“Nothing in the world is worth having or worth doing unless it means effort, pain, difficulty… I have never in my life envied a human being who led an easy life.” Theodore Roosevelt
As VECKTA’s co-founders, it is an honor to have set out on this journey together with our team to create a global company that will positively disrupt the energy industry. Building on two years of thinking, learning, planning, positioning, and support, we launched VECKTA on Nov 1, 2019. Now, on the first anniversary of the company launch, we could not be more proud of what our team has achieved. While it would be insensitive to ignore how hard this year has been for so many people due to Covid-19, the political environment, extreme weather events and more affecting our team, industry and the broader community, it’s not in our DNA to dwell on the inevitable stresses and setbacks that challenge us all. Instead, we’d like to share with you the excitement of what an incredible, positively challenging and foundational year this has been for us at VECKTA, and for the future of the energy industry.
We are well advanced now in building a fully integrated energy system marketplace to create a more distributed energy future and accelerate the energy transition. We are successfully empowering our partners to design, optimize, finance, build and operate their lower-carbon, lower-cost, and more resilient customized energy solutions. These real-world benefits are achieved through VECKTA’s streamlined workflows, industry leading engineering tools, and our worldwide network of partners, altogether providing greater transparency, improved accuracy, and reduced time to results. These Platform features in turn create more profitable and sustainable outcomes for our clients and the entire supply chain.
Our team has worked hard both to build the software that makes all of this possible, and to test, challenge and validate our assumptions, hypotheses, and commercial models. Through this rigorous process, we continue to confirm the disruptive potential and extraordinary value of the product we are building. VECKTA is revolutionary in its ability to accelerate how energy projects are assessed, designed, financed and deployed. The market is responding strongly to the time- and cost-saving benefits we’re now able to offer.
To date, we have created the software infrastructure to:
- Capture your project aspirations, background and critical data to optimize the right energy solution for your asset and business needs.
- Collaborate, designate work, and communicate with your team within the Platform.
- Assess, design and optimize a customized energy solution – through our integration with the world’s leading DES optimization software, XENDEE.
- Get insights into your project – optimal configuration and associated business metrics (such as capital and operational expenditure, return on investment, payback period, levelized cost of electricity, emission reductions, etc.). With concierge support from industry leading experts to refine and scenario plan to develop a bankable solution.
- Create an automated proposal for internal approvals or client signoff.
- Upload equipment specifications and prices into a private catalog such that complex systems can be designed with real time data on commercially available components.
Our next phase will be focused on:
- Releasing bankable projects to the marketplace for consideration by Platform Marketplace participants – constructors, vendors and capital providers.
- Each will have the ability to specify their desired areas of interest to ensure they are assessing projects that align with their niche.
- Facilitating the procurement and transactions necessary for the project to be developed, deployed and operated.
We have innovative ideas in our product development roadmap to last us many years, but we are confident that 2021 will see VECKTA develop to be the Marketplace that empowers industry to truly accelerate the energy transition with confidence.
How did we get here? A few highlights and fun facts:
- Proud employers of 16 amazing people in a full-time capacity and another 10+ on a contract and as-needed basis. All hired and working completely remotely.
- Initiated our intern program and hired 2 interns. Gauri graduated to a full-time position in-industry and Levan has extended his internship, while he finishes his university studies. We just reviewed another 300 applicants with a view to hire 2 more interns and continue to create opportunities for the next generation.
- We have leveraged online talent-screening technology, to hire the best people for the job in terms of capabilities and culture in a non-biased way.
- We have intentionally and with pride created a diverse team in terms of gender, origin, studies, vintage, life experiences and more.
- We are currently based in 4 countries and originate from many more.
- Our teams utilize 21 software products and contract companies for as-needed services.
- Engagements with 73 different client/partner organizations with an amazing core group of strategic clients with whom we are closely developing our product. Your feedback, insights and pilot projects are priceless.
- Successfully accepted into innovation incubators with Launch Alaska and Plug and Play, where we have learned lots, built our network and refined our product and approach.
- Written >70,000 lines of code.
- Created an amazing website, animated video and >30 blogs and media articles.
- Got together where possible with socially distanced/responsible team building events – paddle boarding, axe throwing, dinners, virtual happy/coffee hours….
- Supported the 7th person in the world to complete the Uberman endurance challenge (21 mile swim, 400 mile bike ride and 130 mile run) in epic style!!
Reflecting on the list above it is both esteem-boosting and humbling at the same time, and easy to see how entrepreneurs and teams that are willing to take the leap of faith are the fabric that truly brings together, drives forward and inspires our communities and industries. Huge respect to all such people and businesses!!
It has certainly not all gone to plan and in reality, we could not have asked for more demanding conditions in which to launch a new business, but we embrace the challenge, learn and grow as individuals and as a team every day. We practice being intentional, and endeavor to create an environment where everyone can bring their unique genius to the collective good. We are collectively building life-long relationships and supporting one another to nurture our mental and physical health for long term sustainable delivery and growth. When the going gets really tough, we remind ourselves that what we are building is highly complex and game changing, and it should not be easy! It is critical to take a breath, embrace the opportunity and enjoy the ride—as every member of our team has done each day with incredible style, passion and fortitude.
Thanks to our amazing team, board, advisors, clients, partners, competitors, supporters, detractors, family, friends…you know who you are and you have all contributed to us aspiring to live by our values every day: to Adapt Purposefully, Challenge Limits, and Empower Co-creation. Stress, flow states, joy and energy levels come and go but the passion and commitment to deliver on our vision is unrelenting. We as a team are committed to Empowering the Energy Transition for a more distributed, profitable and sustainable future, so we can all thrive.
Written By Gareth Evans & Tristan Jackson