Hark

Hark Systems Ltd. operates as an energy analytics and Industrial Internet of Things (IIoT) company, providing a technology platform to enhance efficiency, increase yield, and minimize waste for its clients. The company was established in Leeds, UK, in 2016 by Jordan Appleson, Andrew Hathaway, and Julian Kay. Appleson, the CEO, has a background in industrial software architecture and cloud technology, which spurred the initial idea to simplify manual tasks and improve visibility in industrial settings. The company's journey began with a focus on the life sciences sector, assisting pharmaceutical companies in monitoring sensor data, before expanding its reach.

The firm was acquired by SolarEdge Technologies, a global smart energy technology company, in a deal announced in January 2023 and completed in April 2023 for approximately $18.3 million. This acquisition was aimed at broadening SolarEdge's energy management offerings for its commercial and industrial customer base. Hark continues to operate as a subsidiary, leveraging SolarEdge's global infrastructure.

Hark's core offering is its flexible Software as a Service (SaaS) platform, which allows businesses to connect, monitor, analyze, and optimize their industrial assets and energy consumption. The platform is designed for a variety of users, from facilities operators to energy managers, and serves diverse industries including supermarkets, manufacturing, and facilities management. Its business model is centered on a subscription-based cloud platform. Revenue is generated by providing clients, such as major UK supermarket chains and manufacturing companies, with real-time data and insights to manage energy usage, comply with regulations, and perform preventative maintenance. The technology enables connectivity to a wide array of assets like building management systems, energy submeters, and solar PV infrastructure, unifying the data into a single, accessible location.

Keywords: energy analytics, Industrial IoT, IIoT, SaaS platform, asset optimization, energy management software, waste reduction, preventative maintenance, smart buildings, facility management, retail energy, manufacturing efficiency, real-time monitoring, data analysis, carbon footprint reduction, SolarEdge, Jordan Appleson, energy consumption, cloud platform, sensor data