Periodic Reporting for period 1 - FERROHUB (FERROHUB)
Reporting period: 2015-05-01 to 2015-08-31
In the Electricity market renewable energy becomes vital in order to answer to an increasing market demand and an increasing number of power outages. Ferroamp’s innovation business project aims to significantly contribute to sustainability, resilience, reliability, security and survivability principles, for both key stakeholders – the end-users and distributors/installers. FerroHub will initially target only PV energy system market, however the technology could be applied to wind, hydro, cogeneration and gensets (diesel). Ferroamp intends to expand the technology to other markets after FerroHubs will be fully applied to PV energy market.
Ferroamp has obtained many positives feedbacks and endorsements from the Swedish minister of energy and such players like Skanska (project development and construction group) and Rexel (distributor) and received strong interests from customers and the end-users. The expected outcome of the project is to start the full commercialization of the Ferroamp’s technology at the end of the PH2 as a reliable innovation validated by the relevant clients, households and facilities operators.
Ferroamp has obtained many positives feedbacks and endorsements from the Swedish minister of energy and such players like Skanska (project development and construction group) and Rexel (distributor) and received strong interests from customers and the end-users. The expected outcome of the project is to start the full commercialization of the Ferroamp’s technology at the end of the PH2 as a reliable innovation validated by the relevant clients, households and facilities operators.
During the Feasibility Assessment Ferroamp has contacted close to 20 solar plant developers and installers. Most of the companies have shown deep interests into the electronic hub, FerroHub, and see a huge potential for the technology. However, some of the contacted PV installers are not currently focusing on the integrated energy distribution, transmission and storage system, and remain step back with the market trends. At the end, Ferroamp secured 3 installers for the PH2 project, Nordic Solar (Sweden), SunStrom (Germany) and Enviko (the UK).
Thanks to the Feasibility Study, Ferroamp has decided to set the final production line at their facilities, and only minor units, such as PCB, cables, sheet metal parts and etc. order from the existing partners. The strategy was chosen in order to ensure a cost efficient, high quality and full production control. The studies has shown that Ferroamp would be able to save up to 40% of their expenses, by having production line in-house.
During the PH1 project Ferroamp has defined a minimum viable product, established engineering and industrialisation plans, and as well prepared the IP strategy and 5 years financial projections.
Thanks to the Feasibility Study, Ferroamp has decided to set the final production line at their facilities, and only minor units, such as PCB, cables, sheet metal parts and etc. order from the existing partners. The strategy was chosen in order to ensure a cost efficient, high quality and full production control. The studies has shown that Ferroamp would be able to save up to 40% of their expenses, by having production line in-house.
During the PH1 project Ferroamp has defined a minimum viable product, established engineering and industrialisation plans, and as well prepared the IP strategy and 5 years financial projections.
The expected outcome of the project is to start the full commercialization of the Ferroamp’s technology at the end of the PH2 as a reliable innovation validated by the relevant clients, households and facilities operators. The FerroHub solution will affordably and simply allow every household to adopt their own clean electricity generation system and will open up the opportunity for a robust reliable wide smart grid, creating a more effective and advantageous green energy system. Ferroamp brings to the market low-cost and low-carbon electricity transmission, storage and distribution technology that will allow Europe to strengthen its position in the renewable energy market and to create smart cities and smart communities across Europe, thus increasing profitability and growth performance of SMEs. Ferroamp’s technology will strongly contribute to the challenges outlines in the legal base of Horizon 2020 Societal Challenge ‘Secure, Clean and Efficient Energy’, considering their high impact on the environment and climate change (support of low-cost and low-carbon electricity supply), as well as sustainable technology (energy-efficient products and services as well as ‘Smart Cities and Communities’) and the profitable business opportunity that can derive from new models related to the energy production and storage at the time and cost effective manner.