IERC PROJECT APPROVED FOR €3.0M FUNDING UNDER IRISH GOVERNMENT’S DISRUPTIVE TECHNOLOGY INNOVATION FUND
The IERC led ‘CENTS’ Project will provide a mechanism for trading of electricity from renewable energy sources
We are delighted to announce that the IERC led Cooperative Energy Trading System (CENTS) project has been successfully approved for funding under the Irish Government’s Disruptive Technologies Innovation Fund (DTIF).
The DTIF announcement was made today (10 December 2018) by An Taoiseach Leo Varadkar TD, the Minister for Business, Enterprise and Innovation, Heather Humphreys TD and Minister of State for Trade, Employment, Business, EU Digital Single Market and Data Protection, Pat Breen TD, this morning and signals a proactive approach from the Irish Government supporting projects that are aiming to tackle the climate change issues we are currently facing.
CENTS is a collaborative project coordinated by the IERC and will rely on the industry experience from MPower, mSemicon and CRES, in addition to the research capabilities of UCC, NUIG, and DIT. It is a disruptive technology platform for the electricity sector where consumers and communities will be empowered with the necessary infrastructure to generate their own electricity, earn from the electricity generation, and finally, to be an integral part of decarbonizing their homes and communities for sustainable living. CENTS is the only project supported under the Energy, Climate Action and Sustainability priority area. It provides a software solution for a blockchain-enabled cooperative peer-to-peer energy trading platform and proposes necessary hardware requirements and market and regulatory strategies.
The CENTS blockchain enabled cooperative P2P energy trading platform addresses several of the National Strategic Outcomes (NSO) such as Transition to a low-carbon and climate resilient society (NSO 8), A Strong Economy Supported by Enterprise, Innovation and Skills (NSO 5), Compact Growth (NSO 1), Enhanced Regional Accessibility (NSO 2), and Strengthened Rural Economies and Communities (NSO 3) as targeted by Project Ireland 2040.
- DTIF [https://dbei.gov.ie/dtif] is a €500 million fund established under Project Ireland 2020 and is run by the Department of Business, Enterprise and Innovation with administrative support from Enterprise Ireland
- 27 projects are approved for funding with many led by start-ups and SMEs
- The successful projects will receive over €70 million to 2021
- The successful projects represent the health, food, ICT-energy and manufacturing sectors
About the CENTS Consortium
The CENTS Consortium includes the International Energy Research Centre, MPower, MSemicon, Templederry Renewable Energy Supply (CRES), UCC, NUIG, DIT
For more information please contact:
Senior Research Engineer, IERC
Dr. Piyush Verma
Senior Energy Market Analyst, IERC
Dr. Matt Kennedy
Head of Strategy and Business, IERC
087 265 0621