We're going to start with a three-minute video to show you our technologies. We have 100 patents and patent pendings, 45 issued U.S. and globally. We're highly disrupted. We won seven consumer electronic awards. Our management team and investors include several Fortune 100 CEOs, former CEOs, and other world-leading people. We'll educate you on our model of a razor and the razor blade model here and the opportunities we open. Bottom line, we're opening an entire new world on the ceiling. With that being said, we'll start with a three-minute video. Thank you.
[Presentation]
When we're talking about razor and the blade model, this is really a fraction of really our entire story. With our 100 patents and 45 issued already, we have much more to come, but that's a sampling. We're opening, as I said, a new world in the ceiling. Two main important things that I want to mention. Everything we invent has to have two significant conditions. Number one is significant safety aspect, and the second one is a big TAM and a major addressable market. If not, we don't invent, okay? The safety aspect, you can see, installing plug -and -play rather than going on ladders with wiring, risking electrocutions, ladder fall, et cetera. Here's a last product we just invented and started launching Successfully. I must say, even it's summertime, we're starting to see really good signals is the heater, the Turbo Heater.
There are tens of millions of space heaters sold in the U.S. every year. You plug them, put them on the floor. People forget them during the night. They leave homes, a blanket falls down, it's next to a couch. There's a fire at home. Here's a simple example of a product you can leave on 24/7 and won't catch a fire because it's on top center of the ceiling. It blows hot air down, the hot air goes down, then rises up naturally, and there's a circulation the entire way. It heats the room much safer and not only concentrated area, okay? Circulates the entire room. You can leave it 24/7 forever, okay? Won't catch a fire. This is one example, and those are two main conditions. If we don't see a major safety aspect or a large addressable market potential, we would not invent.
Everything we do has to have those conditions. Let me see if I know to activate this. I know some things in life, but some things I don't. SKYX is really the X factor. The X factor is so much more to come. The ceiling maximize the performance of every smart home products you have at home. I'll say maybe an exception of a water leak detector. There are sensors that go on the ceiling. I'll still trust a better one that goes on the floor. But think about if this was a light bulb and I put it in the corner of this room, okay, and this room is dark, we'll have a nice glow of light. That corner, the rest of the room is dark. If that was the same bulb, 60 W, top center of the ceiling, okay, the entire room is going to glow.
What am I saying here? With waves, what's true about light is true about AI, sensors, smoke detectors, CO detectors, speakers, microphones, and biggest thing is Wi-Fi. I don't know if you know that. If you take a Wi-Fi extender or router, that most of the people will plug it somewhere in the wall, okay? By moving the chip to the ceiling, you'll almost double the speed of internet and triple the range just by moving that location. Why? No interrupting objects. Okay? The center of the ceiling and the patents we own there is huge for us, okay? The fact we have everything is life-saving aspects, okay, and large addressable market, we strongly believe we're going to be the Tesla of smart homes, and we're going to also be backed by regulators and insurance companies, and we'll show you why.
We can save, not only advanced lifestyle, as you see, save time and save labor cost, as we showed in the Marriott demo we had during a Marriott renovation, we demonstrated our products there, and we proved that we can save up to 90% of renovation time and up to 90% of labor cost. Okay? We had a $16.5 million investment by a large hotel owner that owns 80 hotels. 60 of them are Marriott, and he strongly believes, and that's why he made that investment with us, he's very strategic, that we'll become a standard for hotels. A hotel, t hink about Marriott, for example, okay?
Where we did the demo to prove our case, is that hotels, the big chains like Marriott, they own Starwood, so that means that all the Sheratons are there, and Ws and Westins and half of the biggest brands in the world, okay, they go through a master renovation, usually hotels, every seven years. Marriott has 9,500 hotels. Approximately estimated 2% a year make a master renovation, go through a master renovation. If you can save them 90% of that time and 90% of the labor cost, okay, in some place. I'm not talking about union places, that's massive cost, but electricians are very heavy cost. You can see that we're hitting very strong on life-saving and safety aspect, time-saving, okay, cost-saving while advancing. Show me any company in the world that has those togethers. Take your time, look, it's not easy to find, okay?
