Now in early access

Clearing the battery asset class.

Every battery storage contract — a tolling agreement, a capacity warranty, a project loan — rests on the same unresolved question: who independently verifies what the asset did, and what it can still do? Today that answer is rebuilt deal by deal, from manufacturer data, operator reports, and consultants' one-time studies. EcoVerse is the neutral measurement and settlement standard those contracts reference instead: an independent record of each system's condition, operation, and remaining capability, maintained from intake through every year of service. Insurers attach coverage to it. Lenders size debt against it. Operators settle on it. One record, accepted by all sides — so storage can be underwritten as a class instead of negotiated as exceptions.

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A battery storage contract record: term sheet with price per kilowatt-hour, annual throughput, duty cycle, and operating limits on the left; the counterparties — insurer, lender, diagnostic partners, and methodology witness — on the right

Prototype screen · illustrative data

The setup
A trillion-dollar asset class without a referee.
Storage is the dominant lever in the energy transition, and capital is moving: tolling agreements are spreading across US power markets as buyers trade merchant uncertainty for contracted cash flows — and lenders size debt more generously against them. But look inside any of those contracts and you find the same scaffolding rebuilt from scratch: maximum cycles per day, annual throughput caps, charge and discharge limits, degradation assumptions, overuse penalties. Every term negotiated bespoke, because there is no accepted answer to the question underneath them all — who independently determines what the asset did, and whether the limits were respected? Today that's answered with manufacturer data, operator reports, and a consultant's study — once, at closing — then argued about for the fifteen years the debt is outstanding. Every mature asset class solved this the same way: contracts stopped re-defining the measurement and started citing a standard. The stakes are pace: capital moves fastest, at the lowest cost, into assets it can underwrite as a class — and the transition needs capital to move at multiples of its current rate.
Diagram of the four counterparties around one battery system — the operator running it, the host paying for the service, the lender sizing debt against it, and the insurer covering the capacity floor — each asking the same question: what did the asset do, and what can it still do?
EcoVerse is building that standard.
The three rails
Project it. Monitor it. Insure it.
The standard is three connected rails. Each answers a question every storage contract needs answered; together they produce the record all counterparties can accept.
01 · Project

Forecast the floor.

Before a system enters service, its degradation is projected with a national-laboratory battery-lifetime model under the contract's specific operating limits — depth of discharge, charge and discharge rates, temperature, cycles per year. The projection is a range, not a number. The capacity floor is struck at the lower bound of that range, at a confidence level the underwriter selects.

02 · Monitor

Measure against it.

In service, the asset is measured continuously against its operating limits and its floor. At each scheduled measurement epoch, capacity evidence from approved sources is compared against the contracted floor under agreed reference conditions, so every reading is comparable across seasons and duty. A reading that approaches or crosses the floor escalates to higher-confidence verification before anything is settled. EcoVerse holds no balance-sheet exposure to the risk — paid to measure, not by any party with an outcome interest. That neutrality is what makes the record acceptable to every side of the table.

03 · Insure

Attach coverage to the record.

The record gives an insurer something it can attach coverage to: the Capacity Floor Put, a parametric instrument that pays when the record's verified determination of capacity falls below the contracted floor. It covers capacity — not prices, not revenue, not dispatch. Once capacity has been determined under the agreed standard, the settlement amount is deterministic and reproducible: the carrier or its auditor can re-run it from the retained raw data and reach the same number. And it gives lenders a contractually protected floor to size debt against for the life of the loan.

Capacity floor vs. the record: capacity evidence tracking above the contracted floor across a ten-year term, recorded epoch by epoch, with the headroom between them shaded and a status chip reading Above Floor

Prototype screen · illustrative data

None of this replaces the tolling agreement, the warranty, or the loan. Those contracts simply stop re-defining measurement one deal at a time — and reference the standard instead.

The record is the product
EcoVerse doesn't sell the battery, make the credit decision, write the insurance, or control dispatch. We maintain the neutral record those contracts reference.
The standardized contract and the capacity-floor coverage described above are the first structures built on the record — not the boundary of it. A tolling agreement, a warranty, or a loan that already exists can reference the same record without adopting either. That is what makes the standard durable: it isn't tied to one commercial model.
What EcoVerse does
  • Forecasts the capacity floor from an independent evidence methodology and a national-laboratory degradation model.
  • Maintains the record: capacity evidence compared against the floor at every measurement epoch, for the life of the asset.
  • Computes settlement from the record by a fixed, published method any counterparty's auditor can re-run.
What EcoVerse doesn't do
  • Hold balance-sheet exposure to the risks it measures, or take a position on price.
  • Underwrite the coverage or make the credit decision — that's always the carrier's and the lender's.
  • Hold or direct funds. EcoVerse is a calculation agent: it computes, and nothing more.
The stack
Four layers of the standard.
Identity, grade, record, settlement. Each one stands alone; together they give every contract on the asset the same trusted foundation.
01 — Identity

One identifier per asset.

