2018 Year-End Blog

Friday, January 4, 2019

Stash Energy 2018 Recap

2018 is over and a new year is upon us. The last 12 months for Stash have been a whirlwind, and 2018 was capped off with Stash being named one of the top Canadian clean-tech companies to watch in 2019 in the Globe and Mail. This will be great momentum for the company and builds upon many successes this year. After an eventful year, we wanted to put together a recap to acknowledge the hard work that our team has done and to update our partners and collaborators.

In the last year we’ve doubled in size, raised a seed round, worked with the Canadian Trade Commission Service, gave presentations at some of Canada’s top clean-tech conferences, refined our product design, and piloted our system.

The Stash Team

Early in 2018 our CEO, Jordan Kennie, received the Rising Star Award at the Energy Efficiency Excellence Awards hosted by NB Power. We were extremely grateful to receive this recognition from our local utility, and we hope to continue to grow our presence in New Brunswick in the year ahead.

After demonstrating our product’s capabilities with our pilot in Prince Edward Island, the company raised $680,000 in seed funding. As we move into 2019, the Stash team is now 6 members strong. We’ve added a Chief Operating Officer, Software Developer, and Business Development Director, and we’ll be looking to hire more new employees as we continue to grow.

To accommodate our new staff, we moved to a larger office in downtown Fredericton – which was originally built in the 19th century as the headquarters of the Fredericton Electric Company.

New Markets and Business Development

The global heating market is quickly evolving as utilities try to decarbonize the grid. We’ve worked closely with the Canadian Trade Commission Service (TCS) to access these markets. Through the TCS, we were part of the Canadian Trade Mission to Paris in April where we met with some of the world’s largest electric utilities, we completed the Canadian Cleantech Accelerator (CTA) in Denver, USA, in May, and in October we were part of the Canadian Trade Mission to Boston.

In addition to trade missions and the CTA, Stash had the opportunity to present at some of the top Canadian clean-tech conferences. The team was in Banff, Canada, for the Banff Venture Forum and the Decentralized Energy Forum, and we also made a presentation at CIX 2018 in Toronto.

Also in 2018, Stash became a MaRS Growth Company and we look forward together throughout the investment-raising path.

Product Development

On the technological side, several important advancements were made. We refined our radiator, increasing its efficiency without raising the cost of the system. Our software team had a busy year developing our smart thermostat and mobile app, giving homeowners a great user-experience while giving utilities the power to set the storage schedule of each individual unit. In 2019, we will continue to work with our manufacturing partner, Maritime Geothermal, to deliver the best residential heating system on the market.

Our team is looking forward to a busy 2019 that will see us continue to grow and deliver our first units to households early in the new year. As events unfold, we look forward to keeping our partners, collaborators, and supporter up-to-date through blog posts, social media, and press releases!