Reservoir raises $8M seed round for smart heat pump water heaters
What's the deal? Boston-based ReservoirDealroom has a profile for this one. Try Dealroom → has raised an $8 million seed round led by Asymmetric Capital PartnersDealroom has a profile for this one. Try Dealroom →, with participation from Founder Collective and MCJDealroom has a profile for this one. Try Dealroom →.
Why it matters: Reservoir's heat pump-powered water heaters use predictive software to learn household demand, reducing energy use and helping shift electricity consumption away from peak periods. The company says each unit can save customers about $800 a year versus standard electric tanks.
The signal: Water heaters are a major source of household energy use, but their thermal storage also makes them a potential building block for demand-response programmes and virtual power plants.
Read more: Heatmap
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