Inspiration - Almost 200 billion m3 of freshwater are used by agriculture and industry every year in Europe when they should be destined to human consumption. This was a reality hard to change until now. Earlier in 2020, the EU passed a water-recycling law that opens an opportunity for 40 billion m3 of municipal wastewater to be reused by farmers and industry. Our challenge now is to create a reclaimed water offering that is competitive on both price point and accessibility a against fresh water.
What it does - Water Reuse Booster is the end-to-end solution aiming to help those needing water and keen to share resources to connect and jointly develop decentralized solutions to recycle and distribute reclaimed water. With only a few clicks, those interested in improving their water situation can search for partners, find a project to invest in or register their interest to be part of a future project. Data from each project posted in our marketplace in a safe and secure manner through integrated machine learning will be added to our clustering tool to improve its accuracy. On a later stage we will add AI enabled plant operation software for water reuse plants. With Water Reuse Booster we can bring water reuse utilization in Europe from just 2% today to up to 15-20% in 5 years.
How I built it - modeling tool will be a simplified draft at this stage (as additional investments will be needed to develop it), cloud marketplace and regulatory compliance tools are coded in blockchain, AI plant optimization software will be added at later stage via partnerships with some market players who already developed such solution. Investors will pay subscription to have access to marketplace, OEMs/EPCs will pay % from each successfully realized project cost, end-users will pay subscription for AI enabled software. Another application of innovation technology is the AI and ML to be built into the design tool which will capture all project data of developed projects and utilize it to improve accuracy of consequent designs.
Challenges I ran into - modeling tool cant be fully functional now as some additional databases needed to be acquired and technology / cost estimation tool developed.
Accomplishments that I'm proud of - significant amount of information was analyzed along with multiple market players interviews to identify critical needs and key success factors in wastewater reuse segment.
What I learned - recently, renewable energy sector has seen significant innovation in how projects are financed. Emerging investment platform like T-Rex and SolRiver Capital help to facilitate closer and more transparent collaboration between stakeholders and greater standardization of investment in this sector. With this they reduced the barriers for investors and encouraged more capital flow to the sector. We used these learnings to build our platform.
What's next for Water Reuse Booster Platform to facilitate reuse in EU - acquisition of databases (wastewater plants, farmers, industrial plants), hire consultants to develop design tool, partner with AI software company for plant operation tool. We will seek for investors to develop fully operational platform.