Emissium

AI Quick Summary

For power companies it is a challenge to measure the quality of the supplied electricity, as it fluctuates with renewable energy and exchanges to other regions. Emissium’s goal is to connect energy companies, allowing them to make smart and sustainable decisions for their customers by harnessing the full potential of renewable energy. Emissium promotes a more sustainable living by enabling fair carbon offsetting and by significantly reducing the emissions of greenhouse gases through its AI engine. What problem would you like to solve? Who are your costumers and how will they profit from a solution?In context of the energy transition, electricity is becoming the main energy carrier, with an increasing share of renewable resources connected to the grid. As a result, the electrical grid architecture is steadily moving towards a distributed configuration, in which large-scale centralized power plants are being replaced by small-scale distributed energy resources.This makes it progressively difficult for power companies to coordinate, control and track electricity flows in the power grid. Power companies are unable measure the quality of the electricity they manage, a crucial task as societal expectations change towards green, sustainable electricity. Emissium offers a solution by connecting key players across the power grid, efficiently collecting and using real-time data to assess the real environmental impact associated with electricity down to districts. Emissium leverages the decentralized nature of blockchains to overcome current scalability, transparency and accuracy issues in tracing electricity generation from both renewable and fossil sources.Power companies can adopt Emissium to improve transparency with their own clients and access a reward scheme for green electricity production. In addition, our software will help them to effectively implement grid decarbonization projects such as improving synchronization between electricity generation and consumption or optimizing the deployment of clean storage. Corporate consumers and smart device vendors can make use of Emissium to enable clean energy use in buildings and industry, offset their real carbon emissions and invest in local green energy while meeting their climate targets.How does your project idea affect energy savings or CO2 emissions?According to the international energy agency, 40% of global emissions in 2020 were due to the power sector and electricity generation is expected to increase by 50% in the next 30 years. As a result, acting on the electricity sector will bring the most cost-efficient and fast benefit to the climate challenge. The environmental impact of the electricity varies significantly depending on when and where consumption occurs. This makes the carbon content of electricity a powerful information, which is essential to efficiently exploit renewable capacities and avoid unnecessary emissions. It is needed in projects for the decarbonization of the energy end-use (e.g. know how to store electricity) and for making informed environmental decisions in context of the energy transition.Our software's ability to track and forecast carbon emissions allows electricity consumers to assess their real carbon footprint, automate environmental decisions and have a true impact on the sustainability of their energy consumption. Furthermore, Emissium will offer carbon off-sets based on the real emissions of the consumers (scope 2). Our intelligent consumption and carbon offsetting services will avoid more than 300kt and 150kt of CO2 equivalent over the next two years, respectively. Such estimates are obtained by targeting specific energy retailers and corporate consumers that are part of our short-term SOM (80 million EUR).Finally, as a unique feature, Emissium will allocate carbon offsets to electricity producers depending on their green generation. As a result, decarbonisation projects will be run by trusted and local identities, therefore avoiding greenwashing and ensuring the effectiveness of the off-set. Such mechanism will spur competition among generators and accelerate their transition to renewable production while allowing consumers to invest into local green projects.Current status and activities, resources neededWe are currently working in close contact with our partner OIKEN, a large power company in Valais. The goal of the collaboration is to build a first Pilot and achieve a proof-of-concept. Since the end of 2021, Emissium is part of the Ark incubator and it has received an Ignition grant (November 2021) and an Innogrant (May 2022) for a total of 130kCHF of non-dilutive funding. We have also obtained additional cash prize to build our first UI mock-up (ongoing) with the support of expert designers. The Energy Lab financing would be used to cover the cost related to transforming our mock-up into a marketable frontend. Indeed this implementation work will be outsourced to achieve a viable product at the earliest. In parallel with technical development, we are carrying out interviews with potential customers to better understand their interests and needs. Having a clear market knowledge is of paramount importance to develop a spot-on interface of our client-service product, improve pricing ability and reduce risks. We have so far met 8 potential stakeholders in Switzerland (grid operators and policymakers) and we plan to meet 30/40 more by Q1 2023.Our goal is to obtain additional grant awards of ideally 200kCHF prior to incorporation, which we plan to achieve by Q2 2023. This would be used to pay salaries of team members: we aim at adding an energy business specialist (sales and customer outreach) by the end of 2022 and a developer within Q1 2023. Emissium is a pure tech company with lean cost structure. Our only real asset is human capital, therefore our financial effort is mainly dedicated on expanding our team.

