Investor News
BuildingIQ Launches 5i Platform for Energy Intelligence Incorporating Technology Originally Developed by CSIRO
Sydney – July 28, 2016 – BuildingIQ tody announced the release of the BuildingIQ 5i platform, a transformational new energy intelligence platform, as well as its completion of the acquisition of technology from Australia’s Commonwealth Scientific and Industrial Research Organisation (CSIRO).
The technology, to be wholly owned as part of this agreement with the CSIRO includes all intellectual property rights in the core technology, associated patents and patent applications, as well as energy optimization (OptiCool) and comfort feedback (ComfortSENSE) technology which is utilized in the 5i platform. The final payment of approximately AUD $0.5million, releases BuildingIQ from the obligation to pay royalties, thereby reducing costs on a go forward basis. Until now BuildingIQ had an exclusive worldwide license to use and commercially exploit the core technology in commercial buildings as a component of its Predictive Energy Optimization (PEO) offering.
“CSIRO is one of the largest and most diverse research agencies in the world and was the birthplace of our platform technology in 2009,” said Michael Nark, President & CEO of BuildingIQ. “ Over time we’ve worked tirelessly to enhance the data analysis, learning modeling, and predictive control capabilities of this technology, and it remains a core component of the new BuildingIQ 5i platform.”
The new 5i energy intelligence platform enables services that provide a better building IoT (Internet of Things) solution for a single building, or to a global portfolio of properties. The new platform uses a five pillar approach in addressing the energy efficiency value chain:
- data capture analysis;
- advanced modeling;
- measurement & verification;
- closed loop predictive control; and,
- expert human analysis.
Services built on the 5i platform enable BuildingIQ to bring value to clients at nearly any stage in the life cycle of a building and with BMS of nearly any level from rudimentary to state-of-the-art. For instance, a multi-year engagement could grow from simple baselining and self-managed energy monitoring, to an extensive retro-commissioning and BMS management service, to a fully automated demand response service with embedded automated measurement and verification. The ComfortSENSE technology from CSIRO adds a real-time, dynamic, “human sensing” factor to the BuildingIQ platform and encourages increased end-user engagement in their company’s energy use.
"The infrastructure and needs of buildings within a portfolio of properties can vary drastically from assets that are technically obsolescent to sophisticated innovative BMS implementations,” said Michael Nark. “With the unveiling of the BuildingIQ 5i platform, we are offering building owners and managers an unprecedented level of customization and adaptability in making their properties operationally and energy efficient, while maximizing tenant comfort.”
The 5i platform learns daily to provide a powerful energy intelligence foundation for a building. As buildings evolve, so does the platform - accommodating new BMS systems, new sensors, and alternative generation technologies such as solar and local storage.
The diagram below outlines how the BuildingIQ 5i platform enables the delivery of a range of services at any stage of a building’s lifecycle.
- leverage positive results in initial deployments with customers across the balance of their building portfolios;
- expand channel partnerships with utilities to cost effectively access new market opportunities;
- support expansion into new geographies;
- continue to reduce time and cost of solution deployment;
- integrate on-site generation assets, especially solar;
- accelerate growth by offering additional services to customers; and,
- increase the value of each customer account by providing managed services for energy optimization.
For more information on BuildingIQ 5i, visit www.BuildingIQ.com.
About BuildingIQ
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. Over 60M 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.
