Kelvin

Building Energy Managementkel.vin

Kelvin designs the Cozy smart radiator cover and Adaptive Electrification platform to decarbonize legacy radiator-heated buildings. It serves NYC multifamily, university, and affordable housing customers through hardware sales and a no-money-down subscription model, with verified 25.5% heating cost savings.

Company typePrivate
Founded2013
HeadquartersBrooklyn, United States
Headcount51–100
GTM typeB2B
OfferingHardware or Manufacturing

What Kelvin does

Kelvin, formerly Radiator Labs, is a building decarbonization technology company founded in 2012 by Marshall Cox during his PhD in Electrical Engineering at Columbia University. The company designs and manufactures the Cozy, an insulated thermostatic radiator enclosure equipped with sensors, a 12V DC fan, and wireless radio connectivity. Each Cozy unit communicates room and radiator temperature data via LoRaWAN to Kelvin's cloud, which integrates with all major internet-enabled boiler controllers (Entech, Heat Timer, Intech 21, Runwise, Tri-Star) to modulate heating output in real time. The platform delivers an average 25.5% reduction in heating costs, a figure independently verified by NYSERDA, and enables room-by-room temperature control for residents without requiring plumbing modifications or boiler replacement. Installation requires approximately 30 minutes per unit.

Kelvin operates a hybrid revenue model combining hardware sales (Cozy units priced at $750 before incentives) with a no-money-down subscription model that bundles hardware, installation, maintenance, dashboard access, and ongoing optimization for a fixed monthly per-apartment fee. The subscription channel is enabled by an exclusive $100M financing facility with ClearGen. Additional revenue is captured through professional installation services and participation in utility incentive programs (ConEd, National Grid) and federal Inflation Reduction Act tax credits. The company's primary customer segments are multifamily residential buildings (co-ops, condos, rental apartments) in the NYC tri-state area facing Local Law 97 compliance pressure, university residential buildings, and affordable housing properties accessing specialized incentive programs like AMEEP.

In 2023, Kelvin expanded beyond radiator heating controls into the Adaptive Electrification platform, which replaces window and through-wall ACs with networked heat pumps to deliver cooling and mild-weather heating while enabling utility demand response participation. Combined with Cozy, the hybrid approach can deliver up to 80% building decarbonization at roughly 10% of the cost of full electrification. The company has deployed 20,000+ Cozy units across 120+ buildings, including notable installations at Columbia University dormitories (Watt Hall, Claremont Hall), Fordham Hill Oval (1,130 units), and Fairstead Ventures properties. Headquartered at the Brooklyn Navy Yard with manufacturing in Ohio and Maine, Kelvin employs 32 people and has raised $30M in Series A funding led by 2150.

Kelvin firmographics

Firmographics

Name: Kelvin
Legal name: Kelvin
Website: https://kel.vin
Company type: Private
Founded year: 2013
Operating status: Operating
Headcount range: 51–100 employees
Short description: Kelvin designs the Cozy smart radiator cover and Adaptive Electrification platform to decarbonize legacy radiator-heated buildings. It serves NYC multifamily, university, and affordable housing customers through hardware sales and a no-money-down subscription model, with verified 25.5% heating cost savings.
Ownership category
akta.pro rank

Kelvin industry classification

Industry

Product category: Building Energy Management
NAICS: Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (33341), Power Boiler and Heat Exchanger Manufacturing (33241)
SIC: Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Heating Equipment, Except Electric & Warm Air Furnaces (3433)
akta.pro primary industry: Hydronic/Baseboard Radiant Heating Service (HSAOACAE)

Keywords

Smart radiator covers
Building electrification platform
Heating energy efficiency
Radiator temperature control
Building decarbonization solutions

Where Kelvin is headquartered

Location

Headquarters

HQ city: Brooklyn
HQ country: United States
HQ region: North America

Offices3 records

Markets served

Kelvin business model

Business model

GTM type: B2B
Offering type: Hardware or Manufacturing
Cost components: Technology or R&D, Supply Chain, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

Subscription Model: Fixed monthly price per apartment for the duration of the subscription. Includes maintenance, dashboard access to data and alerts, and carbon and cost savings. No upfront cost to building owners.
Hardware Sales: One-time purchase of Cozy units at $750 before incentives. Available for purchase or through subscription model.
Installation Services: Professional installation included in service. Installation takes approximately 30 minutes per unit with no plumbing required.

