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Creating a new energy marketplace

with the consumer at the centre

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VLUX Tokens: Unlocking cheaper electricity through P2P energy trading and data exchange

We’re on a mission to bring energy bills down to 0. By combining deep learning AI with blockchain, we want to improve access to affordable, green energy through the Verv trading platform and empower consumers to safely and securely monetize their household energy data in order to offset electricity costs.

Verv IoT: Smart Home, Smart Trading

The AI-based smart hub, Verv, which can obtain a comprehensive and real-time overview of the electricity consumption of a home, forms the basis of our platform. By combining this with blockchain technology, our aim is to provide a secure and transparent ledger through which energy can be traded on a p2p basis and electrical data can be exchanged in a new-form marketplace which empowers the consumer.

Crucially, the specialised AI used in our Verv smart hub provides us with the opportunity to add a unique layer of intelligence to the energy trading process. With an ability to predict the supply and demand of energy of a home, our intention is to ensure trading is done at optimal times, securing the best prices.


Reduced electricity costs

As electricity costs continue to rise, we want people with renewable energy sources to be able to sell excess power directly to their neighbours at an affordable cost. We intend to make this possible by using AI forecasts on consumption determined by the Verv hub to trade energy at optimised times.


Improved access to low carbon energy

The industry is seeing a significant increase in the uptake of microgeneration which can be attributed to more affordable pricing. Whilst the trading platform can incentivise consumers to invest in renewable technology, crucially, it provides those without the means to purchase the technology an opportunity to consume green energy at an affordable price directly from their peers.


Bringing rise to the energy prosumer

We believe the Energy industry should not be exempt from the prosumer-led economy. Empowering energy consumers to become prosumers by generating, storing and selling their own energy is very much at the core of our mission as we aim to make the current centralised framework more flexible.


Exchanging data for electricity

Having partnered with data sharing ecosystem, Ocean Protocol, our aim is to create a new-form marketplace whereby consumers can safely and securely monetize their electrical household data in the form of money off of their energy bills. Consumers will be empowered to sell their data to who they want, for as long as they want, should they choose to take part.


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Existing Blockchain Integration

The Verv team are spearheading a number of exciting projects in the p2p energy trading space with the support from multiple government grants and are helping to inform UK regulatory board Ofgem around p2p regulation using the results from its pioneering projects.


The launch of a p2p energy trading community on social housing in the UK

In February 2018 we began implementing the UK’s first blockchain-based p2p energy trading community on social housing at Hackney’s Banister House Solar. The field-trial, delivered in collaboration with Repowering London, saw the UK's first p2p physical trade of energy take place in April 2018. The aim is to provide cheaper energy to the community's residents and in turn inform further roll-out across the UK and in turn Europe with a focus on social housing.


Proof of concept: national simulation of our p2p solution

Having begun collecting data in early 2017, we began to simulate the Verv p2p solution across the UK in October 2017 using this data. Supported by Innovate UK’s Energy Entrepreneur’s fund, the Verv p2p framework and its AI-based predictions around energy consumption have been developed. These predictions are also being designed to take into account AI prognosis around cloud cover and opacity, using satellite data to anticipate when renewable energy like solar PV will be maximised.