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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.

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

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

 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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