virridy.com
Virridy

Sensor Technology & Carbon Finance
for Global Water Security

Monitor  |  Earn  |  Protect
12
Countries
16+
Projects
39
Peer-Reviewed Studies
5M+
People by 2030
virridy.com
The Problem

The Global Water Crisis

Water scarcity
4B
People

drink microbially contaminated water

Global economy
60%
of Global GDP

is threatened by water insecurity

Emissions
10%
of Emissions

are associated with water management
The airline industry is only 2%

virridy.com
Our Solution

Global Water Security Solutions

Water sensor technology
💧

Lume Sensors

Three optical modes — TLF (E. coli), Chlorophyll-a (algae), FDOM (organics). 75%+ accuracy, >94% categorical. 1-year battery life.

Green energy carbon
🌱

Water for Carbon

Drinking water treatment, precision irrigation, and watershed restoration. Gold Standard, Verra & Regen certified. 29-49% diarrhea reduction.

Global network
🌍

Global Portfolio

10 active projects across 12 countries. IoT-verified impact — no self-reporting. 5.6x cost-benefit ratio across health, livelihood, and environment.

virridycarbon.com
Market Opportunity

Water Security Carbon Credits

400M
Rice Cultivation
340M
Reduced Grid Emissions
255M
Industrial Wastewater Upgrades
229M
Blue Carbon Restoration / Preservation
218M
Rural Low-Middle Income Drinking Water
102M
Latrine Value Chain Upgrades
79M
Watershed Nutrient Reduction
17M
Irrigation Upgrades / Energy Transition
3M
Domestic Wastewater Upgrades

Million Tonnes CO2/Year — Global Potential

1.6B+

carbon credits could be generated per year, equivalent to offsetting nearly half of the EU's entire annual emissions.

At an average price of US$10, could result in over US$160 Billion invested by carbon credit buyers in improving global water security over the next decade.

Virridy uses IoT sensors for objective verification — self-reported usage overstates reality by 36-40%. Certified by Gold Standard, Verra & Regen Registry.

virridycarbon.com/project-cycle
Carbon Finance

The Drinking Water Credit Model

Step 1
Clean Water
Deploy water treatment so communities that can’t afford to boil—or that burn firewood to do so—get safe drinking water.
Step 3
Fuel Saved
Actual and suppressed fuel demand is eliminated. Avoided emissions quantified and verified under Gold Standard and Verra.
Step 2
Monitor & Verify
IoT sensors objectively measure usage. Combined with surveys, audits, and water quality testing for rigorous digital MRV.
CO₂CREDIT
Step 4
Carbon Revenue
Avoided emissions generate certified carbon credits. Revenue sustains and expands the clean water service.
Revenue Reinvested in Water Services
virridycarbon.com/project-cycle
Carbon Finance

Credit Economics

$45K–$80K

Cost to first issuance

2–3 year timeline. $5–$10/tCO2e credit price. Sales margins 10–50%.

$17M+

Executed offtake contracts

PetroChina, Louis Dreyfus, WEF, Mortenson. Contracted through 2031.

78,000+

tCO2e issued to date

680K+ credits/year by 2030. 5.6x cost-benefit ratio. 29–49% diarrhea reduction.

Digital MRV

IoT-verified credits eliminate the 36–40% self-reporting bias found in traditional household surveys.

Lume Sensor

  • TLF-based E. coli detection
  • ML contamination risk classification
  • Gold Standard DMRV pilot approved

IoT Gateway Network

  • Satellite-connected monitoring
  • Repair time: 214 → 26 days
  • Functionality: 56% → 91%

ML Analytics Platform

  • Automated credit quantification
  • Transparent, auditable records
  • Reduces MRV costs across portfolio
Gold Standard Verra VCS (VM0042) Regen Registry UN CDM
virridycarbon.com
Portfolio

High Integrity Water Projects Across Africa

virridycarbon.com
Strategic Partnership

Global Irrigation & Watershed Restoration

70% of the world's freshwater is used for irrigation. Rice alone accounts for 40% of freshwater use and 10% of global methane emissions.

