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Blue is the new Green: Water Conservation through Eddy

Blue is the new Green: Water Conservation through Eddy

Let’s face it: Canadians aren’t great at water conservation. We are fortunate to live with one of the most abundant water sources in the world. Despite housing less than half a percent of the world’s population, we hold 20% of the Earth’s total freshwater resources, and 7% of its renewable water (Source).
While water conservation isn’t at the top of our minds, particularly during the winter months, it’s a very different situation in other parts of the world. In fact, there’s a global water shortage looming, and some will argue that it’s already here (Source). In the developing world, nearly 1 billion people do not have easy access to potable water. Every 90 seconds, a child dies from a water related disease, and nearly 1 million people each year die due to water, sanitation, and hygiene related disease each year (Source). By 2025, it’s estimated that 1.8 billion people will be living in areas of absolute water scarcity, while two-thirds of the world may be living under water stressed conditions. (Source).
The good news is that a little conservation can go a long way, and Canadians have proven themselves to be among the most environmentally conscious people in the world. A recent study by the University of Waterloo concluded that 80% of Canadians are willing to make lifestyle compromises for the benefit of the environment (Source). A further joint paper published by Canada Post and Harris Decima found that the Canadians surveyed believe that environmental issues are extremely important. Furthermore, wasteful behaviour by consumers was ranked the #1 cause for environmental concern (Source).
One of the best emerging tools to combat wasteful consumption is the smart home, which can significantly reduce energy wastage through adding fixtures such as smart thermostats and intelligent lighting systems.
The smart home movement and its connection to resource management is a big draw for many consumers. Intelligent water monitoring solutions, such as the Eddy suite of products, can track water consumption on a minute by minute, hourly, and daily basis, so users have a detailed breakdown of exactly how much and when water is being consumed. Many Canadians, for example, may not realize that by reducing their shower time to under 5 minutes, they can save up to 1,000 gallons or 3,700 litres per month. Simply choosing to take showers over baths can add up to big water savings as well.
 Transparency is a big step towards creating the awareness needed to instigate change. Smart water monitoring systems that provide usage data through Apps provide users with the information they need to begin making positive changes to their consumption habits.
Eddy Home Customers Save WaterEddy Home’s customers see a reduction in their water usage of approximately 14% – partially due to early leak detection and mitigation, but also through water conservation tips and challenges. About 5% of the overall water reductions our customers see is through conservation efforts alone.
So, while water conservation is new to Canadians, a little knowledge goes a long way. With the help of Smart Home Water Monitoring, we can all reduce our consumption, ensuring that there’s more water available to those that need it most.
About Eddy Home
Founded in 2014, Eddy Home is an industry leader in leak protection and water visibility solutions. Our suite of smart products offers a comprehensive water management system for homeowners that protects, controls, and conserves. Our products have saved thousands of customers millions of litres of water by continuously monitoring water usage in their home, and if something unusual is detected, alerting them to the issue. For more details, please contact us at 1 877 388 3339 or email info@eddyhome.com.

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Paul Pathak​

Director

Paul Pathak is a partner of Chitiz Pathak LLP. Paul practices principally in the areas of corporate, securities, corporate finance, mergers and acquisitions and commercial law. He represents and provides sophisticated guidance to private and public corporate clients in a broad range of industries, including mining, technology, manufacturing, venture capital and merchant banking.

George Krieser​

Director

George Krieser founded Total Credit Recovery Limited (“TCR”) in 1980 and is the President and Chief Executive Officer. TCR is the largest 100% Canadian-owned and operated collection agency, solely collecting Canadian debt. George previously served as a Director of Universal Energy. He also served as a member of the board of directors of Baycrest Foundation and as a member of the fundraising committee for UJA Federation of Greater Toronto.
Gary Goodman​
Director
Gary Goodman is a Trustee and Chair of the Audit & Risk committee of Boardwalk Real Estate Investment Trust., a former Chairman of Huntingdon Capital Corp., trustee of Gazit America & Brightpath Early Learning, and is a member of the advisory boards of the Vision Funds. Gary was previously Executive Vice President of Reichmann International where he served as a senior financial executive and trusted advisor for over 30 years.

Chris Gower

Director

Chris Gower started his career in construction on the tools – framing houses, where he grew a deep appreciation for the trades. Prior to his current role as Chief Operating Officer, Buildings at PCL Construction (“PCL”), Chris held positions including construction risk manager, senior project manager, district manager and regional vice president. Throughout his more than 25 years at PCL, he has delivered iconic construction projects across Canada, Australia and the United States.

June Thomson

EVP, Sales, Marketing
& Business Development

June joined the Eddy team coming from Enercare after 10+ years in various roles, most recently as Vice President of the North American Builder Division. June has been in the HVAC industry for over 41 years, holding several roles throughout her career from Technician to Provincial Offences Officer.

Saj Khan

COO & President

Sajid Khan helped launch Eddy Solutions and has been in the role of Chief Operating Officer since inception. With more than 20 years of leadership and operational experience in the home services sector, Saj has held roles such as COO of Eco Energy Service, Vice President of Operations at both National Home Services and Universal Energy.

Boris Baril

CFO

With more than 25 years of financial experience, Boris has held both public and private company CFO roles; supported two (TSX listed) initial public offerings (IPOs), debt and equity capital raises, and M&A transactions. Boris graduated from York University and is a CPA, CA.

Mark Silver

CEO & Chairman

Mark L. Silver is President of Optus Capital Corporation. Mr. Silver has made significant real estate investments in both development stage and income producing properties in the residential, commercial and industrial sectors over his 35 year business career. Over the last 22 years, these investments have been made through his company, Optus Capital Corporation. Mr. Silver was a founding partner and Chief Executive Officer of Universal Energy which was sold in 2009 to Just Energy Group Inc. He co-founded Direct Energy Marketing and grew the company to over $1.3 billion in revenues before selling to Centrica PLC (also known as British Gas) in 2000.