OAKLAND, Calif., Nov. 14, 2022 - BlocPower has formed a strategic partnership with Harvest Thermal, positioning the home energy technology company as a key vendor for BlocPower's heat pump home electrification projects.
The agreement provides a framework for both companies to pursue their joint mission to democratize decarbonization for all homeowners, regardless of income. BlocPower, through its contracts with East Bay Community Energy and the City of Menlo Park, CA, presents Harvest Thermal with a pathway to scale in a core market. For BlocPower customers, the deal increases access to innovative and cost-saving heat pump technology that slashes carbon emissions by 90% in California compared to gas equipment and about 50% compared to standard heat pump solutions—in addition to lowering monthly utility bills by as much as 45%.
Scaling heat pump technology in California, and energy load shifting Harvest Thermal systems in particular, will also reduce strain on the state's grid—which recently averted widespread blackouts—while increasing access to cooling as heat waves become more prevalent. Revalue.io, BlocPower's strategic developer partner in the San Francisco Bay Area, is also excited about Harvest's elegant design and load shifting capabilities, looking for support in delivering cutting-edge technology training for their network of Minority- and Women-Owned Business (MWOB) contractors.
BlocPower makes building decarbonization accessible and affordable at scale while helping cities and communities participate in the benefits of climate solutions with job creation and improved health outcomes. The company's focus is the millions of underserved small- and medium-sized buildings nationwide in need of $1.2 trillion in upgrades and responsible for 7% of U.S. greenhouse gas emissions.
"We are delighted to partner with Harvest Thermal on our joint mission to decarbonize homes at the lowest cost. Harvest's groundbreaking technology provides the cleanest space heating and hot water solution in the market. With our scale and $0 down financing solution, we make clean energy accessible for all customers," said Roopak Kandasamy, General Manager-West for BlocPower.
"One of our maxims at Harvest Thermal is lowest carbon energy must be affordable to everyday people," said Dr. Jane Melia, CEO and co-founder of Harvest Thermal. "Given BlocPower's expertise, reach and innovative financial models, BlocPower is the perfect partner for us. The partnership has incredible synergy with the potential to accelerate building decarbonization and meet the US commitment to fighting climate change." Melia was named "100 Women of Influence" by Entrepreneur Magazine in the October issue.
BlocPower and Harvest Thermal are currently scoping a 5 project pilot, before ramping to 50 projects in 2023 and a target of 1,000+ installations in 2024 and beyond.
BlocPower is a Brooklyn-based climate technology company rapidly greening American cities. Since its founding in 2014, the company has completed energy projects in 1,200+ buildings and delivers results ahead of schedule and under budget. BlocPower utilizes its proprietary software for analysis, leasing, project management, and monitoring of urban clean energy projects and its customers are saving 20-40% on their energy bills each year. The company is backed by the world's top investors, including Goldman Sachs, Kapor Capital, Microsoft's Climate Innovation Fund, Andreessen Horowitz and American Family Insurance Institute for Corporate and Social Impact. In 2022, Fast Company named BlocPower the #4 Most Innovative Company in the World.
About Harvest Thermal
Harvest Thermal, Inc, is a developer of patented, ultra-efficient, all-electric, heating, cooling and hot water systems for the residential market. Founded in 2019, Harvest Thermal has been funded and supported by the National Science Foundation, the California Energy Commission, Peninsula Clean Energy, and private investors. Harvest Thermal's award-winning software/hardware, cloud-enabled, platform leverages the power of advanced analytics and machine learning to dramatically reduce carbon emissions, save on customer bills and utilize a greater share of renewable energy on the grid. For more information about Harvest Thermal please visit www.harvest-thermal.com, as well as on Twitter and LinkedIn.