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We’ve partnered with data sharing ecosystem Ocean Protocol to create a new data marketplace for energy!

We’re delighted to announce a partnership with blockchain-based data ecosystem, Ocean Protocol, as we look to create a new energy marketplace using our energy trading platform and accompanying VLUX token.

Through the partnership, Ocean will facilitate the creation of our own data marketplace, empowering consumers to take control of their electrical data, where it goes and monetise it.

Our peer-to-peer energy trading platform is based on our AI-based smart hub (IoT device) that can obtain a comprehensive and real-time overview of the electricity consumption of a home. The high frequency at which the hub can sample home energy allows it to unlock vasts amounts of big data, not previously tapped into, that we want to give our customers the opportunity to sell should they so wish in order to get money off of their electricity bills.

This includes data around consumption, renewable tech, purchasing habits, suppliers and home appliances, some of which extends beyond just the energy industry.

Our goal is to create a data marketplace where consumers are empowered to have full control over their data and are given the opportunity to monetise it should they choose to share it. Ultimately, we’re aware that the data provided by our smart hub and energy trading platform is extremely valuable to third party manufacturers and strongly believe that consumers should have the opportunity to benefit from that in a way that’s fully GDPR compliant.

Ocean Protocol has recognised the exponential growth of the world’s data and the opportunity to unlock it with its blockchain-based ecosystem. With a particular focus on AI, this seemed like a natural partnership between the two companies. Ocean uses blockchain to allow data to be shared and sold in a safe, secure and transparent manner.

By integrating Verv with the Ocean ecosystem, we will not only have the opportunity to use their data trading system but also create a new-form marketplace focused on the consumer.

“Verv is developing AI technology that uses data to save energy and costs for homeowners, while supporting sustainability and smarter homes. We are excited to work with them to build a data marketplace that uses the data availability and service verification proofs of Ocean Protocol” said Bruce Pon, Founder of Ocean Protocol Foundation.

“We see further synergies to integrate their technology into our Singapore development sprints, so that a vibrant ecosystem of data providers and consumers can share data securely” he added.

As part of the collaboration, Bruce Pon of Ocean Protocol will also be joining the Advisory Board for Verv.

Speaking of the partnership, Verv CEO & Founder Peter Davies said: “Ocean’s aim is to unlock data, particularly for AI. At Verv, data is absolutely core to the quality of our service offering which is why we are so intrigued by their proposition.”

He added, “Ocean Protocol will facilitate a multitude of data marketplaces, one of which will be the Verv energy marketplace for electricity data. This will allow our consumers to have control over their own data, who they give it to and benefit financially from sharing it with third parties.”

The pre-sale for our Initial Token Offering is live now at www.vlux.io!


Blockchain specialist investors Scytale put their money on Verv

We’re pleased to announce that we have secured a £250,000 investment from Scytale Ventures, a team of investment management and blockchain experts. The investment will be used to advance the development of our blockchain-based peer-to-peer (P2P) energy trading platform and the accompanying VLUX (VLX) token.

We first engaged with Scytale Ventures during our crowdfunding round last year which saw us raise over a million pounds from over a thousand investors. Scytale Ventures’ focus on the next generation of blockchain technologies makes them the perfect investor to sit alongside our other shareholders which include Ignite, the social arm of energy giant Centrica.

Scytale Ventures, founded by Mark Cachia and Mattia Gagliardi, have previously invested in the likes of Ocean Protocol, The Energy Web Foundation and Polkadot. Scytale Ventures, who bring with them an amazing network of contacts, are excited by Verv’s innovation in peer-to-peer energy trading and the company’s mission to make renewable energy affordable for all.

Speaking of the investment, Mattia Gagliardi, Co-Founder at Scytale Ventures said, “We are delighted to see Peter Davies and his team use their incredible hub to form a P2P energy trading platform. It’s always exciting to see AI meshing with blockchain tech and it’s great to see Verv at the very forefront of energy innovation.”

