

Lead investor

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