In the near future it is feasible to say that all our appliances will have this chip which monitors the use and abuse of electricity in our homes and offices. In the bigger greener picture we can hope to reduce our consumption for a cleaner future.

These smart devices will be wireless and communicate with a home based network as well as 3g networks. The appliances will be monitored and any overuse could alert a message to your smartphone where you are able to switch it on and off, saving electricity and the planet at the same time.

The company intends to make money by licensing its wireless module and providing data services, such as energy monitoring, from its hosted software.

So far no electronics or third parties have signed up to incorporate these systems into their products as yet.