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Virridy
NSF Convergence Accelerator — Track: Future Water Systems

Phase 2, Year 1
Reverse Site Visit

Award: 24C0011  |  PI: Evan Thomas

Lead Organization: SweetSense Inc. (dba Virridy)

March 24, 2025

9
Countries
39
Publications
500+
Field Samples
5M+
People by 2030
The Challenge

Water Quality Impairment at Scale

4B
People

drink microbially contaminated water

60%
of GDP

threatened by water insecurity

10%
of Emissions

from water management

50%
US Rivers

fail Clean Water Act standards

Root cause: Diffuse watershed processes, not just point sources. Current approaches underutilized due to regulatory uncertainty, measurement challenges, and insufficient financing mechanisms.

Convergence Approach

Three-Part Integrated Framework

Not siloed disciplines — a convergence of engineering, ML, behavioral science, environmental chemistry, hydrology, economics, and public policy

📡

Real-Time Sensing

Lume platform: tryptophan-like fluorescence with ML for real-time E. coli estimation. Sub-ppb optical sensitivity. No calibration needed.

💰

Carbon-Finance Mechanisms

Gold Standard, Verra, and Regen Registry programs. First-ever watershed carbon credits. Sensor-verified outcomes link monitoring to monetization.

⚖

Policy Co-Design

Colorado SB24-037 directs state agency to collaborate on monitoring pilots. Research-to-regulation pathway creating compliance frameworks.

Convergence: Policy frameworks create demand for monitoring → Monitoring enables carbon verification → Carbon finance funds watershed restoration

Intellectual Merit

Three Core Research Innovations

Innovation 1

Policy-Technology Coupling

  • Legislation (SB24-037) directing CDPHE to collaborate on water quality trading pilots
  • First framework coupling sensor data to compliance pathways
  • Comparative national WQT analysis (95% complete)
  • Journal article on pilot archetypes in preparation
Innovation 2

Sensor-Driven Environmental Attribution

  • TLF sensing with gradient-boosted ML models
  • Sub-ppb optical sensitivity for E. coli estimation
  • 500+ coincident field samples across 8 installations
  • Submitted manuscript: Knopp et al. 2026
Innovation 3

Carbon Finance Methodology Innovation

  • First-ever verified watershed carbon credits (Yahara WINS, Regen Registry)
  • Novel application of VM0042 for irrigation efficiency
  • Global E. coli dataset: 10M+ observations
  • 29–49% diarrhea reduction validated across programs
The Lume Platform

Meet the Lume

Real-time, autonomous water quality sensing at 1/25th the cost of legacy instruments.

Three Optical Modes

  • TLF — 280/350 nm (E. coli proxy)
  • Chlorophyll-A — 470/680 nm (algae)
  • FDOM — 365/480 nm (organics)
  • Turbidity — integrated nephelometric
  • Temperature — integrated thermistor

SiPM Detector Advantage

  • Only TLF sensor using Silicon Photomultiplier (SiPM) — no competitor uses SiPM for water TLF
  • 12,000x better responsivity (4,000 A/W vs 0.34 A/W photodiode)
  • 100,000x+ internal gain (10⁵–10⁶ vs 1) — 80x lower output noise
  • Chip-scale, solid-state, near-PMT sensitivity at ~$130 vs ~$4K PMT

Key Specifications

  • 1-year battery life, no calibration required
  • $200/mo SaaS vs $5K–$30K competitor instruments
  • Sub-ppb optical sensitivity
  • Cellular telemetry, cloud dashboard
Lume sensor
Sensor Validation

Performance Results

500+ coincident E. coli field samples across 8 installations  |  Submitted: Knopp et al. 2026

75%+
Continuous Accuracy
>94%
Categorical (Site Cal.)
7%
MAPE Log-Transformed
>90%
Bal. Acc. (Seine)
Deployment Network