Verv CEO & Founder Peter Davies added, “We are thrilled to be working with Scytale Ventures as we look to accelerate the growth of our energy trading platform and accompanying VLUX token. Given their expertise and network in the blockchain sector, it just seemed like a perfect fit.”

The announcement of this investment comes soon after we successfully executed the UK’s first ever peer-to-peer physical trade of energy on the blockchain at Hackney’s Banister House Estate in London — you can read more about this here.

To sign up for the pre-sale or whitelist of our Initial Token Offering, head over to vlux.io.

* Any decision to participate in our Token Sale should only be made
after reading the VLUX whitepaper and will be subject to terms and conditions.*


Earth Day 2018 and Verv’s vision for a cleaner, greener planet

Verv on Earth Day 2018
Photo by Richard Gatley on Unsplash

 

Today is Earth Day, and here at Verv the state of our planet is weighing heavily on our minds (yes even more than usual!). Here in London, over the last few days we’ve seen temperatures of over 20 degrees with beautiful sunshine warming us to our core. As wonderful as that is, it’s a bit unusual for London to be having this kind of weather at this time of year. This dramatic change in the weather is even more strange when you consider that we were having heavy snow showers just one month ago.

Is this the result of climate change? We don’t know, but one thing we do know is that we need to start looking at more ways in which we can help our planet, and what better day to start than on Earth Day.

Earth Overshoot Day
Earth Overshoot Day marks the date when our demand for ecological resources as a species surpasses what the planet can regenerate in that year. In 2017, the Global Overshoot Day was on August 5th, while the UK one fell on the 4th of May.

We contribute towards this deficit by producing waste, mainly CO2 emissions which pass into the atmosphere. Our current carbon footprint adds 2 to 3 parts per million of CO2 to the atmosphere per year. The overshoot is calculated by Global Footprint Network, a think tank that coordinates research, and develops methodological standards to help humanity operate within the earth’s ecological limits. In fact you could calculate your own personal Overshoot Day using the Overshoot calculator here.

Carbon Footprint
Ever increasing Carbon dioxide emissions are a huge problem for our planet right now (carbon footprint makes up 60% of humanity’s Ecological Footprint), not only for wildlife and ecosystems but for us too! Of course, if wildlife suffers we all suffer, however, some of us are suffering already. According to a report by The Lancet Commission on Pollution and health “Pollution is the largest environmental cause of disease and premature death in the world today.” It can be hard to get a picture of how your day to day life is affecting the environment, but we found this Carbon Footprint Calculator which could help you.

Getting Serious About Changing for the Better
Tools like the Overshoot Calculator and the Carbon Footprint Calculator are great as they give you a broad overview of how your daily living behaviour can impact our planet, but are they enough?

In 2003, the Household Waste Recycling Act was passed in the UK. This law required local authorities in England to provide every household with a separate collection of at least two types of recyclable materials by 2010. At the time, it meant a big shift and a change in attitudes about how we manage our household waste, which required a little more effort on the householders part and new infrastructure for local authorities. Today, separating paper, card, plastics and glass into different bins is now second nature and most of us don’t even think about it as it has become a natural part of our routine.

Creating long-term positive change
It’s no secret that here at Verv, we’re trying to help householders lower their energy bills and also their carbon footprint by using our Verv hub to show them insights about their appliances and usage behaviour to help them make positive changes to their daily lives. We know this is enough for the householder but is it enough for the planet as a whole?

As a company, we have operated in the energy space since 2009 and have witnessed first hand the technological advances that enable innovators to push the boundaries of technology and bring domestic renewable tech to the market. The planet is ready to power our homes using earths natural forces like the sun, wind and waves, but our 100 year old infrastructure is holding us back.

We want to help the energy industry as a whole make a positive change and enable consumers already utilising solar panels and battery storage in their home to become prosumers for the first time. That’s why we’ve developed a peer-to-peer energy trading system using blockchain technology that enables users generating excess power to sell it on to a neighbour. This technology is no longer just a pipe dream as we have already successfully executed the first trade.

