SmartM Power: Startup Stories of Climate Change Tech Accelerator
SmartM Power is a technology provider that enables more electricity to be produced or recycled, within communities – all from renewable energy sources.
The technology is making communities healthier and wealthier, and at the same time accelerating the Energy Transition.
Dudley Stewart, Managing Director of the Dublin-based startup notes Smart M Power Co. creates a smart community grid that is based on Internet of Things and cloud technology and operated by MPOWER.
“MPOWER is developing one-of-a-kind automated smart energy controls and a private independent closed circuit communications networks which will operate independently of sometimes unreliable 3rd parties, especially during power outages, enabling buildings to operate in unexpected crises, at least at a minimum level. It will also enable prosumers to trade electricity between themselves at a local level instead of “spilling blindly” to the national grid and causing disturbance”.
The systems which MPOWER has developed, the core one being enerXchange™, provide energy Community Grids with the technology that enables logical disturbance neutrality and real-time energy prices (and usage cost data). This is achieved through the use of Smart Contracts combined with high-frequency measurement of usage, production, and distribution of the energy.
Dudley Stewart notes that none of MPOWER’s competitors offer a combination of disturbance neutrality (satisfying DSO requirements) and a trading system in the way that MPOWER can.
“This sets the context within which MPOWER can deliver and demonstrate a working solution ahead of competitors, within the framework of the publicly-funded (EU Lighthouse) Limerick CityxChange project. A further feature of this project is that MPOWER is working alongside the Irish DSO (ESBN), thus is intimately engaged in regular dialogue focused on technical acceptance of its technology directly by the DSO gatekeeper”.
“Our team follows the UN Agenda 2030 and tries to be alert to progress on that front. But here we needed help to get from blue-chip research and testing to full business planning, team development, commercialization and investment.
It is great the way that the team is able to move from their technical roles into the direct development of the start-up as a sustainable commercial and growing business with problems to solve across the Globe. We have found nothing that could compare with how we are being changed through the UNDP Climate Change Tech Accelerator (CCTA)”.
Kicked off in December 2020, Climate Change Technology Accelerator program, one of the leading accelerator programs devoted to climate change problem solutions, is working with selected startups to guide them through intensive training and mentorship. It is directed towards leading technology startups to become investment and market-ready.
UNDP ImpactAim Climate Change Tech Accelerator is funded and run by UNDP in Armenia ImpactAim Venture Accelerator with support of UNDP Country Investment Facility, UNDP Russia Trust Fund for Development, Asian Development Bank Armenia Ventures Facility, the Ministry of Environment of the Republic of Armenia and implemented jointly with Enterprise Incubator Foundation (EIF), ISTC – Innovative Solutions and Technologies Center Foundation and Engineering City, providing infrastructure, both technical and environmental, to help startups for piloting their projects.