Reservoir secures $8 million to launch smart, efficient home water heaters

Reservoir, a Boston-based company created by former Formlabs executive Luke Winston-Almanzar together with Gabriel Parisi-Amon and Jake Felser, closed an $8 million seed financing led by Asymmetric Capital Partners, with participation from Founder Collective and MCJ. The funding will accelerate deployment of its intelligent heat-pump water heaters, which predict demand and operate during low-cost, low-load periods, achieving nearly four-fold efficiency over standard electric units and five-fold over gas models.

To date the firm has installed about 100 devices and aims for roughly 1,000 installations by the close of next year, reaching megawatt-scale capacity. The heaters also feature leak detection, optional recirculation, and a “party mode” that can deliver up to 150 gallons of hot water. Pricing starts at $5,000 for the Core model and $6,500 for the Max version, with Massachusetts rebates reducing the net cost. The company hopes grid-service payments will keep prices competitive and spur broader adoption of heat-pump water heating.