Active Pilot Locations

US, France, UK, Kenya, Rwanda — with USAF procurement

United States

  • Boulder Creek, CO
  • South Platte, CO
  • Denver, CO
  • Manchester Bay, MA
  • Fort Myers, FL
  • Melbourne, FL
  • NASA KSC, FL
  • San Diego, CA
  • Chicago, IL
  • Cleveland, OH
  • Philadelphia, PA
  • Charles River, MA
  • Key West, FL
  • Conway, SC

International

  • Seine/Marne, Paris, France
  • Thames River, UK
  • Kenya
  • Rwanda
Seine River deployment Field deployment
Carbon Portfolio

Global Programs

9 projects across 9 countries — sensor-verified safe water access generating carbon credits

Rwanda

Rwanda — Amazi Meza

600K students. Gold Standard registration. 7,665 credits issued (2024), 33,911 credits (2025).

Kenya

Kenya — LifeStraw

3M+ students served. Largest school-based water treatment program globally. 12,384 credits issued (2026).

Tanzania

Tanzania — Water Mission

Community water supply and treatment. 74,000–112,000 credits projected (2026–2030).

29–49%
Diarrhea Reduction
5.6x
Cost-Benefit Ratio
9
Countries
Carbon Portfolio

US & Turkey Programs

First-Ever

Wisconsin — Yahara WINS

  • First verified watershed carbon credits
  • Regen Registry — 139K hectares
  • 24,143 credits issued (2026)
  • 73K+ tonnes CO2e avoided

Colorado

  • SB24-037 pilot framework
  • CDPHE-approved pilots
  • Sensor-verified watershed monitoring
  • Compliance pathway development

Turkey — Netafim

  • VM0042 methodology
  • 1,000+ hectares, 3.5 tCO2e/ha
  • 20,000–200,000 credits projected (2027–2031)
  • Drip irrigation efficiency

~$18M in credit sales contracts executed to date

Policy & Regulatory

Accomplishments

Colorado SB24-037

  • Enacted into law — bipartisan support
  • CDPHE approved 3 pilots + 3-year timeline
  • One discharger advancing toward pilot implementation
  • First legislation coupling sensor monitoring to water quality trading

National Analysis

  • Comparative WQT analysis: 95% complete
  • Journal article on pilot archetypes
  • Framework for replication in other states

Stakeholder Engagement

  • Aspen National Water Strategy convening
  • Walton Resilience Accelerator participant
  • EPA engagement on compliance pathways
  • Multi-state utility outreach

Key milestone: First discharger advancing to operational pilot — demonstrating research-to-regulation translation

Broader Impacts

Societal Outcomes

🌍

Environmental

  • Contamination detection in real time
  • Watershed restoration
  • 73K+ tonnes CO2e avoided
❤

Public Health

  • 29–49% diarrhea reduction
  • 5M+ people by 2030
  • 3M+ students served
📊

Scientific

  • 39 peer-reviewed publications
  • 10M+ E. coli observations
  • 4 granted patents + 1 pending
⚖

Equity & Cost

  • Disadvantaged communities near impaired rivers
  • 180x more data: 720 readings/mo vs 4 grab samples
  • Grab sampling: ~$19 consumables + ~$55/hr labor per sample
  • Lume at $200/mo/site replaces costly manual sampling
  • Complements IDEXX: continuous screening + periodic lab confirmation
Convergence Accelerator Team

Key Personnel

Evan Thomas
Evan Thomas, PhD
CEO / PI
PhD Aerospace Engineering, MPH, MBA. CU Boulder faculty. Lead PI, convergence strategy.
Danny Wilson
Danny Wilson, PhD
CTO
PhD Mechanical Engineering, UC Berkeley. Sensor hardware, firmware, ML pipelines.
AJ
Alex Johnson
CSO
Duke University. Former VP, Freshwater Trust. Carbon programs, policy strategy.
LM
Laura MacDonald, PhD
Int'l Carbon Programs
PhD Johns Hopkins. International carbon credit program design and execution.
Matt Ross
Matt Ross, PhD
Data Scientist
PhD Ecology, Duke. CSU faculty. ML models, global E. coli dataset curation.
Denis Muthike
Denis Muthike, PhD
Geospatial Scientist
PhD CU Boulder. Geospatial analysis, remote sensing, deployment analytics.
Partnership Network

