Thiruvananthapuram: Seven engineers, all in their mid-20s, have developed a new device that they claim will save power losses from computers and gadgets running on electricity.

"The product, 'Spara', is ready and will be launched when our office at the Technopark's Technology Business Incubation opens Wednesday," said Nelvin Joseph, CEO of Artin Dynamics, the start-up firm floated by the seven engineer-entrepreneurs.

Addressing reporters here Tuesday night, Joseph said his company dealt with artificial intelligence and will develop products and services with this in mind.

Explaining the product concept, Sanjay Menon, chief marketing officer of the six-month-old company, said Spara is the first of its kind in the world, a device aimed at reducing power losses from computers and electrical appliances.

The product is an integrated module which can save energy up to 40,000 KWh per year for a company that has 1,000 computers. Its product software module uses the most efficient algorithms and its hardware modules increases efficiency of the system.

"The concept behind our product is a phenomenon called 'phantom power'; it is the power consumed by an electronic device when it is on standby mode or not in use. Studies have shown that this loss is responsible for nearly 26 percent of the total energy loss in the world," said Menon.

Artin Dynamics, with a staff strength of 16, was launched in April this year on an investment of Rs.1 million put up by the seven partners, and with the first product being ready, the company is shortly going to start two manufacturing units - in Coimbatore and Bangalore.

"The only product comparable to Spara is being made in Canada and is sold at $65 -- but its efficiency is less than 50 percent of our product. Spara is priced between $50 to $75. Right now, we have many inquiries and we consider the export market has a huge potential," said Joseph.