Virridy is the exclusive global developer and offtaker for Netafim, the largest irrigation technology company in the world.

  • Precision irrigation increases yields by 30-100%
  • Reduces irrigation water use by 30-70%
  • Reduces fertilizer, avoids methane, stores soil carbon
Turkey — Konya Basin

Precision Irrigation

Verra VM0042 certified. 1,000+ hectares subsurface drip. 3.5 tonnes CO2e/hectare reduced annually.

Wisconsin & Colorado

Watershed Carbon

Yahara WINS: First-ever verified watershed carbon credit. 139K hectares, 200K+ tonnes CO2e avoided. Regen Registry certified.

thelume.ai
Product

Meet the Lume

Continuous water quality monitoring — for the cost of a single grab sample.

Three interchangeable optical modes: TLF (280/350nm, E. coli), Cl-A (470/680nm, algae/HABs), FDOM (365/480nm, dissolved organics). Plus turbidity and temperature.

Sampling: 30s–24h intervals. Cellular + satellite connectivity. 1-year battery on hourly sampling. Solar or wall charging. No calibration or maintenance required.

Key Applications

  • Drinking water source protection
  • Recreational water & beach advisories
  • Wastewater discharge & CSO monitoring
  • Agricultural return flow monitoring
  • Reservoir and intake monitoring

$200/month — includes device, connectivity, cloud dashboard, API, and firmware updates.

thelume.ai
Technology

Hardware & Analytics

Sensor Capabilities

  • TLF: E. coli & microbial contamination (280/350 nm)
  • Cl-A: algal biomass & bloom detection (470/680 nm)
  • FDOM: dissolved organics & nutrient loading (365/480 nm)
  • Integrated turbidity, temperature, GPS
  • No regular calibration or cleaning required

Operations

  • Sampling: 30 sec to 24 hours (remote config)
  • Battery: up to 1 year; solar or wall charging
  • Cellular & satellite connectivity
  • Single integrated unit — no external power or telemetry
  • ML quantification with protected dashboard & API

Economics

  • $200/month vs. competitors at $5K–$30K
  • 700+ data points/month/site
  • Hand-removable cover for tool-free field maintenance
  • Captures transient contamination events that weekly sampling misses
Lume v1.2 exploded technical view with labeled components
thelume.ai/research
Intelligence

Analytical Features

Lume sensor deployed in mountain stream

Adaptive Contamination Detection

The Lume uses machine learning to learn normal conditions and trigger contamination alerts based on learned patterns rather than fixed thresholds.
US Patent 11,506,606 B2 — Bedell, Fankhauser, Sharpe, Wilson & Thomas

Machine learning code

Automated System-State Classification

Time-series data from water infrastructure sensors are analyzed to classify system states and support operational decisions without manual inspection or rule-based logic.
US Patent 11,507,861 B2 — Wilson, Coyle, Thomas & Croshere

Natural waterfall

Natural Waters Application

Gradient-boosted decision tree models achieving 75%+ accuracy across 0–1,000 CFU/100mL, >94% categorical accuracy with site calibration, and 7% MAPE (log-transformed).

thelume.ai
Deployment

Lume in the Field

Designed for continuous deployment in challenging environments. Anti-biofouling design with hand-twist removable cover enables tool-free field maintenance.

Lume deployed on bridge

In-Situ Monitoring

Ocean monitoring

Mobile Deployments

thelume.ai

Field Testing the Lume

Researchers deploying the Lume sensor in natural stream environments for real-time E. coli monitoring and validation studies.

thelume.ai
Virridy

Seine River, Paris

Virridy’s Lume sensors monitoring water quality for recreational swimming safety along the Seine River.

virridy.com

Rural Water Access, Kenya

Monitoring borehole water points in arid pastoral regions. IoT sensors verify functionality and usage for carbon credit verification.

virridy.com

Clean Water in Schools

LifeStraw water purifiers monitored by Virridy sensors in classrooms across Kenya — supporting access to safe drinking water and verified carbon credits.

thelume.ai/research
Performance

Drinking Water Classification

The Lume has been validated for drinking water monitoring across chlorinated and unchlorinated supplies. Binary classification at regulatory thresholds of 1 and 10 CFU/100 mL yields 91–92% overall accuracy with Cohen's kappa of 0.82–0.84.

