During the period of the project we performed the following work:
Implementation of a detailed market assessment for two main target countries, Greece and Philippines. The assessment focused on the study of the current situation regarding water, electricity and telecom, legislation and policy issues on RES and water, socio-economic issues, alternative offered solutions and their cost. A market assessment is also performed for the MENA region and African countries. Based on the study there is a high market potential of WETPaC in Greece, Philippines and MENA region. Africa is a promising market but risky to consider it in our initial targets.
An overview and a market analysis on off grid RES and water treatment technologies and their matching are performed. The combination of Photovoltaics with Reverse Osmosis desalination process, as has been selected for WETPaC, is the most efficient, reliable and economical attractive combination.
A detailed search was performed for similar products available in the market and for potential competitors. A list of commercial RES water treatment products and their technical data was selected and reviewed. Regarding the competitors, few companies have been building on the idea of utilizing renewables for water production but nothing similar to WETPaC has been commercialized.
A list of around 90 funding and humanitarian organizations/associations with details on their activities and contact data was implemented. Our aim is, after the development of WETPaC prototypes and relevant marketing material, to inform the organizations about the WETPaC product and to aware them for the importance of its services.
Development of a leaflet and of a website for the statement of the WETPaC idea within the SME Phase 1 Instrument Programme.
The technical design of three basic WETPaC models was performed. The design was based on our assessment regarding the water and electricity requirements in the target countries and to basic concerns, such as the need of low energy and low operation and maintenance requirements, remote control and monitoring, smart payment system, to provide financing and affordable solutions to low income populations. We searched the market for lower cost equipment that meets our technical specifications. We were able to achieve lower costs (almost 15%) than what we had initially expected. This equipment should be tried in a working demo.
Implementation of important contacts. We visited stakeholders (Government, Financial Institutions, Utilities, Associations, NGOs, etc.) in Greece and in Philippines and obtained an insight on possible barriers to WETPaC entry in the market. We identified market entry opportunities however, a demo is needed. Also, we visited potential customers in Greece Philippines and United Arab Emirates. The lack of a product sample was a significant disadvantage in our prospects and further collaborations.
Study of business models. We checked business models appropriate for our product. Also, a marketing strategy and priority marketing actions to sell WETPaC are performed. Our sales strategy was based on our customer knowledge, knowledge of WETPaC competitors and their offered services and on the basic features of WETPaC product which make it unique and a sustainable and profitable option for its prospective customers.
Implementation of an initial business plan for WETPaC product. A SWOT analysis was implemented to analyze the business situation for our new product. As concluded, the opportunities to have a profitable product are beyond the weaknesses and the barriers.
Implementation of a financial analysis. The analysis mainly includes an initial estimation of the expenses required to complete product development, built and test three prototypes, develop marketing material, etc. An estimation of the expenses to run the WETPaC activity for the first five years as well as a cumulative cash flow was also performed. Based on the financial analyses it seems that an investment in WETPaC development could pay back in five years.