Pricing tiers

Model	Billing	Price
Subscription	Monthly	Subscription - No upfront cost
One time/ perpetual license	Pay-as-you-go	One-time purchase
Other	Multi-year contract	Utility Rebates and Tax Credits

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Kelvin product offering

Product offering

Core offering

Kelvin manufactures and sells smart thermostatic radiator covers (the Cozy product family) that install over existing radiators to provide room-level temperature control and reduce heating costs by an average of 25.5% (NYSERDA verified). The company also operates the Adaptive Electrification platform, which replaces window ACs with networked heat pumps to enable hybrid building electrification, demand response participation, and time-of-use pricing for legacy radiator-heated buildings.

Product overview

Kelvin is a platform-plus-products company offering two integrated solution lines for legacy radiator-heated buildings: (1) The Cozy product family — smart insulated radiator covers available in Core (standard) and Custom (bespoke) variants — which provide room-level temperature control and boiler optimization; and (2) the Adaptive Electrification platform — a heat pump orchestration system that replaces window ACs and enables demand response participation. These solutions work together as a hybrid electrification approach, with Cozy covering radiators for boiler-dependent cold-weather heating while Adaptive Electrification handles cooling and mild-weather electric heating, together reducing fossil fuel use by up to 60-80%.

Differentiator

Problem solved

Functional benefit

Brands

Cozy: Smart radiator cover product line that provides precise temperature control and efficient heating for legacy radiator-heated buildings.
Cozy Core
Cozy Custom
Adaptive Electrification

Products and services

Cozy Core Standard smart insulated radiator cover with an e-kit (electronics kit) featuring a 12V DC fan, temperature sensors, and wireless radio. Consumes less than 12 Watts, includes an AC adaptor for a standard 110VAC outlet, and provides room-level temperature control for legacy radiator-heated buildings by trapping heat when desired temperature is reached and distributing warm air when needed.
Cozy Custom Custom-made smart radiator cover sized specifically to each radiator. Compatible with cast iron radiators, baseboards, and recessed convectors. Delivers NYSERDA-verified 25.5% average heating cost savings by combining an insulated thermostatic enclosure with sensors and cloud-based boiler optimization.
Adaptive Electrification Platform Heating and cooling platform that replaces window and through-wall ACs with networked heat pumps in legacy buildings. Reduces fossil fuel use by up to 60%, enables participation in utility programs such as time-of-use pricing and demand response, and combines with the Cozy family to deliver up to 80% building decarbonization at roughly 10% of full-electrification cost.

Quantifiable outcome

25.5% average savings on heating costs as verified by NYSERDA
+6 more outcomes

Companies that use Kelvin

Customer profile

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Kelvin technology and API

Technology

Technology focussed Yes

API detail

Has API: Yes
API docs
API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability5 records

Feature4 records

Kelvin partnerships and signals

Strategic signal

Partnerships

Six partnerships are on record, tiered core and minor.

ConEdisoncoreChannel Partner/ Reseller/ DistributorConEd Smart Usage Partner. Kelvin products qualify for ConEd incentives. Partnership through Affordable Multifamily Energy Efficiency Program (AMEEP).
National GridcoreChannel Partner/ Reseller/ DistributorKelvin products qualify for National Grid incentives in New York. Partnership for utility rebate programs.
NYSERDAcoreChannel Partner/ Reseller/ DistributorNew York State Energy Research and Development Authority. Cozy verified for 25.5% average savings. Listed in New York State Technical Resource Manual.
Columbia UniversitycoreStrategic or Co-development PartnerTechnology conceived at Columbia University by founder Marshall Cox (PhD'13). Partnership for deploying Cozy in Columbia dormitories (Watt Hall, Claremont Hall).
GSA Green Proving GroundminorStrategic or Co-development PartnerParticipant in GSA's Green Proving Ground program leveraging federal real estate portfolio to evaluate innovative building technologies.
NYC AcceleratorminorGTM or Marketing PartnerNYC Accelerator program partner providing technical assistance for Local Law 97 compliance.

