Periodic Reporting for period 1 - NETIK (Smart sensor metering using cloud storage and PLC communication for efficient energy management)
Reporting period: 2015-12-01 to 2016-03-31
NETIK is a system specialized in registering pulse/analogue signals and digital data from industrial machines, sub-sectors, and facilities using novel M2M (machine-to-machine) communication, enabling continuous and complete monitoring of the electrical grid off-site consumption. NETIK’s innovative and ground-breaking solution is composed of three main devices and a Cloud-allocated big data engine. Each one of the components is specifically designed to solve a task in the monitoring process, and provide Efinétika an advanced tool to offer smart energy services for industrial environments.
We have performed a Feasibility Study in which the viability of the project has been confirmed after reviewing all the relevant technical, commercial and financial aspects. It has also allowed us to define the work plan for the project. After its accomplishment, NETIK will be upgraded, tested and validated (both the technology and the business model for the international exploitation), and Efinétika will be ready to commercialize the service and execute the plan for the international expansion.
We have performed a Feasibility Study in which the viability of the project has been confirmed after reviewing all the relevant technical, commercial and financial aspects. It has also allowed us to define the work plan for the project. After its accomplishment, NETIK will be upgraded, tested and validated (both the technology and the business model for the international exploitation), and Efinétika will be ready to commercialize the service and execute the plan for the international expansion.
In addition to several assessments devoted to technical issues and market studies performed to demonstrate the technical and commercial viability of NETIK, the following tasks have been developed according to the plan proposed in the Phase 1 contract:
Task 1 Technical plan: This task contains the detailed planning for future updates to the software involved in NETIK, as well as the details required to achieve smooth operation. As sub-tasks: an initial commercial design will be created showing the potential final look of NETIK, and a detail on technical risks was also done.
Task 2 Commercial plan: (1) Efinétika will contact new electronic part manufactures outside regularly used networks, with the aim of surveying potential alliances with a partner for future phases. (2) A random survey will be done to selected industries in different sectors and zones. The purpose is checking the interest levels for energy management services in order to establish market direction priorities. (3) Finally, a Freedom to Operate analysis and IPR strategy study completes the task.
Task 3 Financial plan: Financial plan that will include NETIK’s cost breakdown, effect on revenues, ROI, and several other financial key indicators will be refined. The financial impact study is concluded with a forecast on production, sales, revenues, profits, and growth for the following 6 years after market introduction.
Task 4, Business plan 3+1: The master business plan paves the way for further development of NETIK and is the main objective of this task. The work involves gathering the information and results acquired from the other tasks and compounding it into a single exhaustive report. This will conclude with the final and only deliverable of phase-1.
Task 1 Technical plan: This task contains the detailed planning for future updates to the software involved in NETIK, as well as the details required to achieve smooth operation. As sub-tasks: an initial commercial design will be created showing the potential final look of NETIK, and a detail on technical risks was also done.
Task 2 Commercial plan: (1) Efinétika will contact new electronic part manufactures outside regularly used networks, with the aim of surveying potential alliances with a partner for future phases. (2) A random survey will be done to selected industries in different sectors and zones. The purpose is checking the interest levels for energy management services in order to establish market direction priorities. (3) Finally, a Freedom to Operate analysis and IPR strategy study completes the task.
Task 3 Financial plan: Financial plan that will include NETIK’s cost breakdown, effect on revenues, ROI, and several other financial key indicators will be refined. The financial impact study is concluded with a forecast on production, sales, revenues, profits, and growth for the following 6 years after market introduction.
Task 4, Business plan 3+1: The master business plan paves the way for further development of NETIK and is the main objective of this task. The work involves gathering the information and results acquired from the other tasks and compounding it into a single exhaustive report. This will conclude with the final and only deliverable of phase-1.
According to the Project scope and plan, the final result after its execution will be the final upgrade and completion of the technology behind NETIK, as well as the establishment and validation of a right business model that will allow for a successful commercialization of the service in the international markets.