Boston-based Reservoir has raised an $8 million seed round led by Asymmetric Capital Partners, with participation from Founder Collective and MCJ. The company builds heat pump water heaters that use predictive software to learn household hot-water demand, reduce energy use and shift electricity consumption away from peak periods. Reservoir says each unit can save customers about $800 a year versus standard electric tanks.
Reservoir’s systems combine heat pump technology with algorithms that anticipate when households need hot water, allowing the units to run more efficiently and avoid drawing power during peak grid times. The company positions those savings as a customer benefit and a way to smooth household electricity demand.
Heat pump water heaters as grid resources
Water heaters are a major source of household energy use, but their inherent thermal storage also makes them candidates for demand-response programmes and virtual power plants. By preheating or delaying heating cycles based on predicted demand and grid conditions, heat pump water heaters can help shift consumption away from peak periods and provide flexibility to the electricity system.
The funding round supports Reservoir’s work on these heat pump-powered units and their predictive controls, which the company highlights for both energy savings and potential grid applications.
