Thanks to artificial intelligence, Brussels tech allows large property owners to monitor their water consumption as closely as possible... and reduce it.
When asked about Shayp's results, co-founder and Managing Partner Grégoire de Hemptinne starts by talking about litres of water saved. Thirteen billion last year, to be precise. An answer that speaks volumes about the ‘impact’ mission that the Brussels-based start-up, founded in 2017 and awarded the B Corp label, has set itself. That doesn't stop it from having financial ambitions. The company's ambition is to almost double its turnover every year between now and 2028.
Financial and environmental benefits
Shayp's technology allows owners and operators of non-residential buildings to identify water leaks and monitor their consumption in order to reduce it. ‘One in three buildings is subject to faults. And these can account for up to 20% of water bills’, points out the co-founder. A major problem when you consider that 95 to 97% of leaks go undetected or unreported.
In practical terms, Shayp equips the water meter in a given building with a data recording system. The system, which is linked to a platform, monitors water consumption in real time and, by analysing its algorithms, identifies any anomalies and generates alerts for building managers. This enables repair services to be deployed quickly and efficiently when necessary. ‘I like to compare us to the Shazam of water, because we really listen to the flow of water to identify the source of malfunctions,’ adds Grégoire de Hemptinne.
From Lidl to Paris Saint Germain
The company signs contracts with its customers for periods of up to 5 or 10 years. The company's director estimates that, on average, the adoption of his technology reduces consumption by 20%, and pays for itself in less than a year. As well as reducing bills, Shayp helps to prevent major damage that could be caused by a leak.
When it was launched, the company was mainly targeting insurance companies, a target it has since extended to major public property owners - local authorities, building authorities, etc. It also serves hospitals and universities, managers of industrial sites or networks of fragmented buildings, such as retail chains, hotel groups or restaurants. ‘We help them prioritise repairs and certify buildings in order to preserve their value’, explains the director.
Lidl, ING, several Brussels municipalities and universities are among its customers. Even Paris Saint Germain, whose stadium is equipped with its sensors. Shayp has also sealed a deal with the Société Wallonne des Eaux, which distributes its solution to end users. ‘We'd be delighted to explore a partnership of this kind with Vivaqua,’ says Grégoire de Hemptinne mischievously.
From detecting anomalies to optimising usage
The CEO is delighted that competition in his niche is fairly limited. However, he intends to develop his platform further over the next few years, notably through R&D partnerships with the VUB and ULB, and via European projects. ‘Research is still at an early stage in our field. There is still a lot of room for progress, particularly in terms of connectivity in flooded areas and the disaggregation of data flows prior to their analysis’. Ultimately, the aim is not just to detect anomalies but, like smart energy meters, to know and analyse very precisely the flow of water in a given installation in order to optimise its use.
‘Research is still at an early stage in our field. There is still a lot of room for progress’.
- Grégoire de Hemptinne, co-founder
International expansion
With climate change, more and more regions in Europe are experiencing acute water stress. For them, good water management is becoming a major issue. As a result, Shayp is expanding its international presence. In addition to France, Spain and Italy, Grégoire de Hemptinne mentions the UK, Germany and Switzerland, where the company has secured contracts. ‘There are two factors that determine our entry into a market: the cost of water and the lack of water. Today, we have really put our technology to the test in Belgium, and it is becoming easier and easier for us to convince people abroad,’ he explains. He is, of course, targeting the Mediterranean basin as a priority. Outside Europe, Shayp is exploring the possibility of expansion with the help of resellers.
ESG
Another factor favouring the start-up's development is the growing importance of ESG questions, which are increasingly pushing companies to report on their environmental efforts. Grégoire de Hemptinne also sees potential for growth here, but regrets that the CSRD, the directive that governs sustainability reporting by companies, does not go as far as it does for water and carbon emissions. At this stage, there is no obligation to publish a ‘water footprint’, just a monitoring recommendation. ‘There's a lot of talk about the EPB at the moment. We would like the authorities to adopt the same approach to water’, he continues.
Shayp currently has 9 experts, three of whom are dedicated to developing the platform. Its shareholders include the Amavi Capital and Signa Innovation funds, as well as IMEC, BEAngels and finance&invest.brussels.