Buoy Labs Launches Smart Home Water Device Empowering Home Owners with Rapid Leak Detection, Remote Shutoff

Machine learning and AI provide real-time, segmented data to better
understand water usage and protect against skyrocketing water costs

SANTA CRUZ, Calif.–(BUSINESS WIRE)–Buoy Labs today announced the launch of the world's smartest home water
device, now for sale across the United States. Buoy™ is a consumer IoT
device that attaches to your home water line, provides real-time and
segmented water usage data, alerts homeowners to costly leaks, and gives
users the power to shut off water remotely.

"Whether it's their long shower at the end of a long day or the
sprinkler where their kids play, every homeowner understands that easy
and affordable access to water is critical to their quality of life.
Unfortunately, for the first time in many of our lifetimes, there are
major threats to this vital resource," said Keri Waters, CEO and
Co-founder of Buoy Labs. "Because water is a 100% renewable resource,
this is a 100% fixable problem – but we need to take action now. If
we're going to protect our way of life, we need to better understand our
home water: how we use it, where we need it, and where it is needlessly
wasted. That's why we created Buoy: to give homeowners the tools they
need to protect their water and their quality of life."

A study released this year from Michigan State University showed that,
within five years, nearly 40% of US households won't be able to afford
their water bill, and preventable leaks are a significant contributor to
this worsening problem.

Independent and Buoy-collected data shows that 10% of all home water use
is wasted every month due to running toilets, leaky faucets,
malfunctioning washers, and other leaks that can be fixed with a single
visit from a plumber. The Buoy smart home water device gives homeowners
a clear picture of their water use, including these money-draining leaks.

Homeowners' insurance companies pay $9.1 billion in water damage
annually, and industry studies estimate that 93% of that could be
avoided by using a leak detection device with remote shutoff.

In an emergency or in the case of a catastrophic leak, Buoy users are
immediately alerted and have the ability to shut off household water
from a button in the app. This instant alert and remote shutoff ability
gives Buoy users peace of mind, saves money, and reduces waste – whether
they're at the grocery store around the corner or on vacation halfway
around the world.

"I got involved with Buoy Labs because they are mission-driven with
exceptional product development talents. They're solving really tough
problems, delighting customers, and contributing to our planet in a
meaningful way," said Toby Corey, former President, Global Sales and
Customer Experience Energy Group at Tesla, and current Buoy Labs board
member and investor. "The Buoy device sets a new high-water mark in
innovation: it's easy to install and use so consumers can take control
of their water usage. The data in the app is exceptionally helpful,
whether you're glancing quickly at today's usage, or looking back at
usage over a week, month or year."

The Buoy mobile app is where water usage data comes to life: Users see
how many gallons they use to shower, keep the lawn green or run the
dishwasher every day. The Buoy app separates water use into categories
(e.g., shower, sink, outdoor irrigation, laundry, toilet) giving
homeowners a view into their water consumption, and a sense of where
their water bill is headed. With water prices rising in water districts
nationwide, homeowners need an effective tool to manage their water
usage.

Buoy works because it is simple to install – one device for an entire
house – and responsive to even the smallest amount of water flowing.
After a licensed plumber installs a Buoy next to the home's water
shutoff valve, the mobile app connects the Buoy device to a home
network. Once attached to a water line, Buoy's sensors detect even the
smallest water use, and send that water use data to the app.

Buoy is shipping now, available for purchase at www.buoy.ai.
The price is $799.00, and includes one Buoy device, worry-free
installation by a licensed plumber, and a lifetime data subscription to
the Buoy service.

About Buoy

Buoy is a smart home device that attaches to the main water line and
uses proprietary machine-learning algorithms to deliver water usage data
segmented by usage type. Buoy's detailed insights mean that homeowners
can enjoy water without worrying about cost or other constraints. Buoy
notifies homeowners of leaks via a mobile app so they can shut off water
remotely. Buoy Labs won a gold medal at the 2017 Edison Design awards,
and honorable mention for the 2017 Fast Company Design awards, and an
Innovation Award for CES 2018. Buoy Labs also participated in the
Highway 1 hardware accelerator program, and recently was awarded a grant
from the Elemental Excelerator in Honolulu, Hawaii. Buoy Labs is based
in Santa Cruz, California; its investors and advisors include Highway 1
Accelerator, Toby Corey, Mark Mitchell, Jay Adelson, Andy Smith, Wallace
J. Nichols, and other corporate and angel investors.

Contacts

DRSmedia
Kevin Brown, 512-917-8744
[email protected]