Founded in 2014 by Arjun P. Gupta, Sidhartha P. Gupta, and Ujjal Majumdar, Smart Joules is dedicated to transforming energy efficiency in India.
The company tackles the urgent challenges of rising energy consumption and carbon emissions, driven by the increasing need for cooling solutions.
With global temperatures climbing, India risks losing working hours equivalent to 34 million full-time jobs to heat stress events by 2030.
As HVAC (Heating, Ventilation, and Air Conditioning) systems account for up to 60% of energy costs in commercial and industrial buildings, Smart Joules is providing innovative, sustainable, and cost-effective solutions to address this critical concern.
The Challenge of Rising Temperatures
As India grapples with the impacts of climate change, the demand for cooling systems has skyrocketed.
By 2030, it is estimated that the country will need an additional 800 GW of power generation to meet this demand, leading to higher carbon emissions and exacerbating climate change.
This surge in cooling demand, coupled with the inefficiency of existing systems, presents a double-edged sword: while cooling is essential for the well-being of workers and communities, it also threatens to strain the country’s power grid and contribute significantly to global warming.
Smart Joules recognized the urgency of this issue early on and set out to solve it by making energy efficiency not just a possibility, but a profitable and scalable solution for commercial and industrial establishments.
Making Energy Efficiency Simple, Substantial, and Profitable
At the core of Smart Joules’ approach is the idea that energy efficiency should be simple, substantial, and profitable.
By taking a holistic approach to energy use in buildings, the company provides a range of solutions that not only reduce energy consumption but also lower costs, helping businesses save money while contributing to a cleaner planet.
JoulePays:
The company’s Pay-as-you-Save solution allows businesses to improve their energy efficiency with zero upfront costs.
With a monthly subscription model, Smart Joules handles the entire process of design, implementation, and maintenance, making energy-saving accessible and affordable for businesses across sectors.
This approach ensures that the client only pays for the energy savings they achieve, making it a risk-free proposition.
JouleCool:
Smart Joules’ flagship offering, JouleCool, is India’s first Cooling-as-a-Service solution.
This model provides a comprehensive suite of HVAC services, from installation to maintenance, without requiring businesses to make significant upfront investments.
By shifting the focus from initial capital expenditure (CAPEX) to total cost of ownership (TCO), JouleCool makes cooling services affordable, efficient, and easy to manage for commercial clients.
DeJoule:
A cutting-edge AI-powered building optimization system, DeJoule uses reinforcement learning algorithms to optimize energy usage based on building occupants’ behavior and energy patterns.
This intelligent automation technology enhances energy efficiency further by learning from real-time data, leading to continuous savings and sustainability.
Smart Joules’ solutions are designed to help businesses achieve maximum efficiency and reduce their carbon footprint.
To date, the company has saved over 193 Crore in energy costs and eliminated more than 1.67 lakh tonnes of CO2 emissions.
Journey of Innovation and Growth
Smart Joules’ journey has been marked by steady growth and a string of industry firsts.
In 2015, the company launched JoulePays, a pioneering Pay-As-You-Save business model, which revolutionized the way energy efficiency was perceived in India.
Their early success was recognized by the Ministry of Power and the Confederation of Indian Industry (CII), marking the beginning of a series of accolades for the company.
By 2016, Smart Joules had introduced DeJoule, a smart building management system that integrated AI and IoT to enhance building performance.
The company’s innovations were soon recognized internationally as well.
In 2017, Smart Joules was named one of Shell’s Top 3 #MakeTheFuture Accelerator participants, further cementing its position as a trailblazer in the energy efficiency sector.
Over the next few years, Smart Joules won multiple awards, including an International Award for a portfolio energy efficiency project from the German Energy Ministry and the prestigious Green Building Award for Apollo Gleneagles Hospital.
Expanding Footprint and Impacting Multiple Sectors
From its humble beginnings, Smart Joules has grown into a 200-member strong team with operations in over 25 cities across India.
The company’s solutions have had a significant impact on diverse sectors, including healthcare, hospitality, and pharma. Notable clients include Apollo Hospitals, KIMS Hospitals, ITC, and Amneal Pharma.
The company’s ability to scale its operations was highlighted by its rapid growth following a successful Series A funding round in 2021, where it raised USD 5 million.
In 2023, Smart Joules made its foray into the Indian hospitality sector with Le Meridien, Gurgaon, and by 2024, it had expanded internationally, with its first DeJoule system commissioned in Indonesia.
A Vision for Decarbonization
Smart Joules’ vision is ambitious but attainable: by 2030, the company aims to reduce 29 million tonnes of CO2 emissions, contributing significantly to India’s decarbonization goals.
The company believes that energy efficiency is not just about saving energy, but about creating a profitable business model that can drive systemic change in the way India consumes energy.
Through intelligent automation, innovative business models like Cooling-as-a-Service, and a commitment to sustainability, Smart Joules is paving the way for a future where energy efficiency is both simple and profitable.
In 2024, Smart Joules secured USD 8 million in debt funding from Denmark’s IFU, enabling further expansion.
The company’s growth trajectory points to continued success in driving energy efficiency, combating climate change, and promoting sustainable business practices across sectors.
