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BuildingIQ Energy Management Platform Delivers Approximately $700,000 in Energy Savings to Clients in Q3 2014
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Company rounds out Q3 with management of 2 million square feet of
commercial building space and is selected for the Green Proving Ground
Program
San Francisco – October 30, 2014 – BuildingIQ, a leading energy
management software company, today announced its results for the third
quarter of 2014.
Key results from Q3 2014 included:
• Increased recurring revenue by 57.5 percent
compared to Q3 2013, and by 119 percent on a year-to-date compared to
last year;
• Bookings increased 360 percent over the last
quarter, 1,200 percent over Q3 2013 and 497 percent on a year-to-date
basis;
• Achieved a 70 percent increase in backlog growth over Q2 2014 and 560 percent increase over Q3 2013;
• Renewed management of more than 1.4M square feet;
• Delivered more than $700,000 of value/free cash to clients
During Q3 2014, BuildingIQ released version 4.0 of its energy
management platform, which features streamlined analytics, increased
visibility into savings for users and security that is equivalent to
that of Internet banking. The newest release proved that BuildingIQ and
its Predictive Energy Optimization™ software continues to make a
significant impact on the energy efficiency sector. The company also
deployed over 2 million square feet into the platform during the
quarter.
BuildingIQ’s ability to optimize energy efficiency in commercial
buildings led to the platform’s selection to participate in the U.S.
General Services Administration’s (GSA) Green Proving Ground Program.
Through the program, the company’s solution will be deployed in two GSA
facilities so that savings can be documented and performance can be
evaluated in a real world context. In addition, BuildingIQ was named a
2014 Cleantech 100 company by the Cleantech Group.
BuildingIQ also saw continued growth in the North American and
Australian markets in Q3. Most notably in the United States, BuildingIQ
has continued to see adoption of its software within the city of Las
Vegas through the mPowered program. Through this demand response
program, BuildingIQ successfully executed over 100 individual load
drops within the quarter. While in Australia, BuildingIQ’s cloud-based
software has helped a 409,000 square foot hospital achieve a total
energy savings of 20 percent. In addition, the energy management
platform has proven extremely effective at the Australian Technology
Park (ATP), where the software has been deployed within a building
occupied by the National Information and Technology Communications
Center of Australia (NICTA).
“Our ability to optimize energy consumption in even the most energy
efficient buildings is a testament to the power of our energy
management platform,” said Michael Nark, CEO of BuildingIQ. “For
example, the savings we’ve been able to generate within the NICTA
building are particularly impressive since it is already such an energy
efficient building and boasts a NABERS score of 5.5. Our software can
adapt to any building, making it an extremely attractive solution,
especially when you factor in that it is offered on a subscription
basis with no upfront capital required.”
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About BuildingIQ
BuildingIQ is a leading provider of advanced energy management software
that actively predicts and manages HVAC loads in commercial buildings.
As the only supplier of patent-pending Predictive Energy Optimization™
technology, BuildingIQ’s cloud-based solution is powering energy and
operational savings in buildings across the globe with reductions in
HVAC energy costs by as much as 25 percent. BuildingIQ delivers
measureable results and has received backing from tier one industry
leaders including Aster Capital (backed by Schneider Electric, Alstom
and Solvay), the Venture Capital unit of Siemens Financial Services
(SFS VC), Paladin Capital and the Energy Division of the Commonwealth
Scientific and Industrial Research Organisation (CSIRO).
Recognized as a leader in its industry, BuildingIQ most recently was
named winner of the 2013 Bloomberg New Energy Pioneers Award, Fierce
Innovation Awards’ “Best in Show”, a 2013 Cool Vendor in Green IT and
Sustainability by Gartner and listed on the 2014 Global Cleantech 100
and AlwaysOn Going Green Global 200.
For more information visit http://www.buildingiq.com/
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