Water Reuse Booster to facilitate reuse in the EU
Valeria Burlakova, Montserrat Montaner, Sean Sing, Josiah Arkson
Water Reuse Booster - Decentralized Funding for Decentralized Water
Almost 200 billion m3 of freshwater are used by agriculture and industry every year in Europe when they could be destined to human consumption. This was a reality hard to change until now. Earlier in 2020, the EU passed a water-recycling law that opens an opportunity for 40 billion m3 of municipal wastewater to be reused by farmers and industry. Our challenge now is to create a reclaimed water offering that is competitive on both price point and accessibility against freshwater.
For the development of our solution we used learnings from the renewable energy sector which recently has seen significant innovation in how projects are financed. Emerging investment platforms like T-Rex and SolRiver Capital help facilitate closer and more transparent collaboration between stakeholders and a greater standardization of investment in this sector. With this they reduced the barriers for investors and encouraged more capital flow to the sector. We used these learnings to build our platform.
Water Reuse Booster platform is aiming to help those needing water and keen to share resources to connect and jointly develop decentralized solutions to recycle and distribute reclaimed water. With only a few clicks, those interested in improving their water situation can search for partners, find a project to invest in or register their interest to be part of a future project.
Water Reuse Booster generates awareness and facilitates communication amongst interested parties. It provides a solution that includes regulation compliance and water quality control. With Water Reuse Booster even small businesses can find the right resources and support to make water reuse affordable for them.
The Water Reuse Booster has integrated blockchain enabled marketplace running on the public Ethereum blockchain. This allows investors who are interested in a specific project to easily specify the amount they wish to invest via their Metamask Wallets. The smart contract secures these investments by holding the funds until the goal is achieved or releasing them back to investors should the project fail to gain enough support. Thus, Water Reuse Booster offers for investors a portfolio of attractive high social impact - low risk investment projects. This is because the projects on The Water Reuse Booster are based on a particular subsegment of water reuse applications, making them less complex, and, as a result, a lower risk investment.
Another application of innovation technology is the AI and ML built into the project design tool which will capture all project data of developed projects and utilize it to improve accuracy of consequent designs. On a later stage we will add AI enabled plant operation software for water reuse plants. Such AI enabled plant operation will help our customers save up to 30% of their operational cost.
With this, the Water Reuse Booster becomes an end-to-end solution for water recycling infrastructure funding which can bring water reuse utilization in Europe from just 2% today to up to 15-20% in 5 years. Investing in water is investing in the future. Let us give farmers and industry a chance, so everyone in Europe sees their life improved.
Steps to test prototype:
1. Install Truffle suite with ‘npm install truffle’.
2. In the command line, ‘truffle develop’. In the same terminal:
2a. ’compile’ command to compile the marketplace smart contract
2b. ’migrate’ command to migrate it to the local development blockchain
3. Install MetaMask extension on the web browser.
4. Visit the Water Reuse Booster webpage ‘https://water-reuse-booster.herokuapp.com/'
5. First walkthrough assumes you are in need of a water source and looking for funds/guidance to start a water project.
5a. Click ‘Start Now’.
5b. Click ‘I need water’
5c. Follow through Steps 1 to 5.
5d. Click ‘Submit for Approval’ to submit a project. Approve the MetaMask transaction that pops up to simulate posting a project to the Water Reuse Balance Marketplace.
6. Click ‘Home’ on the top left of the navigation bar.
7. The second walkthrough assumes you are an investor looking to fund a water project. Click ‘I Want to Invest’.
8. View the various mock projects and click ‘READ MORE…’.
9. Input the amount to invest of $ 50000 and click ‘Invest’. Approve the MetaMask transaction and you will see the funding progress of the project increase.