Portuguese drain water heat recovery startup, Zypho, has raised €516,536 of its crowdfunding goal of €750,000 on Seedrs, with 59 days still to go.
The Portuguese startup has raised 69% of its goal with just under two months left on the crowfunding campaign on Seedrs, which was approved on May 17.
In a nutshell, the Zypho shower water heat recovery device helps people save up to 30% on shower water heating energy.
José Meliço
“This campaign on Seedrs will allow us to move forward with our strategy and internationalization process, as well as to develop new products, said Zypho CEO José Meliço in a statement.
“With this financing model we have been able to attract investors from all over the world, but also to promote our product to potential clients and partners,” he added.
Headquartered in Porto and with an office in Lisbon, Zypho’s “Drain Water Heat Recovery” is an innovative and internationally patented solution that represents a compact and highly efficient heat exchanger.
With Zypho installed beneath the shower tray or bath plughole, it can reuse up to 30% of the wasted energy in every shower.
By using a heat exchanger and without mixing clean and dirty water, Zypho extracts wasted energy to preheat the cold water that travels to the shower’s mixing valve.
Daniel Santos
“It’s not only homes that can use Zypho,” said Daniel Santos, Sales Manager at Zypho.
“Gyms, hospitals, hotels and other businesses and buildings with high shower usage can use Zypho to slash their carbon footprint, energy usage, and energy bills,” he added.
Under the 2012 Energy Efficiency Directive, all EU countries are required to use energy more efficiently at all stages of the energy chain, from production to final consumption.
Zypho products aim to reduce hot water energy consumption in residential and leisure buildings, which is in-line with governmental regulations encouraging the use of equipment that promotes energy efficiency.
According to the CEO, the startup “intends to change the paradigm of water heating and to be a world reference in the field of energy efficiency, recovering significant energy losses, and working towards reducing the ecological footprint.”
With 10,000 units sold since its launch, Zypho is internationally patented and holds the mandatory certifications of performance and quality in the most important markets.
Zypho has two main revenue streams, one generated through partnerships in strategic markets, and the other from direct sales from specific projects that require a stronger R&D involvement. Once completed, these projects create new growth opportunities, either directly or via partnerships.