Reservoir secures $8M to modernize the household water heater

Co-founded by former Formlabs executive Luke Winston-Almanzar alongside Gabriel Parisi-Amon and Jake Felser, the company recently closed an $8 million seed round led by Asymmetric Capital Partners. Reservoir plans to use the capital to scale its footprint in the Boston area, where it has already installed roughly 100 units. The startup aims to reach 1,000 installations by the end of next year, a milestone Winston-Almanzar believes will reach megawatt-scale capacity.

Unlike standard tanks, Reservoir’s hardware uses predictive modeling to learn household water usage patterns, heating the water when electricity demand and prices are at their lowest. The systems are significantly more efficient than traditional electric or natural gas models, and they include integrated smart features like ultrasonic leak detection. To streamline adoption, the company has launched its own plumbing division, bypassing traditional distribution channels that often struggle with new technology.

Reservoir offers two models: the $5,000 Core and the $6,500 Max, with prices inclusive of installation. After applying local rebates in Massachusetts, the base price drops to $3,950. While the upfront cost exceeds standard electric units, the company claims typical homeowners can save up to $1,000 annually on energy expenses. By offering a 10-year warranty, the team hopes to prove that sustainable home technology can be both a superior consumer product and a viable tool for grid management.