It's very unique and rare. That's why we call it our X factor. Much more to come. We have in the pipeline around 1 million units now. We closed major projects, including major smart city in Miami. We started selling our Turbo Heater. We're also doing something, started working with NVIDIA on something. Hopefully it grows to something interesting. Our products, as we said, w e didn't say, actually. In addition to this, the razor and the blade model that we call is the razor is the ceiling receptacle, okay, and the blades are all the products you see, but AI services, monitoring, subscription, and recurring revenues, okay? The residuals are a big player down the road as we expand, and the data we collect is massive, and the AI services we can provide.
I mentioned that we were blessed to have investors and management team, world-class with Fortune 100, actually, CEOs. Our President, Steve Schmidt, is the former CEO of Nielsen, okay, the data rating corporation. He's an expert in data, and that's one of the angles he likes about what we offer on this aspect. He was also President of Office Depot. You can see here Bob Nardelli, former CEO of The Home Depot, Chrysler, and GE Power Systems. It's very interesting, GE Power Systems, to our safety aspect. You can see here Lance Shaner, that we mentioned, owns 80 hotels, 60 Marriotts, is also invested and part of our advisory. All our investors here invest and then they come to help us, and we're not paying them. We are not paying them because they believe in the upside and the future we have. Okay?
Not only getting those names and paying them, that's not easy, okay? Having them coming and joining us and helping the company, okay, for free or based on certain compensation in stock and options on success, it's a major thing, and that's a power we have behind us. You also can see here we have Al Weiss, former President of Walt Disney World Parks, hotels, cruise ships, and resorts, that invested and is helping us a lot. We also have here Khadijah Mustafa, former head of global AI for Microsoft. Right after she retired, two weeks after, she joined SKYX because the AI platform we have is significant. Give her credit. She saw it three years ago. Today, people are starting to see it in other aspects, and hopefully, we can talk about it more.
On the safety side, we have from maybe the most senior people we have on this list, and by the way, I didn't mention Governor Tom Ridge, the first head of Homeland Security and two times Governor of Pennsylvania, not only an investor, our lead board director for 15 years now. Together with our CEO that's on our board for 15 years and stepped in as CEO, Lenny Sokolow, who's not only a savvy business guy, he's also an attorney, a CPA, and was a CEO of a $30 billion asset management company for many years. The tremendous team we have, maybe the most important ones is Mark Earley, that you can see here. Mark Earley, for 33 years, was the head of the National Electrical Code.
To explain it in a simple way, it's like the head of FDA, if we were pharmaceutical, helping us to join. Mark Earley was in charge of every nuclear site, military base, hospital, residential, commercial structure in the entire country for 33 years. All the electrical planning of the biggest projects in this country was his structure for 33 years. He retired right after he joined us. Okay? Not only Khadijah Mustafa, the head of AI in Microsoft, Mark Earley too. Next to him is Eric Jacobson, former President and CEO, 30 years of American Lighting Association. Those two gentlemen here are the most instrument people for safety code changes when it comes to electrical and lighting safety, okay? They're leading our mandatory application to become a standard in every home, and we'll explain a bit more on this.
We also have Paul Chernawsky, former entrepreneur of the year by E&Y, the founder of Endurance, also investor. As we said, we believe we're going to have very strong backing also from insurance companies because what you saw in the all-in-one smart platform, in it today, we have 10 life-saving features in it. We didn't announce all of them, I can tell you some of them already specced singularly by insurance companies and homes. Okay? We'll bring much more to this. We didn't launch that product. We finally got it ready for production. We're waiting on final UL and all kinds of FCC approvals to officially launch it, Part of our pipeline of 1 million units that we have there is many of those platforms. It's a game-changing product, we'll elaborate a bit more.