Confusion matrices for binary classification of water quality using sensor predictions versus laboratory-observed E. coli concentrations at two regulatory thresholds.

thelume.ai/research
Performance

Chlorinated Supply Monitoring

The Lume detects chlorine residual presence in treated water supplies with 85% accuracy, distinguishing pre- and post-chlorinated samples.

Left: Predicted vs observed E. coli on log axes. Right: Binary classification of chlorine residual presence (accuracy 0.85, kappa 0.70).

thelume.ai/research
Performance

Natural Waters — Local Model

The Lume algorithm has been extensively validated against Colilert E. coli in freshwater systems. Over 75% of predictions fall within the analytical uncertainty bounds of the Colilert reference method, with 7% MAPE in log-transformed space.

Left: Boulder Creek test dataset. Right: Categorical classification into three management-relevant bins (<10, 10–100, >100 MPN/100 mL). Balanced accuracy 95%, Cohen's kappa 0.84.

thelume.ai/research
Performance

Natural Waters — Global Model

Temporally structured cross-validation across the global dataset. RMSE ranged from 0.55 (training) to 0.63 log units (test), with MAPE below 22% across both splits.

Left: Global dataset cross-validation. Right: Seine River, Paris — binary classification achieving 96.8% accuracy and 94% balanced accuracy using three TLF sensors.

virridy-nsf-rsv.pages.dev
Regulatory

Regulatory & Compliance Pathways

Three parallel tracks advancing the Lume from research instrument to accepted compliance and verification technology.

Colorado — CDPHE

  • SB24-037 enacted with bipartisan support — first-of-its-kind legislation directing CDPHE to evaluate green infrastructure for alternative compliance
  • Three regional watershed pilots approved; Longmont advancing to implementation
  • City of Boulder partnership for Alternative Test Procedure (ATP) approval — Lume deployed on Boulder Creek as paying customer
  • 6 TLF sensors at TMDL compliance sites with Colilert validation

EPA — ATP Approval

  • Alternative Test Procedure for continuous microbial water quality monitoring
  • Pathway: City of Boulder → CDPHE → EPA Region 8
  • 500+ coincident field validations, >94% categorical accuracy
  • Screening method designation would unlock the utility compliance market nationally
  • Strongest evidence base for TLF screening approval of any sensor platform globally

Gold Standard — DMRV

  • Digital monitoring, reporting, and verification for drinking water carbon credits
  • Pilot approved under Gold Standard DMRV Programme
  • Deploying in Rwanda (GS12239) and Kenya (DRIP) — June 2026
  • Replaces manual water sampling with continuous sensor verification
  • Direct pathway to reducing MRV costs across the carbon credit portfolio
thelume.ai
Development

Lume Development

⚙

Hardware Engineering

Internal and contracted expertise in IoT, signals, embedded systems, hardware design.

🧪

Analytical Science

Internal and contracted expertise in watershed AI/ML and front-end product development.

🏭

Manufacturing

Contract manufacturer established in China. 200 units produced, 60 sold as of March 2026.

🚚

Distribution

Internal through 2026; contracted thereafter.

📈

Sales & Applications

Extensive internal sales and research expertise.

🛡

Risk Management

Lume 1.1 traction will support positive margin on COGS in 2026 before further NRE investment.

thelume.ai
Market

Microbial Sensor Global Market

$5.57B

Global water quality sensor market in 2024, projected to reach $12.9B by 2033 (CAGR ~9%).

200K

Cl-A sensors sold in US in past 10 years. Annual market ~$100M. Microbial is the next frontier.