Every battery system gets a universal identifier — chemistry, capacity, form factor, geography, vintage, encoded in one string, assigned once. The thread that connects intake, operation, and every contract written on the asset across its chain of custody.

02 — Grade

An independent intake grade.

Before coverage or credit attaches, the system's initial capacity and performance state is determined independently, under an approved evidence methodology — manufacturer and battery-management-system data, commissioning test results, independent diagnostic testing, or combinations of these, at the evidence class the contract requires. Physical diagnostics are one path to a higher evidence class, not a prerequisite. Like a credit rating, for batteries: it informs the underwriting decision without making it.

03 — Record

A continuous, auditable record.

In service, operation is measured against the contracted operating limits, and capacity evidence is compared against the floor at each measurement epoch under agreed reference conditions. Not a report the operator writes or a model the manufacturer runs — an independent record all parties accept, maintained for the life of the asset.

04 — Settlement

A computation both sides can re-run.

When a contract needs an answer — a warranty claim, a covenant breach, a derate credit — the settlement is computed from the record by a fixed, published method. Any counterparty or its auditor can re-run it from the retained raw data and get the same number. That is what ends the argument.

Four layers in the open. The methodology is published to the counterparties who rely on it — that transparency is the product.

2027
Europe's battery passport mandate takes effect
70%+
Capacity still usable when a battery retires from its first life
4
Layers of the standard: identity, grade, record, settlement
1
Record serving every contract on the asset, first life and second
Who it's for
Your question. Your value. One set of rails.
Each participant in the battery asset class faces a different question. Select your role to see how the rails work for you.

Insurers & Underwriters

Write the Capacity Floor Put — parametric capacity coverage priced against an independent, published measurement standard.

The challenge
!Storage lacks the credit instrument that scaled solar: a put that assures the operator against unexpected capacity degradation for the life of the loan. Until a carrier writes it, every project gets financed bespoke — or not at all.
!Chemistry-and-cycle risk has no accepted actuarial baseline. Laboratory curves don't price real duty cycles, and every project's data arrives in a different format, from a party with an outcome interest.
!Even a well-priced policy needs a referee: who determines whether the operating limits were respected, and what capacity remains — in a way a claim can settle on without dispute?
Your value
+You write the instrument; EcoVerse provides the standard it references. Degradation is projected with a national-laboratory lifetime model; the floor is struck at the lower bound of the projected range, at the confidence level your underwriters select. Premium adequacy, capital allocation, risk appetite, and the final rate are yours.
+Claims settle on a computation from a neutral record — deterministic and reproducible, re-runnable by your auditors from the retained raw data. EcoVerse holds no balance-sheet exposure to the risk.
+The put is designed to be what warehouse lenders look for — that's the hypothesis the first co-originated cohort is built to test. Writing it puts your paper at the center of how storage gets financed.
01

Stress-test the methodology

Bring your actuaries to the model, the floor-setting logic, and the measurement standard. It's published to the counterparties who rely on it. No black box.

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02

Structure the put

Parametric coverage that pays when measured capacity falls below the contracted floor. It covers capacity — not prices, not revenue, not dispatch. Terms standardized for reuse; pricing is yours.

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03

Co-originate the first cohort

Together we bring the projects and the warehouse lender to the table. Your put is what converts the lender's conversation; the record is what keeps every party settled for the life of the loan.

Talk to us about the Capacity Floor Put

Lenders

Size debt against a contractually protected floor and a live record — not a consultant's study from closing.

The challenge
!A battery is a degrading asset: the capacity securing the loan in year one is not the capacity there in year ten. Today that decay is underwritten from a one-time engineering study and a set of assumptions nobody re-verifies.
!Every storage deal is diligenced from scratch — different data formats, different degradation models, different warranty terms. Bespoke diligence caps how many deals a team can close.
!When performance questions arise mid-loan, the answers come from operator reports and manufacturer models — parties with an outcome interest.
Your value
+The contracted capacity floor gives the loan a contractually protected minimum capacity for the full term — forecast at underwriting, and backstopped by the Capacity Floor Put, coverage a carrier writes that pays if measured capacity falls below the floor.
+The record replaces the closing study: capacity evidence assessed against the floor at each measurement epoch, settlement-grade verification on any potential breach, and covenant compliance monitored throughout — an evergreen view of the collateral for the life of the loan.
+Standardized measurement is what makes storage lending repeatable. Same floor logic, same record, same settlement method on every project — the prerequisite for moving from bespoke project funding toward pool-based lending, and, as pools season, toward securitization.
01

Underwrite the structure once

The floor-setting method, the record, and the settlement computation are the same on every project that references the standard. Diligence the standard, not each deal.

