Submission NameREDD Systems
University NameUniversity of New Hampshire
Submission DescriptionREDD Systems leverages novel sensor technology and a proprietary algorithm to optimize energy consumption by pre-cooling or pre-heating a cold storage warehouse (CSW) during periods of lower electricity prices, saving CSWs $5,000 monthly and 20 hours weekly on manual monitoring.
Our technology significantly reduces CSWs' electricity consumption during times of peak demand, which reduces the industrial sector's strain on the electric grid, lowers electricity prices in the long-run, and accelerates an industry-wide shift to more sustainable practices.
Revenue is obtained through the sale of our sensor technology and from subscriptions from our software platform. For a typical CSW, we will obtain roughly $2,000 in initial revenue through the sale of our hardware and $2,000-$5,000 in annual recurring revenue through our software subscription.
UN Sustainable Development Goalsaffordable and clean energy, industry, innovation, and infrastructure, sustainable cities and communities