Marcus Richards
OakTree Power partners with global grid operators to enable the ongoing transition towards a fully sustainable electricity system of the future.
Our mission leads us to collaboratively empower our clients to reduce their Co2 emissions while earning significant annual recurring revenues and benefitting from a wide array of net-zero opportunities.
Tell us about yourself?
I previously worked for NASDAQ-listed Gentrack, a global cleantech PLC, where I served as Sales Director. I also formed part of the leadership team at KiWi Power, delivering at scale proven smart grid and VPP global platform solutions.
I have been, and continue to be, an advocate for the global adoption of clean technology solutions. OakTree Power is ideally positioned to take advantage of the technological changes reshaping an increasingly integrated and efficiently managed global energy network.
If you could go back in time a year or two, what piece of advice would you give yourself?
If I could go back a couple of years I would encourage myself to read more books and take courses to learn the fundamentals of Python and drive business decisions through data analytics. I’ve always enjoyed learning new things and I have a couple 6-week courses lined up.
What problem does your business solve?
Buildings are one of the biggest contributors to carbon emission globally, with the IEA reporting that the buildings and construction sector contributed to over a third of global CO2 emissions in 2019.
With the UK government’s big push to reach net zero by 2050, buildings need to start addressing their emissions immediately.
However, the goals that are set are ambitious and expecting companies to be able to meet these goals whilst also continuing to grow their business may be unrealistic.
What is the inspiration behind your business?
This is where OakTree Power comes in. We help buildings reduce their Co2 emissions and energy costs to bring them one step closer to the Net Zero goals, all while generating new income without capital investment.
This is achieved through our demand-side-response (DSR) programme, which simply put, turns electricity consumption up or down during times of peak demand.
What is your magic sauce?
We offer a solution that was previously only available at an industrial level to large and medium-size commercial buildings.
Our demand side response programme means that electricity in commercial buildings can be intelligently reduced for short periods, without impacting their performance and for the first time, allows them to be financially rewarded to do so.
What is the plan for the next 5 years? What do you want to achieve?
With the expansion of OakTree Power’s solution, we hope to create the region’s first fully sustainable electricity network, where properties use electricity that’s essential for their performance and contribute to other infrastructures’ consumption.
As the building industry is currently one of the main culprits in CO2 emissions worldwide, we want to radically change this, turning the industry into an enabler in reaching net zero targets.
We hope for all commercial buildings to adopt our technology and play their part in helping us to reach our net zero goals as quickly and efficiently as possible.
What is the biggest challenge you’ve faced so far?
In any business there will be challenges to overcome and I always remember Hoot’s Law from a documentary I watched. It is basically an astronaut’s guide to problem solving and I always pause to think through the problem and possible outcomes and long term impact before making a decision.
I’ve learnt in the past that making reactive decisions in the moment can sometimes make the problem much worse.
How do people get involved/buy into your vision?
OakTree Power is committed to establishing an open collaborative working approach with industry, policymakers, and co-opetition, empowering companies and our clients to promote the changes leading to a sustainable world.
Having already worked with Pinsent Masons to provide DSR services at their London HQ, alongside other leading FTSE 250 companies, we are looking to expand our offering to other corporations in London and Europe.
Businesses that meet the qualifying criteria can reach out to OakTree Power to put our solution into place at no cost expense and earn money back as they reduce non-essential energy consumption and accelerate their net zero goals.