SensorDescriptionSetupEst. CostAccuracy
Virridy Lume Tryptophan sensor; ML model analysis Single, fully integrated IoT sensor $200/month/site 75%+ accuracy, >94% categorical
Proteus Sonde Multiparameter sonde Requires data logger, site-specific calibration $14K - $24K+ +/- 10 CFU/100mL
Chelsea UViLux Tryptophan, CDOM, BTEX, BOD Not specified ~$5,000 0.01 QSU sensitivity
YSI (Xylem) Chlorophyll only, no tryptophan Multiparameter sonde $4,985+ N/A for TLF
In Situ Inc. FDOM, CDOM, Cl-A, no tryptophan Multiparameter sonde + telemetry ~$10,000 N/A for TLF
virridycarbon.com
Business Model

Pricing Strategy

Competition sells for $5K - $30K one-time hardware cost. Virridy focuses on recurring revenue.

  • $557K Lume revenue YTD March 2026 (target exceeded); targeting $1M+ for full year
  • Target 50%+ margin on COGS
  • Convert from one-time sales to recurring subscriptions in 2026
  • Minimum 10+ units, 12-month contract
  • Includes: device lease, connectivity, cloud dashboard, API, fleet monitoring, firmware updates, onboarding support

Key Figures

$200
/month/unit
$1,200
COGS per unit

12-month minimum contract = 2x COGS

virridy.com
Partnerships

Customers and Partners

Carbon & Water Partners

  • Exclusive global developer/offtaker for Netafim (Orbia)
  • LifeStraw, Helvetas, Water Mission, Asili, Amazi Water
  • Gold Standard, Verra, Regen Registry — certifications
  • PetroChina, Louis Dreyfus, Mortenson — credit purchases
  • USAID, Swiss SDC, Gates, Moore Foundation — funders

Lume Sensor Partners

  • NSF, NASA, EPA, U.S. Air Force — federal
  • Walton Family Foundation, NSF ASCEND — funders
  • Paris, London, Chicago, Boston, Denver, Boulder, Banff
  • Denver Water, CRWA, BGS, Suez/Veolia
  • Blues — IoT connectivity

Lume Sensor Projects

Boulder Creek

6 TLF sensors, TMDL compliance. Paying customer.

Seine & Marne, Paris

Suez/City of Paris. 9 swim sites. Olympics legacy.

Chicago River

H2NOW platform. Displaced Proteus.

U.S. Air Force

AFRL evaluation. Lab visit April 2026.

Denver Water

Strontia Springs wildfire monitoring.

Charles River, Boston

CRWA partnership. E. coli monitoring.

NASA / Indian River

KSC algae treatment. Chl-a + TLF.

Denver & Fort Myers

City deployments. Urban watershed.

virridy.com
IP Portfolio

Patents and Papers

Patents

  • DMRV Fusion Networks (2023, pending) — Drinking Water, In-Stream, Wildfire, Water Quality Prediction & Attribution
  • Alarm Threshold Microbial Fluorimeter — US Patent 11,506,606 B2 (2022)
  • ML Water Service Delivery — US Patent 11,507,861 B2 (2022)
  • Microcomputer Sleep-Mode — US Patent 10,564,701 (2020)
  • Distributed Low-Power Monitoring — US Patent 9,077,783 B2 (2015)

Selected Publications

  • Knopp et al., Advancing continuous in-situ quantification of microbial contamination, 2026
  • Demaree et al., Sensor Informed Predictive Model for TOC and Nutrients, ES&T Water, 2026
  • Bedell et al., Continuous fluorescence sensor for fecal contamination, Water Research, 2022
  • Thomas et al., Drought resilience through groundwater pump management, STOTEN, 2021
  • 39 peer-reviewed publications including The Lancet Planetary Health, Nature, Science of the Total Environment, Communications Earth & Environment
virridycarbon.com
Traction

