iEP2 Group Pty Ltd

iEP2 has developed a breakthrough disruptive electrical safety device to resolve a global problem that has remained unsolved for the past 70 years... until now!

With an IoT platform, iEP2 has created a cutting-edge 21st-century safety device and a sustainable business revenue model by merging its unique technologies. Billions of safety devices are installed worldwide, contributing to a global market with an estimated 400-500 million devices sold annually, generating approximately $7 billion in ex-factory revenue.

The Market

Residual Current Devices (RCDs), Residual Current Breakers with Overcurrent Protection (RCBOs), and Ground Fault Circuit Interrupters (GFCIs) are mandated by regulations to be installed on most electrical circuits in all global jurisdictions. Their critical purpose is to protect against earth leakage electric shock, which can cause electrocution or permanently debilitating mental or physical injury.

Problem

While safety devices usually protect against electrocution, they do not always safeguard against earth leakage electrical shocks of up to 30 mA, posing a risk of permanent physical and mental injury. Additionally, about 10% of installed devices do not function correctly or at all. Electrical safety devices such as RCDs, RCBOs, and GFCIs are required to be individually tested once or twice a year. This testing is mandated in Australia, whereas in other countries, it is required but not mandated due to prohibitive labour costs. However, this is changing, especially in the UK and the US.

Solution

iEP2's Patented Intelligent Fault Supervisor (iFS) elevates protection by continuously monitoring circuits for faults and independently isolating them when traditional RCDs, RCBOs, or GFCIs fail to detect a fault.

Advanced Device Testing Automation: iEP2's unique remote RCD Auto Testing and Reclose system excels in technical comparisons with competitors.

Simplified Installation: Unlike traditional systems that require complex wiring, iEP2's solution offers easy-to-clip modules and straightforward connectivity to a Gateway via Ethernet.

Remote and Automated Testing: The system's standout feature is its remote and fully automated testing process, eliminating the need for on-site electricians and enabling automatic device re-closure through their IoT SaaS system.

Cost-Effective: iEP2 modules are efficient and cost-effective, providing a competitive edge in the market.

Unique Offerings: What sets iFS apart is its ability to independently isolate circuits when RCDs, RCBOs, or GFCIs fail to detect a fault, thereby preventing electrocution or a 30-mA shock. With remote monitoring and self-testing capabilities, iEP2's unique Clip-On Module houses iEP2’s iFS, Self-Testing Device, or IoT SaaS (either in combination or individually) for attachment to popular RCBO brands like Hager, ABB, Legrand, Schneider, and Siemens. This game-changing approach to electrical safety bridges the gap left by traditional devices.

About iEP2

Innovation is at the core of iEP2's vision. The company's commitment to exceptional research, development, quality, and service has positioned it to lead the global market into a new era of electrical safety products.

iEP2’s goal is to provide the community with safer, higher-performing products that are cost-effective and backed by attentive customer service.

Milestones Achieved

Strategic Business Plan: Meticulously crafted a dynamic business plan targeting an AUD$7 billion global market, setting the stage for substantial growth and market penetration.

Adept Management Team: The management team is equipped to efficiently execute the strategic plan and drive the company's success.

Prototyping Readiness: Reached a significant milestone with fully developed prototypes and module concepts/designs, poised for rapid commercialisation.

Research and Innovation Excellence: World-renowned research and development engineers spearhead research and innovation initiatives, ensuring products remain at the forefront of technological advancement.

Strategic Alliances: Forged strategic alliances and partnerships with leading technical, manufacturing, and distribution entities worldwide, bolstering global reach and capabilities.

Extensive Distribution Network: Access to over 106 global distributors, positioning the company for early revenue generation and a pathway to profitability.

Disruptive Technology: Groundbreaking technology has the potential to attract significant interest from potential trade sale bidders, highlighting its disruptive impact on the market.

Valuable Intellectual Property: Secured strategic patents and intellectual property rights, further fortifying the company’s position in the industry.

Use of Funds

The allocated funds will be strategically deployed to drive iEP2's growth and innovation. Key priorities include:

• Recruiting top talent for the management team.
• Reinforcing the internal R&D team.
• Building international technical support capabilities.
• Strengthening the patent portfolio.
• Developing versatile Clip-On Device Modules.
• Creating SaaS software for automated functions.
• Expanding the company’s reach into global markets through targeted marketing efforts.

