Radiator Labs Get Cozy! radiatorlabs.com The Problem • Steam heated buildings waste enormous amounts of money through overheating • In NYC alone, 75% of buildings are heated by steam • Heating represents approximately 30% of a building's energy cost The US Department of Energy estimates about 30% of the heat is wasted, translating into $7 billion in annual waste in the US alone radiatorlabs.com 2 Product: Radiator Labs “Cozy ” (Patents pending) Technology: Insulating enclosure + Thermostatic fan control + wireless communication Uniquely enables tenant/management control of heat output Best-in-class fan provides 8-10 years operating lifetime Radiator Labs “Cozy” radiatorlabs.com 3 How it Works Radiator Labs produces smart radiator covers Cozy is controlled wirelessly and eliminates overheating Pilots in NYC have already shown 2535% reduction in energy use (along with increased comfort for occupants) Cozy + machine-learning mesh network directs heat from hot to cold rooms – equalizing temperatures and maximizing efficiency radiatorlabs.com 4 Tenant/Mgmt Controlled Comfort Control can be kept to management or granted to tenants Allowable temperatures at management discretion. radiatorlabs.com 5 Real-Time Monitoring and Alerts Cloud analytics provide operational and building monitoring support, allowing for a recurring revenue stream. Building Status ALERTS Radiator Faults: Apt. 4G Steam Traps Apt. 2L Apt. 3L • Real-time alerts on temperature issues, radiator health, and boiler function. • Long-term analytics on building operation and optimization strategy allows for a building to be proactive regarding space heating, enabling building staff to be aware of problems before the tenant does and save money on maintenance and fuel costs. radiatorlabs.com 6 Financial Impact to Owners/Managers • 30% fuel savings reduces building OPEX, increasing NOI, enhancing the value of your asset(s) • Tenant comfort is enhanced, fostering retention • Helps reduce maintenance and staff costs through realtime monitoring of systems and problem alerts • Eligible for most utility incentive programs Bottom Line: Saving buildings 30% in heating decreases OPEX by 10% radiatorlabs.com 7 Pricing $495 / radiator (base cost) •Includes comprehensive one year warranty •Installation $55 - $110 each (depends on complexity) •Discounts available for self-install option •Radiators w/space restrictions may incur additional costs Monitoring & Alerts • Included in first year of operation • optional starting year two Utility Incentives • Generally cover 30 40% of installed cost for NG-fueled buildings • Must have firm gas account to be eligible • Dependent on utility approval • Oil & district steam customers enjoy very fast paybacks (no incentives) radiatorlabs.com 8 Contact: 646.902.HEAT (4328) info@radiatorlabs.com Marshall Cox – CEO/Founder Dave Yeskel – COO “170 years later, you can now close your window in winter.” radiatorlabs.com 9 Appendix radiatorlabs.com 10 Cozy Exploded View Cool Air Warm air radiatorlabs.com 11 Cozy Sensors Room wall sensor placement 1. Power supply 2. Room sensor 3. Radiator sensor radiatorlabs.com 4. Steam trap sensor not shown 12 Case Study 33% energy savings Heating System: Two-pipe steam Size: 120 units, 50,000 square feet Fuel: #4 heating oil Vintage: Built in 1908 Costs: $36,000 Payback: Two years radiatorlabs.com 13 Proven Results Before Radiator Labs After Radiator Labs radiatorlabs.com 14 Proven Results 33% (multi year) Reduction in heating costs 33% reduction radiatorlabs.com * Baseline domestic hot water production removed 15 Proven Results $31,000 2-year payback 70 lb. PM 2.5 220,000 lb. CO2 Savings in heating cost Based on $500 unit cost Health hazard in urban areas Annual GHG emissions from ~ 20 cars 60,000 ft2 with yearly savings of $31,000 ~$0.50 / ft2 radiatorlabs.com 16 Cozy vs. TRV Smart Home Home Compatible Energy Savings Cost Radiator Labs Labs Cozy 30% $495 TRVs (Danfoss, Honeywell) ~5% $200 Easy Install Wireless Control Radiator Compatible Lifespan 8 – 10 yrs 2 - 4 years The Radiator Labs Cozy offers superior performance & lifespan compared to TRVs, while providing the connected and learning benefits of smart thermostats. radiatorlabs.com 17 Process 2 weeks Meeting/Demo 2 weeks 2 weeks Proposal/ Feasibility Study Survey Process: Installation: Contract 6-8 weeks Build Install • Each radiator is measured and photographed for a custom fit • 5 minute survey per radiator • ~6 weeks to manufacture • • • • Slips over existing radiator Attach sensors & plug in No wiring or plumbing is touched 15 minutes per radiator radiatorlabs.com 18 How Radiator Labs Fits into NYC 80 x 50 • 30% energy reductions means less GHG emissions & healthier neighborhoods • Helps support goals of Retrofit Accelerator & Carbon Challenges • Full building retrofits are too expensive and not realistic for most owners/managers Steam heated multi-family buildings represent 80% of NYC energy use and GHG emissions* radiatorlabs.com Sources: 2014 NYC Local Law 84 benchmarking report (#1 and #2), 2013 LL87 data (#2 & #3) 19