Project Idea Metadata

Project Idea Name: Emissium
Date: 6/6/2022 5:07:26 PM
Administrators:

Project Idea Description

What problem would you like to solve? Who are your costumers and how will they profit from a solution?

In context of the energy transition, electricity is becoming the main energy carrier, with an increasing share of renewable resources connected to the grid. As a result, the electrical grid architecture is steadily moving towards a distributed configuration, in which large-scale centralized power plants are being replaced by small-scale distributed energy resources.

This makes it progressively difficult for power companies to coordinate, control and track electricity flows in the power grid. Power companies are unable measure the quality of the electricity they manage, a crucial task as societal expectations change towards green, sustainable electricity. Emissium offers a solution by connecting key players across the power grid, efficiently collecting and using real-time data to assess the real environmental impact associated with electricity down to districts. Emissium leverages the decentralized nature of blockchains to overcome current scalability, transparency and accuracy issues in tracing electricity generation from both renewable and fossil sources.

Power companies can adopt Emissium to improve transparency with their own clients and access a reward scheme for green electricity production. In addition, our software will help them to effectively implement grid decarbonization projects such as improving synchronization between electricity generation and consumption or optimizing the deployment of clean storage. Corporate consumers and smart device vendors can make use of Emissium to enable clean energy use in buildings and industry, offset their real carbon emissions and invest in local green energy while meeting their climate targets.

How does your project idea affect energy savings or CO2 emissions?

According to the international energy agency, 40% of global emissions in 2020 were due to the power sector and electricity generation is expected to increase by 50% in the next 30 years. As a result, acting on the electricity sector will bring the most cost-efficient and fast benefit to the climate challenge. The environmental impact of the electricity varies significantly depending on when and where consumption occurs. This makes the carbon content of electricity a powerful information, which is essential to efficiently exploit renewable capacities and avoid unnecessary emissions. It is needed in projects for the decarbonization of the energy end-use (e.g. know how to store electricity) and for making informed environmental decisions in context of the energy transition.

Our software's ability to track and forecast carbon emissions allows electricity consumers to assess their real carbon footprint, automate environmental decisions and have a true impact on the sustainability of their energy consumption. Furthermore, Emissium will offer carbon off-sets based on the real emissions of the consumers (scope 2). Our intelligent consumption and carbon offsetting services will avoid more than 300kt and 150kt of CO2 equivalent over the next two years, respectively. Such estimates are obtained by targeting specific energy retailers and corporate consumers that are part of our short-term SOM (80 million EUR).

Finally, as a unique feature, Emissium will allocate carbon offsets to electricity producers depending on their green generation. As a result, decarbonisation projects will be run by trusted and local identities, therefore avoiding greenwashing and ensuring the effectiveness of the off-set. Such mechanism will spur competition among generators and accelerate their transition to renewable production while allowing consumers to invest into local green projects.

Current status and activities, resources needed

We are currently working in close contact with our partner OIKEN, a large power company in Valais. The goal of the collaboration is to build a first Pilot and achieve a proof-of-concept. Since the end of 2021, Emissium is part of the Ark incubator and it has received an Ignition grant (November 2021) and an Innogrant (May 2022) for a total of 130kCHF of non-dilutive funding. We have also obtained additional cash prize to build our first UI mock-up (ongoing) with the support of expert designers. The Energy Lab financing would be used to cover the cost related to transforming our mock-up into a marketable frontend. Indeed this implementation work will be outsourced to achieve a viable product at the earliest. In parallel with technical development, we are carrying out interviews with potential customers to better understand their interests and needs. Having a clear market knowledge is of paramount importance to develop a spot-on interface of our client-service product, improve pricing ability and reduce risks. We have so far met 8 potential stakeholders in Switzerland (grid operators and policymakers) and we plan to meet 30/40 more by Q1 2023.

Our goal is to obtain additional grant awards of ideally 200kCHF prior to incorporation, which we plan to achieve by Q2 2023. This would be used to pay salaries of team members: we aim at adding an energy business specialist (sales and customer outreach) by the end of 2022 and a developer within Q1 2023. Emissium is a pure tech company with lean cost structure. Our only real asset is human capital, therefore our financial effort is mainly dedicated on expanding our team.