2026 Traction Updates

  • $8.5M equity investment, led by Accord Capital and Mortenson Construction
  • $5M NSF Convergence Accelerator Contract; partnerships with two NSF Engines
  • $1M NASA funded Congressional Earmark
  • $2M advance purchase of 50,000 credits at $40 to Mortenson Construction
  • Reaching 5M people with clean water and generating 3M carbon credits by 2030
  • 78,000+ verified tCO2e credit issuances to date across Rwanda, Kenya, and Wisconsin
  • $17M+ in executed credit sales contracts through 2031
  • Registered/listed projects in Turkey, Kenya, DR Congo, Tanzania
  • Invited to join Walton Family Foundation Program Related Investment Cohort
  • International Water Association Career Research Award
  • Major Lume partners: NSF, NASA, EPA, USAF, Paris, London, Chicago, Boston, Denver, Banff
  • EPA ATP Approval in progress via City of Boulder / CDPHE / EPA Region 8
  • Gold Standard DMRV pilot approved; deploying in Rwanda and Kenya June 2026
  • $8.5M contract to purchase ~460,000 carbon credits — PetroChina Singapore
  • $6.5M contract to purchase ~500,000 carbon credits — Louis Dreyfus Company
  • $20M project finance debt facility under development (Total Impact Capital, $12M verbal commitments)
  • $557K Lume revenue 2026 YTD; 200 units produced, 60 sold
  • $20M verbal acquisition offer received from Geospace Technologies (Houston)
  • USAF lab visit confirmed April 2026; field validation and procurement targeted
virridy.com
Roadmap

2026 Priorities and Milestones

Africa Portfolio

  • Finance raise for project investment
  • Execute with partners to meet contract volumes
  • Drinking water program development and issuance

Netafim Program

  • Turkey audit
  • USA, India, Mexico exploration
  • Irrigation program development and issuance

Lume

  • $557K revenue YTD; targeting $1M+ in 2026
  • Veralto strategic partnership (Hach / OTT HydroMet)
  • USAF field validation and procurement
  • Site-generalizable E. coli models from multi-site dataset

Regulatory & Compliance

  • EPA ATP approval via Boulder / CDPHE / EPA Region 8
  • Gold Standard DMRV pilot — Rwanda and Kenya
  • CORSIA eligibility for carbon credits
virridy.com
Financing

SPV Capital Stack Overview

Total structured capital of $50M targeted for the Water Carbon Credit Facility to support project finance, scaling, and long-term operations.

Senior Debt Tranche 2
6% — 2029
$30M
Senior Debt Tranche 1
6% — 2026
$20M
Common Equity
Developer Equity
$5M
(Optional) Grants
Catalytic Buffer
TBD
virridy.com
Financial Outlook

EOY Cash Position

$3.0M
2025
$7.4M
2026
$11.8M
2027
$8.1M
2028
$10.0M
2029
$10.9M
2030

Projected EOY cash position 2025–2030

virridy.com
Leadership

Our Team

Evan Thomas
Evan Thomas
Chief Executive Officer
Professor of Environmental Engineering & Aerospace Engineering, CU Boulder. PhD Aerospace, MPH, MBA. Director, Mortenson Center. Former NASA-JSC. Originated first-ever carbon-water programs. $70M+ capital raised.
Alex Johnson
Alex Johnson
Chief Strategy Officer
Nearly two decades in energy/water commodity markets. Former VP, The Freshwater Trust. Sold $40M+ of WQT credits.
Laura MacDonald
Laura MacDonald
Int'l Carbon Programs Director
PhD, Geography & Environmental Eng (Johns Hopkins). Managing Director, Mortenson Center. 10+ years researching water quality interventions in LMICs.
Danny Wilson
Danny Wilson
Chief Technology Officer
PhD, Mechanical Eng (UC Berkeley). Fulbright & NSF Fellow. Former Boeing/Airbus. Sensor design and data analysis.
Denis Muthike
Denis Muthike
Chief Geospatial Scientist
PhD, Environmental Studies. Climate data scientist, expert in Africa climate programs.
Matt Ross
Matt Ross
Chief Data Scientist
PhD, Ecology (Duke). Assoc. Professor, Colorado State. Founder & CEO, OpenCurrent LLC. Faculty Director, Geospatial Centroid. Leads ML analytics.

Board of Directors

Mark Mortenson (Lansing Group)  •  Kevin Webb (30+ yr investor)  •  Chris Lackner (Accord Capital)  •  Ron Garan (decorated fighter/test pilot, 178 days in space)

virridy.com
Virridy

Sensor Technology & Carbon Finance
for Global Water Security

Monitor  |  Earn  |  Protect
12
Countries
16+
Projects
39
Peer-Reviewed Studies
5M+
People by 2030
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