verv: advanced home electricity analytics

Objective

Founded in 2009, Green Running are a fast growth EU SME working with a range of key electricity sector partners (Centrica, UK Power Networks). Having already established a portfolio of commercial and industrial sector electricity analytics tools, in 2014 Green Running began development of a domestic solution -verv.

Verv applies patented machine learning algorithms to detect and profile all sources of electrical activity (generation, storage and consumption) active on a household's electrical system. Generating real time, itemised (iappliance level), usage data across metrics such as energy (kWh), cost (€), environmental impact (tCO2) and power quality (Hz) - verv generates valuable outputs for electricity retailers to customise/extend their services.

With continental Europe subject to many of the same drivers, and several of Green Running's target customers (electricity retailers) active in multiple EU markets, Green Running now seek a H2020 Phase 1 feasibility study to validate verv's pan-European commercial and technical potential. A 5 month project including market study, proposition refinement, partner engagement, IP strategy management, technology road map updating for multi-market operation and risk management will provide Green Running with the comprehensive knowledge, and partners it requires to first undertake a follow on multi-market field trial, and then launch verv in non-UK markets by 2020. Current projections suggest doing so can boost verv's customer acquisitions by 200%, generate annual revenues of >€6m by 2022 and an operating EBIT of €1.7m supporting creation of 38 new jobs, 23 of which will be high skilled positions at Green Running. >30,000tCO2 are also forecast to be avoided, making a valuable contribution to EU decarbonisation.

This Phase 1 study will accelerate and extend the growth of a high potential EU SME, allowing it to establish Europe's presence in the cutting edge innovation fields of artificial intelligence, and data analytics.

Fields of science

• natural sciences › computer and information sciences › data science › data analysis
• engineering and technology › electrical engineering, electronic engineering, information engineering › electrical engineering › electric energy
• natural sciences › computer and information sciences › artificial intelligence
• natural sciences › computer and information sciences › artificial intelligence › machine learning

Programme(s)

• H2020-EU.3.3. - SOCIETAL CHALLENGES - Secure, clean and efficient energy
• H2020-EU.2.1.1. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT)
• H2020-EU.2.3.1. - Mainstreaming SME support, especially through a dedicated instrument

Topic(s)

• SMEInst-09-2016-2017 - Stimulating the innovation potential of SMEs for a low carbon and efficient energy system

Call for proposal

H2020-SMEINST-1-2016-2017
See other projects for this call

Funding Scheme

SME-1 - SME instrument phase 1

Coordinator

GREEN RUNNING LIMITED

Address

Carpenter House Innovation Centre Broad Quay
BA1 1UD Bath
United Kingdom

Activity type

Private for-profit entities (excluding Higher or Secondary Education Establishments)

EU contribution

€ 50 000