Learn how Eddy Solutions and Rogers Business have partnered to turn the tide against water leaks.
“When a leak happens, the first person to know is a resident who then calls the property manager", says Travis Allan, CEO of Eddy Solutions. “And then the property manager is scrambling trying to figure out how to shut pipes off. That's really as archaic as it is out there.”
Such is the reality of water leaks in high-rises: sudden, nerve-racking, disruptive and destructive. And it’s a reality Eddy Solutions has sought to alter since its inception in 2015 by Mark Silver, co-founder of Direct Energy, when a leak sprung in his home. The frustration of that incident, including the insurance implications, led to the development of what’s now Eddy IQ: a meter installed in three-quarter and one-inch pipes that utilizes wireless communications to measure water flow, recognize leaks and enable automatic shut-offs. “It’s a very intelligent piece of hardware enabled with software that has a behavioural learning element to detect anomalies,” says Travis. “We started out selling door-to-door, but it’s morphed into a business that’s focused very much on construction, especially of high-rises, industrial properties and large houses. It's formed into a robust, holistic solution.”
“…it’s an exhausting experience for residents and property managers.”
Travis recalls when about 80 to 100 litres of water per minute came gushing out of a pipe at a high-rise construction site, which was already 70% occupied, because a service technician had left a boiler relief valve slightly ajar. “It was a Friday night. All the maintenance people had gone home,” says Travis. “We shut that down in 30 seconds. That would have taken out floors of units.” And Travis is quick to point out that the disaster of a water leak isn’t just about water damage. “You’ve got mold issues and a myriad of different problems that come with water,” he says. “And it’s an exhausting experience for residents and property managers. There are retention issues that arise with residents moving out and others having to be put up in hotels. It’s very stressful.”
The success of Eddy Solutions doesn’t only stem from the business’s innovative and effective technology. By forging strong relationships with developers, insurance companies and Rogers Business, the company has come a long way from selling door to door.
“About 12 months before a building gets turned on or before anyone moves in, our devices go in, providing protection during construction,” says Travis, “and we amortize 100% of the capital costs over an 84-month term.” With the cost split up over such a long period of time involving several different players throughout construction and operation, the solution is perceived to cost “almost zero,” as Travis puts it, for each stakeholder. And with some insurance companies already making smart water leak detection a prerequisite for developers to get insurance, Travis couldn’t be happier that Eddy is the market incumbent. “We wanted to be the bellwether when that demand hit,” he says. “And that is absolutely what’s going on.”
“When you have to connect 2,000 devices across 50 floors, consistent connectivity is critical.”
But pricing and devices aside, an Internet of Things (IoT) solution is only as effective as its network—and the growth of a company like Eddy relies heavily on the relationship it has with its network provider. “The experience with Rogers Business has been amazing,” says Travis. Not only is he happy to be working with a network provider that’s so focused on the IoT space with solutions like smart cities, smart buildings and the connected home, but Travis is also more than pleasantly surprised with how reciprocal and nimble the relationship has been. “The Rogers Business IoT team have been very agile and extremely responsive. It’s been like working with an entrepreneurial company. I was a bit shocked. We feel like there is real ownership between the two of us in terms of how we put our sales together and how to structure the transactions. It’s really a collaborative effort.” And just as important has been the performance of the connectivity Rogers Business provides. As Travis explains, “When you have to connect 2,000 devices across 50 floors, consistent connectivity is critical. Remember, we’re in essence helping protect the building.”
With Eddy Solutions currently in almost 30 buildings, Travis is laser-focused on the future. And he not only sees a major role for Rogers Business in that future, he thinks they’re instrumental in realizing his vision. “With our solution, you essentially have an IoT-connected building from top to bottom,” he says. “With that infrastructure in place, you could add other devices to measure things like air quality, temperature, occupancy, you name it. That’s what we hope to do in the future with Rogers Business: start to offer other solutions that are all part of a buffet.”