Our new infrastructure may be in its infancy but its developments are rapid and trials are underway that will help inform the country’s legislation so we can work together to enable greener living across the UK and then globally. Fifteen years after household recycling was introduced we all see it as the norm in the UK. Here at Verv, we not only want to promote a sharing economy but also to contribute towards helping to heal the planet that we all call home, so that in fifteen years time, we see a cleaner, greener planet and can say goodbye to Earth Overshoot Day and focus on just celebrating Earth.

Happy Earth Day!


We’ve just executed the UK’s first energy trade on the blockchain as we look to power a London social housing community with sunshine!

Our Ofgem-shortlisted Sandbox trial is underway in Hackney as we aim to empower residents

Hackney, peer to peer, energy trading, first trade, solar panels
Team Verv at Banister House Estate in Hackney where the first trade took place.

 

We’re really excited to announce that we’ve just executed the UK’s first physical trade of energy on the blockchain at Hackney’s Banister House Estate, using our renewable energy trading platform. The aim of the trial, currently underway in collaboration with Repowering London, is to enable residents to benefit from local renewable energy sources and bring down their energy bills, with a view to working towards creating a fully empowered, almost self-sustaining community.

The trial, which has been shortlisted for the Ofgem Regulatory Sandbox and has received a significant grant from Innovate UK, is currently in phase 1, with the first trade having taken place in the community on the afternoon of Wednesday 11th April through our Verv energy trading platform.

The trade (check out the link to it on Etherscan!) took place on the pioneering Hackney Banister House Estate which has solar panels installed on 13 of the blocks of flats that make up the community. With the addition of artificial intelligence-based Verv smart hubs in participating residents’ flats, and Powervault batteries in communal areas, the platform is able to calculate the energy demand profile of homes, determine the solar energy supply in each storage battery and in turn allocate green power to residents based on their needs.

The first trade saw 1kWh of energy being sent from an array of solar panels with excess energy on one of the block’s roofs, to a resident residing in another block within the estate.

Speaking of the trial, Roger who is a Banister House community member said, “Until now, we have been unable to take advantage of the solar panels on the roofs to power our homes due to the structure of the UK electricity market.

He added, “With the installation of our Verv smart hubs, we are being empowered to generate, store and trade our own community energy and I’m really excited to see how this trial evolves! It’s safe to say energy costs are very high and it’s important, more now than ever, that solutions be sought.”

The reduction in energy bills is expected to be even more significant considering a lot of the residents are on pre-pay meters which are still one of the most expensive ways to pay for energy

Erwin, another community member and participant, also expressed his support for the trial, “I am delighted to be involved in this exciting project. I hope it is the first step to ensuring that the whole estate can benefit from cheaper energy bills in future!”

Verv CEO & Founder Peter Davies explained, “We’re so pleased to be bringing the Verv renewable energy trading platform to life on Hackney’s Banister House Estate, we want to use this technology to empower the residents to innovate and create their own trading community. We plan to use the results of this trial to roll out more energy trading communities across the UK and in turn globally.”

Agamemnon Otero Co-CEO & Co-Founder of Repowering London added, “Over the past 7 years we have built community energy in the UK; from the first inner city community energy projects on social housing to driving policy. The Shangri-La of Community Energy is to enable smart, easy, access to energy for its members. We are proud not only to be working on this but that we can place this leading technology trial into the urban homes and hearts of those most in need of it.”

The first trade follows the launch of our VLUX (VLX) token which we’ve created in order to enable access to our blockchain-based trading system as we look to accelerate our growth and take our platform to the next functional level. The pre-sale for our VLUX Initial Token Offering is now open, don’t forget to check out the whitepaper on our website and join the Telegram group!


We’re launching VLUX tokens for our peer-to-peer energy trading platform – head over to vlux.io to find out more!

