Resilift will develop a house-lifting technology, the residential lifting safety sensor system (RLS3), that will provide an improved and more accessible flood mitigation option for homeowners

The innovation uses custom sensing nodes to lift houses in a faster, cheaper, safer, and more efficient manner. 14.6M properties in the 100-year floodplain have a 26% cumulative risk of flooding over the lifetime of a standard mortgage, thus these floodplain-based homeowners have a one in four chance of total asset loss. Structural lifting processes mitigate the risk of flood damage, but the current process is rife with operational inefficiencies and safety hazards due to an overreliance on human labor. Our team of experts will address critical research questions under the following objectives: 1) identify the optimal set of components to provide real-time data on the lifting plane; 2) develop a working prototype of the RLS3; 3) test the RLS3; and 4) establish market feasibility and a commercial strategy. This project responds to research topic 9.2 coastal resilience. The project addresses the objectives to manage inundation and improve community preparedness in response to coastal hazards. We believe the best way to prepare a community for flooding is by scaling access to structural lifting services. . The U.S. Residential construction market is valued at $718B. In 2023, new construction is expected to level, making room for the improvement of existing structures. With RLS3, resilift can unlock immense value by moving the market from reconstruction to mitigative retrofits of existing buildings. Climate change is a scientific reality that will demand investment in structural lifting services, which is underscored by a substantial total addressable market (TAM). Of the 14.6M homes at severe risk in the U.S., we estimate that up to 80% require elevation to mitigate potential flood damage. At $100,000 per lift, the TAM is $1.168T. Resilift will facilitate front-end financing and insurance brokerage services for homeowners and access marginal customers by making this service more affordable. Resilift will also explore selling RLS3 directly to businesses with approximately 400,000 home building businesses and 5,198 equipment rental companies in the U.S. As potential customers. The construction industry is highly localized with many small companies offering structural lifting services. Despite this, resilift has only identified one potential competitor currently developing innovative structural lifting technology. We dont anticipate the market changing before the commercialization of RLS3, and we will finalize our go-to-market pricing strategy in phase II.