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02

Hold with an evergreen view

Capacity evidence tracked against the floor at every epoch, covenant compliance in the record, disputes settled by a computation your auditors can re-run. No annual scramble for operator reports.

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03

Scale from deals to pools

Uniform records make portfolios comparable — the precondition for pooled lending, and, as pools season, for institutional bids on seasoned pools. That effect is a hypothesis the roadmap is built to measure, not a promise this page makes.

Discuss lending against the floor

Asset Owners & Developers

Make your project bankable: a floor your lender can underwrite, coverage a carrier can price, and a record that keeps both satisfied for the term.

The challenge
!Your lender prices chemistry-and-cycle risk into every term sheet — higher reserves, lower advance rates, shorter tenors — because nobody can tell them what the asset will actually do over the loan.
!Warranty terms, degradation models, and operating limits get renegotiated with every counterparty: the manufacturer says one thing, the offtaker's consultant another, the insurer's engineer a third.
!After closing, you carry the reporting burden — and when performance is disputed, your own reports are treated as the interested party's numbers, because they are.
Your value
+One independent standard answers the lender, the carrier, and the offtaker at once: a floor forecast at underwriting, operating limits contracted once, and a neutral record all three accept.
+The Capacity Floor Put converts your degradation risk into priced coverage — protection against the one risk that used to sit entirely on your balance sheet. That's what moves a term sheet.
+Monitoring runs in the background; the record does your reporting. Deviations are flagged against the contracted limits before they become covenant problems.
01

Grade the system at intake

An independent determination of entry capacity and performance state, before coverage or credit attaches. First-life or second-life.

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02

Contract the envelope and the floor

Operating limits and the capacity floor are set once, in standard terms every counterparty recognizes — then referenced by your loan, your coverage, and your operating agreements.

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03

Operate against the record

Capacity evidence tracked at every epoch, continuous envelope compliance, settlement by a method nobody can argue with. Refinancing and resale inherit the record instead of restarting diligence.

Talk to us about making a project bankable

Manufacturers with Battery Inventory

Your product's performance, attested by a referee that isn't you.

The challenge
!Your warranty is your own data defending your own product — every dispute starts with the customer doubting the referee.
!First-life inventory from paused programs struggles to reach storage projects: without an accepted independent grade, buyers' lenders treat it as unratable.
!End-of-life obligations and traceability mandates — Europe's battery passport among them — demand a chain of custody your systems weren't built to produce.
Your value
+Warranty terms that reference an independent standard settle on the record, not on arguments. Fewer disputes, faster resolution.
+An independent intake grade gives your inventory standing with buyers' lenders and insurers: initial capacity and performance state attested by a neutral party, not the seller.
+The identifier and record travel with each asset from your dock through second life — the traceability the passport mandate requires, produced as a byproduct.
01

Grade at the dock

Initial capacity and performance state determined independently, from BMS data, commissioning tests, diagnostics, or combinations of these, before a system enters a project. First-life or end-of-life.

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02

Reference the standard in your warranty

Your terms cite the measurement standard; claims settle on the computation instead of a dispute between your data and theirs.

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03

Traceability compounds

Every asset carries its record through deployment, refinancing, and end-of-life handoff.

Talk to us about manufacturer programs

Testing & Analytics Partners

Your diagnostics, feeding a record that contracts settle on.

The challenge
!Test results live in one-off reports — read once at a transaction, then shelved.
!Demand is episodic and relationship-driven; there's no standing role for independent measurement between transactions.
!Every lab reports differently, so lenders and insurers discount results they can't compare.
Your value
+Approved partners feed the record as audited inputs — your measurements become part of the settlement-grade history counterparties rely on, not a report in a data room. Your analytics inform the record; the record adjudicates.
+Intake grading and periodic field verification create recurring, standards-based demand for independent testing.
+One reporting format, one published methodology — your results comparable across every project that references the standard.
01

Join the approved list

Maintained jointly with the counterparties who rely on the record. Your existing tools and workflows stay the same.