Important Notice: Any decision to participate in our Token Sale should only be made after reading the VLUX whitepaper and will be subject to terms and conditions. [Read more]

We’re pleased to announce that we’re now launching VLUX (VLX) tokens for our blockchain-based energy trading platform. Currently implementing the UK’s first blockchain-based peer-to-peer (P2P) energy trading community on London social housing using our platform, we’re creating VLUX tokens in order to enable access to the system and take it to the next functional level.

The integrated P2P energy trading system that we’ve developed combines deep learning artificial intelligence technology with blockchain. Our goal is to allow consumers who have renewable energy assets (ie rooftop solar) and battery storage to sell surplus power directly to neighbours on the platform via the newly launched tokens. Critically, the aim is to improve access to low carbon electricity for those who cannot currently afford renewable technologies.

“We’re adding another layer of intelligence to energy trading using AI and Machine Learning technology. With a focus on reducing the electricity bills of lower income households in particular, our aim is to facilitate an energy system where cheaper, greener energy is readily available,” said Peter Davies, Founder and CEO of Verv.

Our energy trading platform is facilitated by our Verv smart hub which obtains a comprehensive and real time overview of electricity consumption of a home. The Verv hub is then designed to use machine learning to create a user profile for each home based on its historical consumption behaviour.

The Verv hub is also being built to have AI applied to satellite generated cloud cover and opacity data, so as to forecast how much solar energy will be generated at points throughout the day.

A combination of all of this data will allow the hub to anticipate the supply and demand of energy, thus aiming to ensure energy is traded at the cheapest times.

Now launching a private pre-sale for the VLUX Initial Token Offering (ITO), we’re looking to accelerate growth of the Verv platform as we work on two government backed P2P energy trading projects with the aim of empowering residents to generate, store and trade their own energy. The long term goal is to create communities that are completely self sufficient on renewable energy.

One of these projects underway in Hackney, London, in collaboration with Repowering London, will produce results to help support UK’s Office of Gas and Electricity Markets’ (Ofgem) research into blockchain and make way for a potential further roll out of the energy trading platform across the UK and beyond.

“We’re on a mission to pioneer a movement towards a low carbon economy where affordable energy is the norm.The VLUX token is a link we need in order to provide consumers with a fully integrated, cross-border P2P energy trading solution,” said Davies,

The VLUX token (VLX) is an ERC20 token which leverages the Verv home hub’s high speed sampling of electricity as well as AI to interact with the blockchain platform we’ve developed and create an efficient and scalable peer-to-peer energy trading framework.

We’re looking to raise approximately £25 million (~U$35 million) in an Initial Token Offering (ITO) that will begin with a pre-sale on 20th March and follow with a main token distribution sale on May 18th 2018.

We plan to allocate funds raised in the ITO to research and development of our energy trading platform, continued development of the technology, customer education and anything we can do to reduce consumer energy bills.

For more information about the ITO, please head over to vlux.io and join our Telegram group for updates!

We can’t wait to share the full VLUX whitepaper with you very soon, for now check out a preview here.


Reflecting on International Women’s Day


Maria is the COO of Verv and was recently nominated for the Computer Weekly top 50 Most Influential Women in Tech. She has a background in Field Sales Engineering at National Instruments where she was responsible for a multi-million pound sales territory across a wide range of industries from Aerospace and Defence to Consumer Electronics. Maria holds an MEng degree in Electronic Systems Engineering from The University of Manchester.

Last week marked the all important International Women’s Day and I absolutely loved celebrating the extraordinary achievements of incredible women around the world. As someone who is part of many women in tech / engineering communities, I never cease to be impressed and inspired by the stories of women who share their journeys and encourage others to follow their dreams, no matter what setbacks they may face along the way.

I’m also really proud to be working in a tech business where we have brilliant, strong women spanning all teams; from machine learning, engineering and blockchain to front-end, sales and marketing. As a start-up, creating an environment that cultivates creativity and innovation is vital to success and gender diversity, and diversity of all forms for that matter, is crucial to making this happen. Fresh thinking is inspired by ideas that are fused together by those from different industries, backgrounds and cultures and it’s exciting to see ideas come alive in this way.

