Company description
The 111 Million American Home owners annually spend $70 billion to climate control their homes. This process is not optimized as the entire volume of the home is climate controlled and 45% of the annual energy bill is on this process.
We propose a solution that uses cutting edge wireless power & data technologies to climate control rooms based on occupancy. This will save more than 50% of the energy.
Our product is retrofit, plug-n-play, easy to install and inexpensive. It has wireless thermal / occupancy sensor, programmable thermostat and automatically controlled vent registers that control the flow of air.
We initially propose to sell our product to the existing 111 million American homeowners out of which large percentages do not use energy-savers. Upon, achieving scale the SmartHVAC product would also be economically attractive for new construction and then eventually expand to commercial as well as industrial buildings.
The market potential for SmartHVAC is compelling because it is exclusive affordable solution for existing homes. SmartHVAC’s market opportunity can be established by observing that nominal savings of 1% of the annual electricity bill for the residential sector we can save up to $694 million per annum. For, 5% we can save customers up to $3.47 billion per annum.
Our product is the only one of its kind because of the exclusive tie-up with partners like PowerBeam Inc (long-range wireless power).
SmartHVAC’s main advantage is the wireless technologies used to power as well as control the vent dampers thereby making batteries and wirings redundant.
As many of our competitors already have strong foothold in the HVAC industries, our biggest risk is that one of them might develop a product similar to SmartHVAC. To overcome this we plan to patent our idea and we also have a potential partnership with one of the largest companies in this space in the pipeline.
Our Key Personnel consists of Srinivas Sai Shreyas ( M.Eng ECE, Duke University) and Aakash Sahai (Ph.D ECE, Duke University) ,David Graham (25 years of experience in optics, PowerBeam founder), Jim Mundell (30 years of experience in commericialization, Nextreme founder, Professor(Duke)) and Chris Surdi (5+ years of experience in entrepreneurial Marketing & Sales)
Team
Our Key Personnel consists of Srinivas Sai Shreyas ( M.Eng ECE, Duke University) and Aakash Sahai (Ph.D ECE, Duke University) ,David Graham (25 years of experience in optics, PowerBeam founder), Jim Mundell (30 years of experience in commericialization, Nextreme founder, Professor(Duke)) and Chris Surdi (5+ years of experience in entrepreneurial Marketing & Sales)
Business model
111 million american homes
$70 billion annual expenditure on energy
45% on average of the energy bill is on climate-control
Controlling climate by zones is the optimal solution
Zoning can be done based upon occupancy
Replacing the whole unit in existing homes does not pay back in 20 years
Our solution uses wireless power and data technologies to achieve occupancy based zoning
SmartHVAC product will pay itself back in 2-3 years
This is based upon an assumption that we save 20% of the annual energy bill
Competitive advantage
Our product is the only one of its kind because of the exclusive tie-up with partners like PowerBeam Inc (long-range wireless power).
SmartHVAC’s main advantage is the wireless technologies used to power as well as control the vent dampers thereby making batteries and wirings redundant.
As many of our competitors already have strong foothold in the HVAC industries, our biggest risk is that one of them might develop a product similar to SmartHVAC. To overcome this we plan to patent our idea and we also have a potential partnership with one of the largest companies in this space in the pipeline.
