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Eleatec

Neural net predictive control in factories


  • 1 Team Size
  • 2020 Founding Year
  • Vienna Location
  • Company, seed stage Project Status
  • Manufacturing, Predictive Control, Energy efficiency, Energy Saving Markets

The idea:

A self-calibrating neural net predictive control unit for a certain type of factory machinery. Simulations have shown its potential to prevent accidents with humans and cut energy use by > 70 % vs state-of-the-art controllers, which prevents factory downtime and damage to products (Will tell you more in conversations, I'm currently filing for patent :)

Why this is huge:

The controller addresses issues at the top of users problem list, and brings the performance of old machines to the level of new ones without any other hardware change. There are 4 million machines in use, 400'000 being installed each year, growing at 6-8 % annually.

How we'll make money:

Each unit will cost Eleatec < $ 1 k (off-the-shelf parts) , can easily save users $ 100 k , and when priced at $ 5 k -including installation- should sell like hot cakes considering how annoying the issues it solves are, and how much hassle switching to new machinery would be. Eleatec will sell to large distributors for $ 3 k per unit (whose life the device will make easier as well). The goal is to have 0.8 % of machinery retro-fitted in five years, which means a $ 100 million revenue for Eleatec at contribution margins upwards of 66%.

Current state (6 months since raw idea, been working alone):

  • R&D partnership talks with large energy provider and a fortune 100 company that recently allocated $ 1 billion to reduce emissions
  • 3 interviews with Ycombinator ($ 150 k investment at $ 2 m valuation). Plan to get investment in September.
  • 2 research grants
  • High profile advisory board (machine learning Prof. and founder of several highly successful metamaterial firms)
  • User pain verified
  • Simulated proof of concept
  • Patent being filed

Why work with me:

EXPERIENCE

  • Co-founded and led a B2B ETH-spinoff
  • Country Manager for another startup

I WORK LIKE THREE

  • Started this company by myself less than 6 months ago (Full-time)

OTHER

  • People say they enjoy working with me. Apparently I'm a nice guy.
  • Upbeat and focused.
  • I am an excellent presenter, and experienced in getting investors excited (Got three Ycombinator interviews where most don't even get one)
  • You can talk to me about detailed technical problems and ideas due to my technical background
  • I have good connections to industry and investors, and am able to handle every aspect apart from tech development (= you :)
  • I have a track record of getting meetings with CXO's of billion dollar companies, along with some experience building a new sales process and training a team.
  • If you want to build something big without wasting time, I'm your guy.
  • I'll save you lots of life-time. I'm faster than with my first startup. I follow the lean methodology: I'm already getting client buy-in to not only test a prototype, but to develop it in their factory in the first place.

Feel free to share or call anytime!

+4368110293749 a.hayes@eleatec.com www.linkedin.com/in/alexandermarkhayes/

Team

Alexander Hayes

CEO
Founder