But whilst International Women’s Day is a day of celebration, it’s also an important opportunity to shine light on the fact that women only make up 24% of the UK STEM workforce (WISE). Whilst this is a significant improvement compared to previous years, it highlights just how much work remains to be done.

As an industry and a society, we tend to favour those who mirror ourselves, and so there’s a possibility that managers in the male dominated tech industry could be subconsciously favouring people who are like them. This point is reinforced in an eye-opening study by McKinsey and LeanIn.org which found that in the US, for example, 57 percent of college graduates are female, however fewer women are hired at EVERY level compared to men, even at entry level in an organisation. As women progress through their career, more and more drop off at every level until there is just one in five C-Suite leaders who is a woman!

To move forward, more needs to be done to address this issue of unconscious bias. The government, and even companies, need to start providing bias training to start raising awareness around the topic. We are witnessing a large dropout rate of women in technology, and if we want to attract and retain women in this industry, we need to start holding companies accountable for the results.

There are a number of organisations who have dedicated programmes in place to teach unconscious bias training. WISE, for example, provides a number of different routes into improving awareness and knowledge of the topic.

In the US, Google is funding research at Berkley and MIT to tackle unconscious biases amongst teachers and this is exactly what we need to encourage. A lot of research focuses on the student and those in the workplace, but fails to explore the impact teachers might have on children from a young age. With statistics showing that 49 percent of mixed schools in the UK had no girls studying physics at A-Level, it is clear that we need to be focusing on the source of the bias, eradicating the issue from its roots.

While women in STEM is a popular subject matter, we still have so much more to add to the conversation, and tackling unconscious bias is one small element. We need to be highlighting the incredible women we do have in technology, ensuring that women form key parts of industry events and start normalising the idea of women in leadership roles at these companies. By sharing their stories, we can slowly start to reprogram the bias that has emerged and displace the common misconception that technology and science are men only.


5 ways you can be more green

With soaring global temperatures, rising sea levels and the extinction of several species around the world, it’s becoming clearer everyday that we need to commit to a more sustainable way of living. But “sustainable” can have vast connotations and is often associated with large companies and their CSR policies. In reality, each individual can contribute to a more sustainable economy simply by being more mindful when going about their daily routines. Here’s a list of 5 ways you can be more green:

Switch appliances off when you’re not using them
The Energy Savings Trust estimates that an average household will spend up to £80 a year powering appliances that are left on standby. Switching appliances off when you’re not using them doesn’t just save you money but also reduces your carbon footprint. Verv comes armed with helpful alerts to prompt you to turn off appliances. We’ve started with the key culprit for being left on; GHD hair straighteners, with Verv continuing to expand its capabilities the more it learns about your home.

Use energy efficient appliances
A study conducted by the Global Action Plan, a UK behavioural change charity, found that if all UK consumers who purchased an A rated fridge-freezer in 2011 had instead bought an A+++ rated one, they’d have saved a total of £24 million. On top of that, this would have prevented 100,000 tonnes of carbon from being released into the atmosphere, which is equivalent to taking 33,000 cars off the road! This shows just how significant appliance efficiency is and that’s exactly why we’re incorporating an appliance analysis into Verv, allowing users to see where they need to upgrade to a more eco-friendly appliance in order to reduce both their bills and their impact on the environment.


Use green sources of energy

Rewind 10/15 years and this suggestion would’ve been a difficult one to implement. Recently, access to renewable energy has increased in multiple forms. There are now 10+ renewable energy suppliers in the UK like Ecotricity and Bulb that provide consumers with access to green energy.

In addition, renewable energy adoption is on the rise. According to a recent report by the International Renewable Energy Agency (Irena), solar photovoltaic (PV) electricity costs have dropped by 73 per cent since 2010, and within just two years, solar energy generation costs are expected to halve.