We have the best tech team here based in the U.S. and Israel and world-leading CTOs here. Our addressable market is $500 billion U.S. alone, that's not including data aggregation, AI services, monitoring subscriptions. The revenues are growing, 58%, 86%, last year, 92%. We have $32 million in cash, we performed nine consecutive year-over-year quarters of growth. We hope and believe we'll continue with that path. This is just the beginning, but that's really part of it. That's a smart city in Miami. It's a 200-year lease that some major developers got in the heart of Miami. You can see all the way down, up in the pictures, downtown Miami, the South Beach and Wynwood. This is really the heart of Miami, all the way west of I-95 to U.S. 1.
To get that footprint, they got this deal, we helped them a lot because our product is really a game changer. Part of that deal, the city of Miami insisted, okay, that also affordable homes and workforce will start getting smart home because if you think about it, that's a big thing that I want you to walk away here from here. Every car today in the U.S. and globally is smart, but 95% of homes are stupid. Excuse me about my French here, okay? Why is it we have so much technology? We've been to the moon 50, 60 years ago. What are we missing here, okay? I think you'll understand what we're missing here and why we got this contract because listen, if it was Cleveland, Ohio or Michigan, Detroit, I'll be as proud. It doesn't matter. Nebraska, any place. I respect all places.
From all the places in the world, to have it in the heart of the city of Miami, that's the most growing tech place in the world. Jeff Bezos moved there, in the last two years. Zuckerberg moved there. Founders of Google moved there, many more to come are in Miami, okay? The fact that we got this product and not all the other smart home companies-- By the way, I'll ask you a question, two questions, you'll see answers soon, okay? Before Tesla, okay, who was the leader of electrical cars? If that's a leader, I'll commit suicide, but it's okay. What do they do as leaders? Bury the project. Bury the project? Yeah, 100. Okay. Now, I'll ask you another question. Who's the leaders of smart homes in America? I don't know. You'll make your own decision, okay?
You know why I invested my life here and all my money and everything I have, that's I believe. Maybe I don't know what I'm talking about. Okay? Why? Smart homes? What did he do in smart homes? Music. By the way, Elon is my god, It's like you're talking Michael Jordan of . Company name? Yeah. Okay, someone knows Elon here as a smart home? No. No, he's probably not a leader. If he was a leader, we knew it. Everyone knows Tesla and when it started? Okay. You know why? I respect Elon, and I respect every other smart home. There's no leader in this industry. The biggest company in this industry doesn't own a fraction of 1% of that industry. So if those are leaders, there's no leader. You know why?
The complexity and how stupid they are. They're selling a product, and if you ask friends that have smart homes, it's a nightmare. They have to glue their phone to their ear with customer service 24/7. Don't believe a word that I said. Just please go validate everything I said today, and you'll see there's no leader in the smart home. Doesn't make sense, okay? I will show you soon the reasons why. This is a proof of concept how we got this product. They're going to have train stations, shopping centers, malls, Publix, Home Depots, and much others. We're going to deploy around 500,000 units here. We have other projects we announced in Austin, Texas, San Antonio. We're also in the Middle East involved with a major U.S. developer that's doing projects in Saudi Arabia and Egypt.
We're doing a smart home community in North Carolina next to a mega center of Microsoft. We also now announced expansion in Europe. We got a brand standard and Group OTT's hotel chain. This is one of the hotels we're doing in Europe now. Those are the projects I mentioned. This is how we become the Tesla of the smart home. We can make a smart home become in minutes. Okay? A smart home in this site today will take you weeks to do. We do it in minutes, and we do it much better. This is the razor and the blade model. The razor is the outlet, goes on the ceiling. The blades is everything you see here, from exit signs to recessed lights to chandeliers to ceiling fan to our smart home platform . We're going to also have plug-and-play outlets on the wall.
You can do an entire home here within an hour rather than weeks with any other technology, and it will work much better, as we'll show you soon. Same concept of Apple. You have all the gadgets on your phone. If I asked you 15 years ago, "Do you have a flashlight? Do you have a map? You have a newspaper?" Let me look in my bag. Today, you have a small piece, a size of a chocolate bar, that your personal platform. This is exactly what we do in smart home. We took all the smart gadgets and the safety gadgets, put them all in one to create this. This is the biggest enemy of smart homes. It takes you days for one bedroom just to wire the home, and then the gadgets go all around the room. Here, one plug, you save 99% of time, okay?
