Innovate UK Phase 2

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This month, Farad.ai won almost half a million pounds in funding from the first phase of UKRI’s Modernising Energy Data Applications (MEDA) competition. The £1.9 million competition comes as part of the government’s push to accelerate sustainable economic growth and transform the United Kingdom into a global hub for innovation by 2035.

Competitors were asked to develop data applications that could dissolve some of the barriers faced by organisations building net-zero energy systems. The challenge utilised the fruits of UKRI’s 2019 Modernising Energising Data competition, in which Icebreaker One won the opportunities to create an open energy standard for data sharing and to build the technology for an open energy governance platform.

It constituted the first of two phases, the second of which will see the further development and testing of the prototypes developed by MEDA’s nine winning competitors.

Rob Saunders, challenge director for the Prospering from the Energy Revolution challenge, said, “The quality and range of concepts put forward in this initial competition not only shows what is possible by using some of the newest ideas in data and technology, but also highlights the variety of inefficiencies in the current energy landscape that can be improved as we move towards our net-zero ambitions in the UK.

Whether it’s industry, farming, investment or efficiency for people’s homes, there is a part to play for innovative technology that reduces usage for us all. We are now looking forward to helping these projects move to the next phase of bringing their solutions to life through testing and development of the ideas.”

Matt Hastings, Deputy Director of Ofgem’s Strategic Innovation Fund, was also optimistic, although he stressed the need for continued forward thinking. “This is just the beginning of a paradigm shift in the innovation landscape – a critical and urgent shift that can’t afford to just nudge the tanker a little bit. It must pick it up and flip it on its head.” He added, “We need to create a talent pipeline that is bursting at the seam with capability and opportunity.”

“We are humbled to have such amazing support from our government,” said Ali Safari, Farad.ai’s founder and CEO. “The UK is leading the world in energy transition and the energy industry is stepping into completely unknown territory. At Farad.ai we have united multidisciplinary and diverse talents from our amazing universities to develop an AI-powered digital twin which can guide the industry down this unknown path. No other organisation out there has managed to innovate and develop the technologies that we have developed.

Our government’s vision is for the UK to become the silicon valley of energy, which resonates strongly with ours. We are so excited to be doing our role in maintaining the UK’s leadership position in the energy transition.”

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