With reduced costs and the increased uptake of local renewable energy sources, like solar panels on roofs for example, there is huge potential to create communities that are fuelled by affordable, green power by rolling out an infrastructure that allows peers to trade energy between one another.

Here at Verv, we’re combining our machine learning, IoT functionality with blockchain in order to create a peer-to-peer energy trading solution that improves access to low carbon energy. To find out more about our latest government backed project in this space, click here.

Use green modes of transport where you can
According to the U.S. Environmental Protection Agency (EPA), traditional modes of transportation contribute to about 20% to 25% of the world’s CO2 emissions. This highlights the importance of looking at greener modes of transport. By making a small adjustment to your daily routine and going on foot or using a bicycle for even just a part of your commute, you’re contributing to a greener economy. And the good news is, development and adoption of other methods of transport like electric cars and trains is on the rise, with electric vehicle penetration expected to surpass 10 million cars by 2035 in Great Britain.

Recycle
Recycling is one method of sustainability that can make a real difference. The average UK household creates over a tonne of waste each year, which is about the weight of a small car. Interestingly, 1 recycled tin can could save enough energy to power a television for 3 hours! And 70% less energy is used to recycle paper than to create it from raw material, plus you save some trees which create oxygen and reduce CO2 levels in the atmosphere. Recycling is a quick win for those looking to become more green.


AI: Putting the ‘smart’ into smart homes

Back to the Future

As we reach the end of 2017, our CEO & Founder Peter Davies has written down some thoughts on the ‘smart’ home and the important addition of AI and Machine Learning for delivering a personalised solution, tapping into untapped data and delivering a future-proof roadmap…enjoy!

We all remember the scene in Back to the future where Marty’s girlfriend’s thumbprint is used to open the door to her house in 2015. With us now being 2 years ahead of what was then considered to be a futuristic world, it’s interesting to look at how technology has evolved and in particular what the smart home actually looks like now as we head into 2018.

In reality, the smart home revolution started over a decade ago with the advent of fast, reliable internet and a boom in software advancement. And the number of connected Internet of Things (IoT) devices being developed for the home has increased exponentially since then – from connected doorbells to, yes, even fingerprint activated locks.

But while there are some really cool and innovative technologies being developed for the smart home, products that make a real difference in the way people live and manage their homes are still relatively few and far between. Artificial intelligence and machine learning open up new opportunities to create truly smart homes that unlock big data, such as utility usage, and then deliver it to the consumer in a way that’s understandable and can create positive behavioural change. In addition, machine learning creates homes that can learn as they go, offering a more personalised solution.

Connecting the dots just won’t cut it

Gartner predicts that by 2020, there will be around 20.8 billion IoT enabled devices in the world. Out of this staggering total, 12.9 million of those connected devices are expected to be used by consumers, including within the home.

Currently, there are a number of benefits that connected devices can bring consumers and the wider community, from connected fridge cameras that can help to minimise food waste to connected doorbells with integrated cameras which provide increased levels of security.

However, while these devices provide more insight into the home than before, in reality they fail to address real consumer pain-points. Most of these ‘smart’ devices require even more steps than the traditional method. Take connected lights for example – homeowners are required to unlock their phone, find and open the right app, select the room they want and then press a series of combinations to turn the lights on or off. More often than not, this takes more time to do than simply standing up and turning the light on! These devices may create ‘connected homes’ but they certainly aren’t smart.

Artificial Intelligence is the ‘smart’ in smart home

What is needed to drive mass adoption of smart homes is integrated technology which addresses both time-saving and money-saving, with added support from machine learning to tailor experiences based on individual consumer behaviour. One of the biggest barriers to smart home adoption is the unnatural environment connected devices create. AI removes this barrier by adding an extra layer of intelligence to the home.

This extra layer of intelligence is what allows big data to be turned into tangible insights into how the home is being run, helping out the consumer and manufacturers (with permission to use said data) alike. Without these machine learning algorithms analysing the home data at great speeds, really valuable information is sitting there, untapped.

