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verv

verv: advanced home electricity analytics

Total Cost €

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EC-Contrib. €

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Partnership

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 verv project word cloud

Explore the words cloud of the verv project. It provides you a very rough idea of what is the project "verv" about.

seek    portfolio    domestic    extend    customer    ip    skilled    sources    engagement    gt    map    generate    launch    7m    jobs    validate    quality    retailers    storage    risk    customers    cutting    valuable    2014    road    follow    markets    services    edge    multiple    power    positions    learning    subject    market    industrial    outputs    first    supporting    pan    patented    sme    decarbonisation    household    boost    intelligence    uk    applies    began    centrica    running    algorithms    drivers    000tco2    consumption    iappliance    continental    generates    solution    generation    23    detect    energy    electrical    metrics    updating    artificial    profile    verv    200    green    tco2    2009    tools    environmental    data    creation    electricity    generating    projections    feasibility    fast    6m    analytics    ebit    contribution    trial    machine    strategy    revenues    suggest    accelerate    customise    founded    acquisitions    annual    hz    time    2020    proposition    38    refinement    networks    commercial    forecast    operation    innovation    2022    itemised    active   

Project "verv" data sheet

The following table provides information about the project.

Coordinator
GREEN RUNNING LIMITED 

Organization address
address: CARPENTER HOUSE INNOVATION CENTRE BROAD QUAY
city: BATH
postcode: BA1 1UD
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.

 Coordinator Country United Kingdom [UK]
 Project website https://www.greenrunning.com/
 Total cost 71˙429 €
 EC max contribution 50˙000 € (70%)
 Programme 1. H2020-EU.3.3. (SOCIETAL CHALLENGES - Secure, clean and efficient energy)
2. H2020-EU.2.1.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT))
3. H2020-EU.2.3.1. (Mainstreaming SME support, especially through a dedicated instrument)
 Code Call H2020-SMEINST-1-2016-2017
 Funding Scheme SME-1
 Starting year 2017
 Duration (year-month-day) from 2017-08-01   to  2017-12-31

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    GREEN RUNNING LIMITED UK (BATH) coordinator 50˙000.00

Map

Leaflet | Map data © OpenStreetMap contributors, CC-BY-SA, Imagery © Mapbox

 Project 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.

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The information about "VERV" are provided by the European Opendata Portal: CORDIS opendata.

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