Multi-Sector Convergence

Sector Partners
Academic CU Boulder, Colorado State University
State Government CDPHE (Colorado Dept. of Public Health & Environment), EPA
Federal NSF, NASA, USAF
Technology In-Situ Inc., Urban Sky, Blues Wireless
Nonprofit Friends of the Yampa, Millennium Water Alliance
Utilities Municipal water districts and wastewater utilities
Carbon Buyers LDC, PetroChina, World Economic Forum, Mortenson Construction
International Netafim, British Geological Survey, City of Paris

Convergence in practice: Partners span academic research, government regulation, private technology, nonprofit implementation, and carbon market demand — all interconnected through the Virridy platform.

Risk Profile

Risks & Mitigation

Risk Status Mitigation / Response
Manufacturing delays Resolved Supply chain diversified. Current production meeting demand.
Sensor market evolution Adapting Pivoting to PFAS detection capability with MIT/Fluorityx partnership.
USDA RCPP not awarded Pivoted Redirected to Turkey (Netafim VM0042) and Mexico opportunities.
Partner data tracking In Progress Structured reporting processes implemented across all programs.
Pooled portfolio credit market Uncertain Testing demand with buyers. Diversifying credit types and registries.
Phase 2, Year 2

Acceleration Plan

Track 1

Scale Sensing

  • Expand deployment network
  • Scale data pipelines & ML models
  • USAF April lab visit
  • 100+ prospect pipeline
Track 2

Scale Carbon Finance

  • 10,000+ hectares under management
  • Tanzania credit purchase execution
  • Madagascar audit completion
  • Fund development
Track 3

Translate Policy

  • Pilots in motion (CO, national)
  • Compliance pathway documentation
  • State replication framework
  • Publish WQT comparative analysis
Sustainability & Scalability

Path to Self-Sustaining Impact

For-Profit Model (Virridy)

  • Dual revenue: Lume SaaS ($200/mo) + carbon credit programs
  • $18M in credit sales contracts executed
  • $8.5M in private equity raised
  • Revenue execution now coupled to sustainability

Market & Competitive Position

  • ~$5.7B global water quality sensor market → $9.1B by 2030 (8.1% CAGR)
  • Only direct TLF competitor: Proteus (~$561K revenue, $10–30K/unit, UK-based)
  • Lume replaced Proteus on H2NOW platform in Chicago
  • YSI/In-Situ measure fDOM (365nm) — not tryptophan 280nm, no E. coli capability
  • Market consolidation: In-Situ acquired by Veralto ($435M), Chelsea/Covelya by Kraken ($615M)
  • Virridy negotiating strategic partnership with Veralto (owner of In-Situ, Hach, OTT HydroMet)
  • IDEXX Colilert: $201M water segment, $8–30/test, 18–24 hr results — Lume complements as real-time screening

Three Reinforcing Mechanisms

1. Policy Frameworks

Create regulatory demand for monitoring

2. Monitoring Technology

Enables carbon verification at scale

3. Carbon Markets

Fund watershed restoration

2030 targets: 9 countries • 5M people • 3M credits

Budget Overview

Blended Capital Approach

🔧

Hardware & Deployment

Sensor manufacturing, field installations, supply chain, and operations across domestic and international sites.

💻

Data Platform & ML

Cloud infrastructure, ML model development, data pipelines, research computing, and publication support.

🌱

Carbon & Policy

Carbon program execution, registry fees, policy research, stakeholder engagement, and legislative support.

NSF Convergence Accelerator Award Funding
Private Equity Investment $8.5M
Credit Pre-Purchases + Grants $18M+ contracted

Revenue execution now directly coupled to project sustainability

virridy.com
Virridy

Measuring, Mitigating, and Financing
Watershed Solutions

NSF Convergence Accelerator — Track: Future Water Systems — Award 24C0011

9
Countries
39
Publications
5M+
People by 2030
3M
Credits by 2030
4
Patents Granted
Monitor  |  Earn  |  Protect

virridy.com  •  evan.thomas@virridy.com

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