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02

Test to the standard

Intake assessments and field verifications, delivered in the standard format against the published methodology.

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03

Your attestations compound

Every input auditable, every result part of a chain of custody that outlives the transaction.

Become an approved partner
Ecosystem & standards
Built on work the industry already trusts.
The standard doesn't replace the ecosystem — it connects the diagnostics, control systems, research, and regulation that already underwrite the battery economy.
Independent diagnostics

Testing laboratories & analytics platforms

Approved partners feed the record as audited inputs through an open intake. Any assessor that meets the standard can participate — no single-vendor lock-in.

Management systems

On-board & third-party monitoring

Battery management systems and monitoring platforms are data sources the record can audit. They inform the measurement; the record adjudicates.

Safety & traceability rules

Safety protocols & the battery passport

Second-life safety protocols and Europe's battery passport mandate shape the methodology; passport traceability is supported as a byproduct of the record.

Research foundation

Open science, not a black box

Degradation modeling from national laboratories and academic research underpins the projection methodology.

Chain of custody
Full traceability. Every asset. Every step.
From manufacture through deployment, retirement, assessment, and second life — every event in the asset's life is written to one auditable record, tied to its universal identifier.

Lifecycle traceability

Complete provenance from manufacture through retirement, reassessment, and second-life deployment. No gaps in the chain.

Battery passport ready

Europe's 2027 mandate requires full lifecycle data. The record produces the data trail the mandate requires — as a byproduct of measurement.

Clean liability transfer

Every handoff is documented. Manufacturers get clean separation. Buyers get verified provenance. Responsibility is always clear.

Safety protocols embedded

Safety evaluations follow standardized second-life protocols; the results are embedded in the grade and travel with the asset's identifier.

Auditable for insurers and credit

Carriers and lenders need actuarial-grade data. The record produces it: who tested the asset, who graded it, how it was operated, and what it measured — for the life of the asset.

Anonymous but accountable

Trade anonymously while maintaining full accountability. The exchange protects participant identity; the chain of custody preserves the audit trail.

Where the standard extends
Built for first-life storage first. The record travels further.
The near-term focus is first-life storage: the record, the floor, and the coverage described above. The same identifier and record are designed to extend to the rest of a battery's life — later work, not the current build.

Manufacturer inventory

First-life inventory from paused programs graded and identified the same way, giving it standing with buyers' lenders and insurers.

Second life

A pack retiring from one duty carries its record into the next — re-graded, not re-argued from scratch.

Refinancing & resale

A record that outlives the original loan lets the next lender and the next buyer inherit diligence instead of restarting it.

Battery passport & disposition

Full chain of custody, produced as a byproduct of the record, is what Europe's battery passport mandate and eventual recycling and clearing markets will need.

Vision paper
Read the full thesis.

The complete EcoVerse Vision Paper covers the architecture in depth: the measurement standard and how contracts reference it, the capacity-floor methodology, the coverage and lending structures it supports, the precedents from analogous markets, and the founding-partner roadmap. We share it with serious institutional readers.

Request the Vision Paper
Team
Built by people who've done this before.
Commodity exchange infrastructure meets product execution from the electric-vehicle ecosystem.

Stephen G. Davis

Co-Founder & CEO

Built the first global telecom trading exchange before bringing exchange infrastructure thinking to energy. Designed charging-interoperability and vehicle-grid integration standards — the protocols that let batteries behave as distributed energy resources while respecting driver constraints — putting him in regular dialogue with the California Energy Commission and the U.S. Department of Energy on bi-directional energy and distributed-energy policy. Former Department of Energy advisor and Accenture eMobility lead. Brings the institutional infrastructure playbook to the battery asset class.

Yiming Ma

Co-Founder & Director

Currently TikTok product manager for scaled platforms and user growth. At Tesla, product engineer on Powerwall and global lead for Supercharger. She can scale platforms and she can build products that work — execution from the heart of the electric-vehicle ecosystem and an energy-storage leader.

Kristofer Fröjd

Board Advisor, Europe

Senior energy executive focused on the European energy transition. Leadership and board roles at Ellevio and Nordic energy organizations. Deep expertise in regulated infrastructure, battery energy storage, grid modernization, and digital energy platforms.

Founding Partners

Want to help build
the rails?

We're convening founding partners around the standard — carriers structuring capacity coverage, lenders sizing debt against the floor, owners and developers making projects bankable, manufacturers and testing partners feeding the record. Tell us who you are.

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Or reach us directly at partners@ecoverse.site