Scale indicators9 records

Recent moves7 records

Expansion highlights6 records

Kelvin competitors and assessment

Company assessment

Direct peers

BlocPower: Building decarbonization platform that retrofits multifamily buildings with energy efficiency and electrification measures, often financed via no-money-down models. Directly comparable to Kelvin on target customer (multifamily in legacy buildings), financing-led GTM, and focus on LL97-era decarbonization.
Sealed: Whole-home energy retrofit company that finances and installs insulation, HVAC, and weatherization upgrades with a no-money-down subscription model. Directly comparable on the financing-plus-retrofit model targeting older residential buildings.
Tado°: European smart thermostat company with a strong smart radiator thermostat (TRV) product line. Directly comparable to Kelvin's Cozy on radiator-level heating control, though primarily serving European hydronic systems rather than US steam radiators.
Carbon Lighthouse: Building decarbonization services company targeting commercial and multifamily real estate with measurement-driven energy efficiency retrofits. Comparable to Kelvin on customer segment, decarbonization value proposition, and reliance on utility incentive programs.

Emerging players

75F: IoT and AI-driven building controls platform for HVAC optimization in commercial and multifamily buildings. Comparable to Kelvin on cloud-connected building controls, predictive HVAC optimization, and focus on legacy building efficiency.
Dandelion Energy: Residential geothermal heat pump installer targeting legacy home decarbonization. Comparable to Kelvin as a residential building decarbonization play, though Dandelion's approach is full heat pump replacement versus Kelvin's hybrid incremental retrofit.
BrainBox AI: AI-driven HVAC optimization platform for commercial buildings, reducing energy consumption through autonomous building controls. Comparable to Kelvin on cloud-based HVAC optimization and AI-driven efficiency, though BrainBox AI targets larger commercial buildings and works with central HVAC systems.

Broad incumbents

Danfoss: Global industrial manufacturer of radiator thermostats, hydronic controls, and HVAC components. Comparable to Kelvin as a dominant incumbent in radiator-level thermostatic control, though serving a much broader international market with traditional mechanical TRVs.
Honeywell: Large industrial conglomerate with a major building technologies and HVAC controls portfolio including smart thermostats and boiler controllers. Comparable to Kelvin as a broad incumbent that controls much of the boiler controller ecosystem Kelvin integrates with.
Ecobee: Smart thermostat company (acquired by Generac) serving residential and light commercial HVAC control. Comparable to Kelvin on smart thermostat technology and HVAC controls, though Ecobee focuses on central air systems rather than hydronic radiators.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Kelvin compliance and trust

Trust signal

Compliance3 records

Kelvin financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Kelvin leadership team

Management profile

Number of profiles

Profiles6 records

Kelvin funding detail

Funding detail

Funding overview

Funding rounds12 records

Investors12 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Kelvin M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kelvin

What does Kelvin do?

Is Kelvin a public or private company?

Kelvin is a private company. It is classified as venture growth investor backed and is currently operating.

When was Kelvin founded?

Kelvin was founded in 2013. It employs 51 to 100 people.

Where is Kelvin based?

Kelvin is headquartered in Brooklyn, United States, in the North America region.

How does Kelvin make money?

Three revenue lines are on record. Subscription Model is the primary driver. The others are hardware Sales and installation Services.

Who are Kelvin's main competitors?

Direct peers on record are BlocPower, Sealed, Tado° and Carbon Lighthouse. Emerging players are 75F, Dandelion Energy and BrainBox AI. Broad incumbents are Danfoss, Honeywell and Ecobee.

Does Kelvin have an API?

Yes. Kelvin provides a standard boiler controller API that exchanges room and radiator temperatures with building boiler controllers via the cloud. The Cozy communicates with radio gateways using LoRaWAN protocol, and data travels over the internet to Kelvin's servers, then back to the boiler controller. Integration works with all boiler controllers including Entech, Heat Timer, Intech 21, Runwise, and Tri-Star.

What industry is Kelvin in?

Kelvin's product category is Building Energy Management. Its primary akta.pro industry code is HSAOACAE, Hydronic/Baseboard Radiant Heating Service. Its NAICS code is 33341 and its SIC code is 3585.