During our three-month Feasibility Study we achieved the following results:
1) Technical: Developed a roadmap for the design, development and testing of both our extreme water saving shower line our fixed faucets needed to make them both ready for the market. We studied the initial product specifications for each line and tested various concepts to determine that an adaption of our patented Dome technology for our showers and an adaption of our Dual Flow technology for the faucets are fitting for the next stage of development. We also studied the design components of each line to understand the design modifications needed for each line (handheld and wall mounted editions of showers and push and sensor for bathroom and kitchen faucets). We also studied various potential prototyping partners before deciding that our current R&D Development partner, Alten, would be the best fit for this project. Finally, since we also want to test our product lines in a customer beta test we compiled a list of potential pilot partners in the hotel sector for our showers, including Nordic Choice Nordic Choice Hotels, ITC and Taj and with either HSF LivinLab, KTH LivinLab or Stanford University for our faucets. We also identified all the main components for our future R&D Manual.
2) Commercial: We developed a list of over 300 potential customers, distributors, retailers, manufacturers and partners for the next stage of roll out of our commercial and communication activities in our target market segments. Developing this list allowed us to better segment our customer base and define a more targeted commercial strategy. We have undertaken an in-depth analysis of the faucet and shower markets and identified a list of opportunities on which to capitalize the sales of our products during the next stage from the use of online sales to the need for a new strategy to target real estate developers. We have also clearly identified the next steps for our existing patents for our Dual Flow and Dome technologies to bring them out of the national phase of ICT, our company trademarks and the need for four new certifications in order to make our products ready for the market. We have also determined the partners to help us bring these patents, trademarks and certifications to fruition.
3) Financial: To better understand the types of sales we need to ensure a speedy return on investment, we have calculated three sales scenarios, slow, medium and fast and determined that in order to ensure that we have a ROI by 2023, we would need to ensure the sales of at least 18K units during the first year of commercialization, and doubling those sales every year thereafter. This would contribute to an annual revenue of €46.45M million by 2024,, with EBITDA of €20.04M.
