WHAT IS THE SPECIFIC PROBLEM YOU ARE ADDRESSING?
DEEP builds an infrastructure for the upcoming energy market where a growing number of prosumers produce renewable energy privately. New technologies such as smart metering devices, battery storage systems, and electric vehicles are reaching the masses as they become more affordable. However, the existing infrastructure is due for an overhaul because of the way the legacy energy system is structured, it is not able to cope with these technologies. DEEP provides a software stack connecting all participants of the energy market to a single platform, offering them a degree of flexibility and opportunities that the current infrastructure does not allow.
WHAT IS YOUR OFFERING AND HOW DOES IT TRANSFORM/DISRUPT THE ENERGY SECTOR?
DEEP provides stakeholders of the energy market with an end-to-end software stack allowing them to participate in the upcoming energy market. DEEP automates processes of energy utility companies such as billing and energy trading. At the same time, it enables them to offer new services including demand-side management tools and easy tariff switching. This not only disrupts the current energy retailing business, but it also lays a foundation for a peer-to-peer (P2P) energy environment which is expected to become the future as soon as European regulation supports P2P energy trading and self-consumption.
WHAT IS THE UNDERLYING TECHNOLOGY THAT YOU ARE USING?
DEEP leverages smart contracts to automate processes and utilizes blockchain technology to establish the foundation for a trustless P2P energy future. We are building a software stack that is comprised of several technologies ranging from an IoT Layer to a user-friendly front-end providing an end-to-end solution to the different stakeholders of the energy market.
WHAT ARE THE PARTNERSHIPS THAT YOU ARE SEEKING?
We are looking to partner with energy utilities to implement and further develop our smart contract-based software which is about to go into production at a large energy retailer in Europe. At the same time, we are looking to connect existing microgrid projects to our decentralized energy exchange platform, allowing prosumers to truly harness the benefits of a P2P energy system.