[November 21, 2017]

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

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.

"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 (News - Alert) 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.

View source version on businesswire.com: http://www.businesswire.com/news/home/20171121005453/en/

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