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BuildingIQ Receives United States Patent for the Underlying Technology of its 5i Intelligent Energy Management Platform
Intelligent energy management company
expands its library of intellectual property with patent for advanced
HVAC control system and methodology
SYDNEY & SAN MATEO, Calif.--(BUSINESS WIRE)-- BuildingIQ (ASX: BIQ) today announces that it has received a United States Patent for Predictive Energy OptimizationTM (PEO) technology that serves as a cornerstone for its 5i Platform. The platform enables services ranging from ticket management, to managed retro-commissioning, to predictive closed-loop control that tunes a building’s HVAC settings every four hours. BuildingIQ’s intelligent energy management platform currently helps optimize operations in more than 950 buildings and approximately 75 million square feet. The new patent underscores BuildingIQ’s position as the leading software services provider in the building energy management space, and could further enable the company to pursue opportunities in commercial buildings and corporate campuses, as well as in healthcare, education and government facilities.
Using a five-pillar approach consisting of data capture and analysis,
modeling, measurement & verification, control, and human expertise,
BuildingIQ has invented a better method to creating Internet of Things
(IoT)-enabled buildings. BuildingIQ is able to deliver energy savings
without upfront capital, thus optimizing previous investments in
building infrastructure. In fact, in 2016, commercial customers at one
West Coast utility generated nearly $15 in energy savings for every
dollar investment in the BuildingIQ subscription.
BuildingIQ (ASX: BIQ) helps building owners and operators worldwide lower energy use, increase building operations efficiency, and tenant comfort.
The company’s 5i cloud-based platform and managed services deliver on the promise of IoT for buildings with none of the drawbacks. Approximately 75M square feet of building space is serviced by BuildingIQ.
Investors in BuildingIQ include the Venture Capital unit of Siemens Financial Services, Paladin Capital and Exto Partners.
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