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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.

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

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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