Faradai Net Zero Intelligence
1. Applicant Information
Sahin
Caglayan
CEO
Faradai
18 Alphabeta Building, Finsbury Square, London, United Kingdom, EC2A 1AH
United Kingdom
Teammates
Burak Sefer - Co Founder and COO
Necati Utku Simitli - Co Founder and Head of Product
Edward Hubbard - Global Sales Director
2. Criteria - Applicants Responses
Which clean technology categories does your innovation cover?
Energy Efficiency, Other (please specify)
Sustainability Management
Please select the category you’re submitting your application for
New Product, New Solution
Please select the phase of your innovation:
Operation
3. Questionnaire - Applicants Responses
Proposal/ Submission Title
Faradai Net Zero Intelligence
Problem Statement
Many organisations are under increasing pressure to comply with legislation surrounding sustainability targets and disclosure of information.
Many organisations have made bold climate commitments yet almost all of them need to be doing more in order to achieve them, they need additional support. In order to achieve their Net Zero Targets they need to be able to use their data to make intelligent decisions to reduce energy and other emissions.
Energy prices across much of the globe are increasing rapidly, organisations are desperate for ways to mitigate against the impact of these costs and are searching for ways to spend less on energy.
Which do you think are the innovative factors of your idea?
In general, we differentiate ourselves from our competitors because we have a huge library of pre-defined adaptors so we can easily plug into to most hardware and software platforms to extract data. Our data analysis and algorithms are refined to deliver exceptions, energy efficiencies and we couple this excellent platform with dedicated customer success experts. We have superior cybersecurity credentials that have grown out of our early inception projects in the banking industry.
We automate the collection of scope 1 and 2 emissions by integrating with devices on-site, e.g BMS, SCADA, HVAC, smart meters etc. The granular data gathered from these devices are used to deliver energy efficiencies and to inform energy procurement decisions. Integrating with ERP systems allows for automated capture of some scope 3 emissions and our tool converts to C02 and helps you set the targets.
Which benefits would your idea bring to the industry?
IoT connectivity capabilities are also unique as we are hardware agnostic with 400+ plug-in software adaptors supporting all widely available devices and protocols form different vendors. In addition, we have system integration capabilities to connect with customers legacy systems (ERP, CRM, BMS, SCADA, etc.) to communicate for data retrieval and to automate data exchange.
Customizable, self-explanatory, easy-to-use UI and dashboards making it possible for each customer / partner staff to set-up customized dashboards for each type of users (Managers, Executives both on Energy and Carbon management side accordingly for their needs.
With our subject matter experts, and the AI/ML capabilities, we provide actionable insights, better more accurate forecasts, anomaly detection, segmentation, weather and occupancy normalizations, peer benchmarking, for continuous improvements.
To which challenges does your idea provide a solution to?
We aim to develop solutions to global problems and challenges, mainly global warming and increasing energy need and consumption.
Standardization and metrics: Defining consistent standards and metrics for measuring sustainability performance is an ongoing challenge. There are multiple frameworks, such as Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), and the United Nations Sustainable Development Goals (SDGs). Aligning data and metrics with these frameworks can be complex, as organizations need to navigate diverse reporting requirements and adapt them to their specific contexts.
Scalability and adaptability: Sustainability management tools should be scalable to accommodate organizational growth and changing needs. As companies expand, the volume and complexity of sustainability data increase. The tools must be able to handle larger datasets and address evolving sustainability priorities effectively.
4. Supporting attachments and links
