Periodic Reporting for period 1 - EOLI FPS (Roof top wind turbine for urban areas)
Reporting period: 2018-05-01 to 2018-08-31
Reaction UPTHEWORLD has designed and developed a small wind turbine, Eoli FPS, capable to work under low speed and turbulent wind profiles such as the existing in urban environments. It has already been successfully demonstrated in a building rooftop and is in a TRL6 development stage. This feasibility study collects the technical and commercial plan necessary to bring Eoli FPS to the market. The main objectives were to develop a technical work plan, to refine our commercial strategy and business plan, to confirm our freedom to operate and to study the financial viability.
Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far
In this feasibility we have developed a work plan that will allow us to achieve the technical adaptations, validation and certification activities necessary to bring Eoli FPS to TRL 9 in a period of 24 months. We have identified and contacted potential distributors for a successful commercialization, getting 4 new letters of interest. Moreover, we have defined our commercial strategy, business plan and stakeholders of our value chain. We have studied other patents published, confirming our freedom to operate and defined an IP protection strategy. We have performed a technical and commercial risk assessment and defined a contingency plan. Lastly, through the estimation of the investment needed and the performance of a 5-years financial forecast, we have confirmed the high profitability of this project.
Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)
The technical developments planned in this feasibility will reduce the cost of the transportation of Eoli FPS by 79% thanks to the size reduction, and 40% reduction in production cost. We have confirmed that Reaccion UPTHEWORLD has the potential to revolutionize the energy scheme in urban areas, unlocking the potential of wind energy in the cities. Eoli FPS has proved to be cleaner (reduction of 1.5 tons of CO2 emissions per year), healthier, cheaper (reducing by 57% the cost of electricity), than current electricity supply. Based on the results from this feasibility study, we estimate to have Eoli FPS out in the market in 2021, at selling prices for distributors and installers between €3.150 and €3.500 depending on the model. With these prices we estimate to achieve a twenty-fold increase of our sales between 2021 and 2025 resulting in cumulative profit of 9,88M€ and 4-fold increase of our number of employees.