We deliver the cleanest heating and hot water for homes, while reducing bills and supporting a strong, renewable electric grid. We offer the best path to the growing market of home electrification.
Kensington, CA, USA
One Liner
One Liner
We deliver the cleanest heating and hot water for homes, while reducing bills and supporting a strong, renewable electric grid. We offer the best path to the growing market of home electrification.
What Problem We are Solving
Problem
Homeowners and building professionals need energy- efficient, cost-effective, comfortable and safe replacements for gas furnaces and hot water tanks to meet growing regulations, building codes, capture growing incentives and respond to accelerating momentum to transition to cleaner alternatives. Grid managers struggle with negative energy pricing from excess solar at midday and with expensive and destabilizing growing peak loads in the morning and evening, as homes transition to electric. There is a lack of comfortable and reliable solutions that can solve these issues, cost -effectively to allow them to scale. Harvest fills this gap.
About Us
About Us
Harvest Thermal delivers smart, ultra-efficient, and affordable space conditioning and hot water solutions. A Harvest Thermal system slashes emissions from heating and hot water by 90% compared to gas equipment, and 50% compared to a standard heat pump system, while reducing customer bills by up to 40%.
The Harvest Pod™, a software/ hardware, cloud-enabled platform, leverages the power of advanced analytics, controls and machine learning to deliver the cleanest electric heating, cooling, and hot water at the lowest cost. Managing a single heat pump, the Harvest Pod shifts electric load to the cleanest, cheapest times of the day and operates the water tank as a thermal battery, providing steady, comfortable heating and hot water whenever needed.
Harvest sells our pod to building professionals for new homes and existing homes and also captures recurring revenue through load shifting and demand response services for grid operators and utilities and services to homeowners.
Venture Highlights
Highlights
First patent granted for thermal battery management on June 24, 2022. 4 other patents pending.
$1M grant awarded by National Science Foundation for scaling our tech
Harvest thermal named Best Company at Internet 2.0 Conference
Contract Manufacturing line operational and delivering products.
Certified and permitted product deployed in 17+ homes in the California Bay Area with outstanding results. Pipeline expanded to 750 homes.
First system with air conditioning deployed, more in summer 2022.
Outstanding performance: every system reducing emissions by over 90% with bill savings averaging 30%. No alternative comes close.
15 contractor companies trained in Harvest Thermal systems with more added every month. Annual deployment capability ~ 800 homes. Scalable go to market for retrofit homes in place and ready for expansion.
Developing partnership with large retrofit provider with their dedicated contractor already trained in our system.
Business Model
Business Model
We make money in 3 ways: - Sale of Harvest Pods to new home builders - Sale of Harvest Pods to retrofit contractors - Recurring revenue from load shifting and demand response services to utilities and grid operators, and from services to home owners such as predictive maintenance and alerts, and extended warranties.
Competitive Advantage
Quote
Incumbent gas faces headwinds from policy, rising costs, and growing consumer resistance. Harvest Thermal outperforms all other heat pump systems in the all-electric market. Harvest systems reduce lifetime operational costs by $23k compared to methane gas and over $15k compared to heat pumps in our target markets. Our systems are not just best for the planet, they are best for our wallets, delivering a positive payback compared to all alternatives.
Users
Total Users
210
Total Users (Past 30 Days)
210
Daily Active Users
210
Monthly Active Users
210
Total Paying Users
210
MoM Growth Users
N/A
Organic Traffic %
N/A
Customer Costs
CAC
N/A
LTV
N/A
Churn
N/A
Margins
45%
Go-To Market Strategy
Business Strategy
We sell our systems to building professionals for new and existing homes. Current waitlist: 750. We also offer services to grid operators, utilities and home owners for recurring revenue. RETROFITS: We have developed an installer program tried and tested in the California Bay Area, with 15 contractors, and are in the process of expanding that to additional locations. In addition we are developing partnerships with large retrofit contractors for scale.
NEW HOMES: Pursue partnership opportunities and pilots with large and small US homebuilder. RECURRING REVENUE: demand response and load shifting capabilities for 2/3 of energy load of home, delivering significant value to grid operators and utilities. Predictive maintenance, control, analytics and extended warranty enable recurring revenue from homeowners.
1. Incumbent gas faces headwinds from policy, rising costs, and growing consumer resistance. Separate devices are required for heating and hot water, they result in significant emissions and increasing bills. Harvest systems reduce lifetime operational costs by $23k compared to methane gas, while slashing emissions by 90%. 2. Heat pumps systems require 2 devices, one for space conditioning and one for hot water, and they do not include storage. As a result they operate when electricity is most expensive and most polluting, and also when the heat pump is less efficient (on cold mornings). Harvest Thermal outperforms all other heat pump systems in the all-electric market. Harvest systems reduce lifetime operational costs by over $15k compared to heat pumps in our target markets, while slashing emissions by 40-55%. We see heat pump manufacturers as partners and future acquirers: we can take their heat pump and control its operation to reduce bills and emissions while improving efficiency. 3. Emerging systems with storage: Stash Energy also uses thermal storage, but does not integrate hot water. In addition, they require large devices in each room, taking valuable home space
We are open to meeting up to grab a coffee, or just to chat.
We would really enjoy your feedback and insight into our venture and would be happy to discuss anything that you are currently working on to see if we can be of service!
