BuildingIQ Partners with Cypress Envirosystems to Enable Digital Twinning of Older Buildings for Reduced Energy Consumption and AI-driven Efficiency
Older buildings can save an average of 30 percent in electrical energy usage
SAN MATEO, Calif. – April 23, 2018 – BuildingIQ (ASX: BIQ) today announces that it has partnered with Cypress Envirosystems, a company that provides electro-pneumatic thermostat solutions to retrofit existing commercial buildings and industrial facilities, to improve productivity and save energy. As a value-added reseller of Cypress Envirosystems, BuildingIQ is combining its market leading predictive optimization with Cypress Envirosystems’ advanced thermostats. The two organizations will work to equip older buildings with AI-driven solutions to provide greater system insight and control, leading to improvements in tenant comfort and energy efficiency. On average, this collaboration will enable older buildings to reduce electrical energy usage by 30 percent, ultimately increasing the market value of these structures.
“There is a common misconception that some buildings will never be able to capitalize on solutions that are enhanced by the IoT and big data – Digital Twins,” said Harry Sim, CEO of Cypress Envirosystems. “Teaming up with BuildingIQ, we hope to eliminate this belief and bring the energy optimization mindset to facility managers in older buildings to share how visualization and data analytics can result in real savings.”
The partnership between BuildingIQ and Cypress Envirosystems expands the market for closed loop Predictive Energy Optimization™ (PEO) to older building stock that are currently using pneumatic thermostats. BuildingIQ’s PEO reduces consumption at the whole building level by as much as 10 percent, while improving comfort and eliminating operational waste.
Typically, the journey to get to predictive optimization begins with visualization, includes some retro-commissioning, continues on with both advanced fault detection and AI-based diagnostics, and culminates in long term predictive, closed loop control – PEO. However, until the partnership with Cypress Envirosystems, the journey was difficult to undertake for buildings with pneumatic thermostat controls. In combining the BuildingIQ and Cypress Envirosystems solutions, building owners and operators will benefit from 24/7 energy management with ongoing anomaly detection, data analysis and diagnosis. Cloud-based machine learning means that the solution learns and adapts to a building over time and automatically adjusts temperature and pressure set points in specific zones. Furthermore, tenants will realize improved comfort thanks to the feedback from the digital thermostats.
“By working with Cypress Envirosystems, we are extending the benefits of our 5i platform to a significant, and unserved, segment of the existing commercial building market,” said Michael Nark, CEO of BuildingIQ. “Now these buildings can enter the age of Digital Twins – able to leverage cutting-edge, close loop predictive control with integrated IoT capabilities.”
BuildingIQ and Cypress Envirosystems will be hosting a webinar, “Qualify for Utility Incentives Through Digital Twinning,” on April 24 at 2 p.m. EDT.
BuildingIQ (BIQ.AX) provides technology-enabled services to help building owners and operators worldwide save energy, increase operational efficiency, and improve tenant comfort. Through its 5i cloud-based platform, BuildingIQ delivers on the promise of the Internet of Things (IoT) to help visualize, analyze, control, and optimize energy usage within a single facility, campus or portfolio of buildings. More than 100M square feet of global building space is currently being serviced by BuildingIQ to reduce operating costs. www.buildingiq.com
PAN Communications for BuildingIQ
Sean Welch, +1-407-734-7330
About Cypress Envirosystems
The company’s goal is to help existing facilities save energy and improve productivity. They specialize in technologies which can be installed with a minimum of disruption and expense. Their products, such as the Wireless Pneumatic Thermostat, Wireless Gauge Reader or Wireless Steam Trap Monitor, require minutes to install, cost a fraction of traditional solutions, and typically pay back within three years. More at: http://www.cypressenvirosystems.com.