The cost of this part here will cost you three times more than our device paid for and installed in your ceiling. We're saving. That's very easy to prove. What's more important is that when you have this, ask your friends. It's lagging. This device doesn't connect to this one. You call customer service. Why? It's separate devices, separate clouds, and separate frequencies. It's exactly the same concept what we're doing, like the smartphone, the iPhone. We have everything one synchronized on one device. All the safety and security features. Home security is one industry. Home safety, life saving. Communication is another one. Smart home, elder living, hotels, cruise ships, hospitals, and on and on and on. We have five times more electronic real estate in the iPhone. That's what I mentioned earlier.
Look what we do to Wi-Fi and any other chip we put here, okay, for smart homes, as I said, exception of a water leak detector. It will double the speed of internet, triple the range. What happens here, you put it on the wall like everyone else. That's where the outlet touches the furniture. That's why you have bad internet at home. Once you put it in the ceiling, same like a light bulb, you'll almost double the speed of internet and triple the range. This is what we do here. Those are the data aggregation, AI services, monitoring, subscriptions. Takes you minutes to do one bedroom, a couple of hours to do a smart home, a big one, rather than weeks, and it takes you days to do a hotel, okay? A renovation of hotel is three months to 12 months. Depends on the size.
We do it for three days to a couple of weeks. Also for mobile homes. Here is a major factor. Look at this slide. Super important, okay? Those are the most prominent mandatory standardizations in American history, okay? Wall plug instead of wires. Edison base, as we showed in the video, was installed with wires. When the GE, and he started GE. When the GE became a global company, when they invented the Edison base. This is our footprint. This is why we have Fortune 100 people investing with us, working with us, backing us, because they know what we have. The market doesn't understand, by the way. It's our curse. It's fine. We're laser-focused in making things happen. It's our curse. It's gift for others, but that know what we're doing. You can see the GFCI. This is exactly in every bathroom you have.
This is what we're going to happen with us. Every hair dryer in America went from a plug to a safer plug. We are going from wires to plug and play. Exit signs, emergency exit. We filled all the criterias. That's another reason all the world-class people are joining us, making it happen. This is a law. There's four bodies in the U.S., NFPA, NEC, CDC, that's in charge of ladder falls and falls in general, and CPSC, that can mandate our product. The bad news, it takes forever. The good news, we started 14 years ago, and that's the average of us. We believe insurance companies and other companies are going to mandate us. We already met all the conditions and beyond. We got a generic name in the code books. GFCI is Ground Fault Circuit Interrupter. It's a generic name for the GFCI. We followed everything here.
We got an acronym now, we call it a WSCR, Weight-Supporting Ceiling Receptacle, and we met that condition. The problem, Wall Street doesn't know what we're doing. Last time it happened was in the 1980s, 45 years ago. We met all the conditions and beyond. The smartest thing, the most challenging thing we had, 10 paragraphs in the National Electrical Code. Each paragraph is like phase III FDA. We got 10. It took us 14 years, and we met the condition of the ANSI/NEMA. People don't know what it is, and we'll explain it really quickly and finalize that presentation. ANSI is the body that's in charge of the safety and reliability of products that go into our buildings. How do you know the rebar in this building is not looks like, and it's going to melt in a few years?
It has to be ANSI-specified for the standard. We are already the standard. We're one step away from becoming mandated, and we believe insurance companies are going to help us too, and regulations are going to help us too, and there's much more we can't talk about that's happening behind the scenes. Last and not least, we believe we can come standards for additional hotel chains. This is what happens every year. There are 10 billion lighting installations globally, 500 million in the U.S. People risk their life. We're 2026. We've been to the moon in 1969, and this is how people install light fixtures. By the way, those are the people that stay alive. They're not even the dead, okay? It's beyond ridiculous, and this is why we have so much support from world-leading people.
This is all our products, go to market, and we started, and we're growing. Thank you very much. If any question, I know we ran out of 30 minutes, I was told. I'm here. We're staying around. Thank you so much.