These investments will position iEP2 for continued success and leadership in the IoT technology sector.

Currently, Residual Current Device (RCD/RCBO/RCCB) technology is required to be installed wherever there is an electrical circuit such as a home, office or factory, on all the main circuits and usually at least three per home in Australia. Many other much larger global markets have similar provisions in their building codes. Billions of units are installed worldwide in a global market and estimated $7 billion p.a. ex-factory revenue.

The RCD aims to prevent electrocution and usually does. However, it is well documented that in some circumstances a residual 30 milliamp (mA) shock, which can be harmful, may still occur.

While electrocution rates have improved, the liability concerns from earth leakage electric shocks are so significant, that the MDs of corporates such as BHP are immediately notified when an employee is compulsorily hospitalised for examination after an earth leakage event – many thousands of course never get to have timely intervention, and quality attention.

There are situations, markets and installation environments where the existing RCD technology, which requires a functioning path to earth to operate, does not reliably work (and may never work) as intended because of a deficient earth path.

To prevent 30mA shocks and property damage, iEP2’s products, which do not rely on an earth path to isolate a faulty unsafe circuit, deliver a safer and more reliable solution than traditional RCDs.

iEP2's Device - Overcomes Unreliable Isolation

• To prevent injury from up to 30mA earth leakage electric shocks, and eliminate hospitalization, GP admittances, and equipment/building damage caused by the failure of a conventional RCD sometimes automatically to identify earth leakage and disconnect a circuit;
• To prevent electrocution in circumstances where the RCD cannot isolate;
• To reduce the incidence of false tripping;
• To reduce the incidence of fires caused by earth leakage.

So you thought Electricity was safe: well, it’s not

“Advances in electrical safety have contributed greatly to the well-being of humans in the built environment; however, the potential for danger from exposure to electricity through electric shock, fire, burns, explosions and electrocution is still significant...”

From the academic paper: Analysis of Electrical Incidents in UK Domestic Properties

Accident Statistics UK Homes in 2022

• Faulty Electrical Equipment Caused 70 deaths and 350,000 injuries.
• Electricity Biggest Contributor To Accidental Fires Affecting 20,000 Homes pa

About 400 million devices are annually sold worldwide with billions installed.

To manually test each device once or twice a year and record test details is labour-intensive and costly.

In Australia testing is legally mandated at a high cost to businesses. Though other countries regulate similar testing requirements they do not regulate compliance with penalties because of the high cost.

The opportunity is to provide users with safer electrical circuits and electrical contractors and property owners the opportunity to test safety devices at a lower cost and manage their electrical and building systems more effectively.

iEP2's Clip-on Side Mount Module

A new paradigm in electrical safety, a Clip-On Module in that is housed either iEP2’s iFS technology or Self-Device Testing or IoT SaaS to integrate these in combination or individually and to clip the module onto RCBO competitive brands such as Hager, ABB, Legrand, Schneider, and Siemens to enhance those RCBOs safety and operational capability.

iEP2 has several key advantages compared to any likely competitor including:

First Mover Advantage

No direct competitors are addressing the market with either an integrated iFS/RCBO device or an IoT maintenance system, giving iEP2 a first mover advantage. 

The first mover advantage is particularly strong as the company’s route to market will be assisted by its manufacturer partner who will provide access to a 106+ national and international distribution and wholesaler network.

Market Knowledge

Knowledge of the market has been gained from interaction with the market, overseas discussions with the leading manufacturers and research.

IP & Patents

While developing its solutions, the company has overcome several technical barriers that have patent protection and awaits funding for new applications.

Seasoned Management

The iEP2 management team has proven experience in start-ups having successfully founded and exited companies, complemented by extensive private and public international company experience and networks.

The expertise embraces technology businesses involved in pioneering the design and manufacture of digital RCD and RCBO devices, wireless and electrical protection & safety technologies, electrics, instrumentation and controls, building control & energy management systems, manufacturing, telecommunications & VoIP, and photographic & imaging technologies.

Management considers an exit from the business either through an IPO or a trade sale to companies such as Schneider, ABB, Siemens and Hager who have a history of making investments and acquiring companies, within 3-5 years or at the earliest opportunity.