Proptech firm promising to ‘dramatically’ reduce time to sell wins £1.2m

first_imgHome » News » Proptech firm promising to ‘dramatically’ reduce time to sell wins £1.2m previous nextProptechProptech firm promising to ‘dramatically’ reduce time to sell wins £1.2mTwo leading estate agents are part of funding round for Orbital Witness, which is part of Land Registry efforts to reduce conveyancing from weeks to days.Nigel Lewis16th May 201902,712 Views Two leading estate agencies are part of a fund-raising pool that has today helped find £1.2 million in seed funding for a ground-breaking conveyancing disruptor.JLL’s proptech subsidiary Spark and London estate agency LiFE Residential’s tech arm have invested the money alongside cash from leading early-stage fund Seedcamp.The start-up is Orbital Witness founded by Ed Boule and Will Pearce, which has been one of the key participants in the Land Registry’s attempts to inject tech into the home buying process and drastically reduce transaction times.Obital Witness uses tech to help conveyancers and solicitors ‘de-risk’ property purchases automatically by spotting potential problems and therefore speeding up transactions by giving title and local searches a ‘clean bill of health’.Weeks to daysIts service is one of the key planks in the emerging potential in the Land Registry’s Digital Street project which, it is claimed, will soon reduce property transactions from weeks to days.Orbital Witness’s tech is being piloted by leading conveyancing firms including Mishcon de Reya, Clifford Chance, Reed Smith and Macfarlanes.“A key part of our technology strategy is to use cutting edge tools to deliver client services faster, better and more efficiently,” says Nick Kirby from Mishcon de Reya.“Orbital Witness does exactly that – it allows us to provide meaningful insights to our clients in an instant.”Jonathan Werth, Managing Director of LiFE Ventures (left), says he has been watching Orbital Witness for several months and “really struggled to find a reason not to invest”. “We understood the product from the beginning and the value it brings to all parties involved in the property transaction process.”Land Registry proptech LIFE Residential Orbital Witness JLL jonathan werth May 16, 2019Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021last_img read more

Biggest Texas solar facility to be linked with electricity storage unit

first_img FacebookTwitterLinkedInEmailPrint分享PV Magazine:Most of the renewable energy news we hear coming from Texas is that it has built the nation’s largest fleet of wind power – which is in large part by socializing the cost of power lines to bring that power to the state’s population centers. And as a result of this, the economic viability of the state’s coal fleet is being stressed and shut down. Sometime soon–perhaps in 2018–Texas may see more electricity generated from wind than coal.But that is not all. The state is finally getting some Texas-sized energy storage – and it is being added to Texas’ largest solar power plant. In a PowerPoint delivered by Vista Energy on investor day, they referenced the upcoming energy storage project.The facility will be a 10 MW / 42 MWh lithium ion battery. In its documentation, Vista Energy notes that the solar power plant has a peak output of ‘nearly 200 MW,’ even though its interconnection application is only 180 MW.Thus, the energy storage plant will be used to capture the power that is being clipped. The PowerPoint also states that the batteries can be charged during lower priced periods overnight, and discharged in the morning, to arbitrage the difference in prices.The presentation suggests the energy storage facility will be used to firm up the capacity being delivered by the solar power plant. In the above image, they present a case for ‘wider shoulders’ during peak solar power production, along with more consistent, predictable and slightly extended ramp-up and ramp-down periods.More: Texas to get its largest battery, coupled with its largest solar power plant Biggest Texas solar facility to be linked with electricity storage unitlast_img read more