EEI > Resources & Media > Newsroom > EEI and IEI Award Inaugural E Prize for Innovation to 1776 Challenge Cup Competitor Ecoisme
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EEI and IEI Award Inaugural E Prize for Innovation to 1776 Challenge Cup Competitor Ecoisme
WASHINGTON (June 15, 2016) – The Edison Electric Institute (EEI), along with the Institute for Electric Innovation (IEI), announced today that Ecoisme, a home energy monitoring technology startup, has been awarded the inaugural E Prize for Innovation. Ecoisme was selected from among competitors in startup incubator 1776’s annual Challenge Cup Global Finals & Festival. Ecoisme Co-Founder Alexander Diatlov attended EEI’s Annual Convention this week in Chicago, where he met with key industry leaders and showcased the company’s technology to a wide array of stakeholders from the electric power industry. 

“Congratulations to Ecoisme for winning the inaugural E Prize for Innovation for its home energy management technology,” said Brian Wolff, executive vice president, public policy and external affairs at EEI. “The more electric power companies and startups like Ecoisme can work together, the greater our chances for success will be in providing our customers the clean energy solutions they want.”

The E Prize for Innovation recognizes a promising energy startup from the 1776 Challenge Cup Global Finals & Festival, held last week in Washington, D.C. During the Challenge Cup, EEI and IEI announced that they entered into a new partnership ​with 1776, which includes the creation of the E Prize for Innovation. The E Prize for Innovation also includes a one-year membership to IEI’s Technology Partner Roundtable.

"Today, customers demand more choice in energy use and consumption than ever, and companies like Ecoisme are developing the hardware and software that will enable customers to more actively manage their energy use," said Lisa Wood, Edison Foundation vice president and IEI executive director. “At the Technology Partner Roundtable, Ecoisme will gain a window into the top-level discussions that our industry's leaders are having on how to identify and deliver the energy future our customers want."

The winner of the E Prize for Innovation was selected by a panel of electric power industry and technology company experts. These experts considered a wide range of criteria, including whether the technology is applicable to the electric power industry and provides demonstrable benefits; whether it is relevant to a strategic area of interest for the industry as a whole; whether the company has had a proven track record of success; and whether the company’s founders have a sophisticated insight into the market in which they plan to deploy their product. 

"Ecoisme is changing the way consumers monitor energy consumption in their homes," said Evan Burfield, 1776 cofounder & co-CEO. "We continue to believe that great companies are being built across the globe, and we're proud to have discovered Ecoisme through our Challenge Cup series."

“We’re very excited to receive the E Prize for Innovation and to have the opportunity to showcase our technology to the top leaders in the electric power sector,” said Ecoisme’s Diatlov. “We believe this opportunity will help us reach the next level in scaling our technology and allowing us to make a meaningful impact on tomorrow’s clean energy future.” 

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