Take electricity consumption – one of the biggest frustrations is that you can never tell how much each appliance is costing you or which ones are draining energy. With AI-enabled smart devices, such as Verv, energy consumption can be analysed per appliance, and relayed back to homeowners in real-time via a mobile app. And as Verv learns your home, consumers can be alerted if appliances are deteriorating before they actually break down, whether they’ve left something on by accident and whether they should replace an appliance with a more eco-friendly one. For the first time, this hands real intelligence about energy usage and the health of their home back to the consumer. Not only can this help to bring down utility bills and improve existing home efficiency, it creates a truly smart home. One that delivers a personalised solution using information based on behavioural trends. Critically, AI-enabled smart devices learn over time, analysing behavioural trends and constantly improving its algorithm based on user choice and feedback.

Looking to the future, AI-enabled smart products like ours can also be combined with other technologies, such as blockchain, to drive even more innovation in the home. And that’s exactly what we’ve done in order to create a peer-to-peer energy trading solution which brings rise to the prosumer and ultimately will bring new meaning to smart cities, as well improve access to low carbon electricity which is at the core of our mission. And being able to deliver a solution like this to our existing smart home product via a simple software update is what makes it so game-changing.

AI is the missing link in today’s smart home puzzle and I look forward to seeing it infiltrate more and more aspects of the market in order to create a home that is truly personalised

By Peter Davies, CEO & Founder, Verv


Business Green Tech Awards: Verv is officially the technology of the year!

Business Green Technology awards

It’s been a brilliant week here at Verv HQ and to top it all off we’ve received a whopping 3 awards from the Business Green Tech Awards!

These were:

App of the year: For the way in which we tap into big data in the home and present it to the consumer in way that’s simple and easy to understand

Future City Technology of the year: For the peer-to-peer energy trading solution that we’ve developed for our smart home hub, Verv 2.0, in order to increase access to affordable low carbon energy and reduce energy costs. Check out our blog post to find out more about what we’re doing in this space.

Technology of the year: Our final award of the evening which recognised Verv’s game-changing technology.

These awards are a true testament to the whole team’s hard work and it was an honour to have been presented them by the incredible Robert Llewellyn from Fully Charged- what a night! Bring on 2018.


Bringing to life peer-to-peer energy trading in the UK

We’re pleased to announce the exciting launch of the UK’s first energy trading community on social housing at Hackney’s Banister House Solar. The field-trial, delivered in collaboration with Repowering London, will be the first time energy is physically traded in the UK through our blockchain-based peer-to-peer (P2P) energy trading solution – Verv 2.0, with a view to providing cheaper energy to its residents.

Our Verv 2.0 hub will be installed into 40 participating flats in the community to allow residents to share lower cost renewable energy between one another for free, as well as benefit from the other functionality of our hub which provides real-time cost updates per appliance and more.

This further supports the pioneering work of Banister House Solar, the UK’s largest community energy scheme on social housing. The project was launched in 2015 by residents of the Banister House Estate, local energy advocacy group Hackney Energy, and Repowering, a London based social enterprise set up to facilitate community owned energy.  With the support of Hackney Council, solar panels were installed on 17 of the blocks of flats that make up Banister House in order to generate clean energy for the community.

Unfortunately, due to the structure of the UK electricity market, residents have been unable to make use of clean renewable energy themselves, meaning the majority of the electricity is exported back  to the grid.

By adding Verv 2.0 to flats in the community, alongside individual and communal battery storage provided by partner Powervault, solar energy can be stored and then traded between flats, critically creating fossil free and cheaper energy for all residents.

This project will start early 2018 and run for 12 months at Hackney’s Banister House and we can’t wait to see how it plays out!

Using innovative technology and infrastructures to benefit areas such as social housing whilst driving forward a low carbon economy is at the heart of our mission. And the great thing about it is that this energy trading solution can be added to Verv as you know it via a simple software update, really pushing the boundaries for Verv’s future roadmap.