Eddy Smart Home Solutions Ltd.'s announced an expansion of its service agreement with one of Canada's most prominent multi-residential developers. First partnering for a leak protection initiative in one of its 280+ suite luxury condominium projects, the developer then committed to 5,000 units in their construction portfolio, and recently increased that to 12,500 units. Based on Eddy's existing contracts of a similar nature, the incremental contracted value opportunity is approximately $12.5mm, extending the entire opportunity with this developer to approximately $22mm.

Eddy's system protects the building and units with a comprehensive system of real-time monitoring, smart sensors, and remote and automatic shutoffs that identify and action issues from the construction phase when the water is first initiated and extended to all functioning areas of the finalized building post-occupancy, including the risers, hydronics, in-suite, and common areas. An emerging focus on effective leak protection and mitigation has resulted in significant benefits during both the course of construction and once occupied. Through the deployment of Eddy's system both during and post construction, the buildings are protected with intelligent, innovative technology that mitigates risk, while providing tools for resource management.

Eddy Solutions' system tracks the presence of water with smart equipment connected to an App and property management dashboard, providing information to the use of water and immediately notifying when water events are detected. The system's use of sensors, flow monitoring, and shutoffs reduces the risk of water-related project delays during construction, and water damage in completed/occupied buildings.