Well hello there, Aristotle: Logical Buildings
Be smart about energy management
Welcome to Issue #3 ofย (un)real estate. Each issue I will shine a spotlight on one startup and how it is helping real estate operators succeed in these trying times. If you enjoy this newsletter, please share it with others.
Asset Type: office, retail, mixed-use, industrial, multifamily
The Need: With significant changes to space utilization and skeleton staffs operating buildings, the need for getting a handle on your energy monitoring and control systems is more important than ever. In this time of unprecedented revenue uncertainty, utility expenses are a great place to look for low hanging fruit cost reductions and potential revenue generation.
Even in the office sector, where many buildings are nearly empty, office buildings are still running and are working to ensure that people have a healthy environment to come back to. While there has been a decline in electricity use across commercial buildings of around 25% on average, many operators are surprised that it hasnโt been steeper.
However, the vast majority of building operators and portfolio managers who are socially-distant from their buildings still lack even the most basic software tools to monitor and control the spaces they manage from afar. What they need is a cloud based platform for AI-driven energy, water and building equipment monitoring and optimization.
It is time to start thinking logically about how you manage energy use in your buildingsโฆ
Spotlight
Company: Logical Buildings
Funding Stage: Post Series C |ย Traction: Customers include AvalonBay, UDR, JLL, Macerich
Description: Logical Buildings extracts real time data from utility meters, thermostats and IoT sensors creating full transparency of buildings operations. Using predictive analytics and AI, the data is transformed into a simple, user friendly app that guides and rewards building operators as they manage their sites more efficiently. Logical Buildings frequently generates up to 15% energy cost savings for its customers.
Pro tip: In many regions buildings can actually earn revenue from the utility for using less energy at specific, high congestion time periods.
Other companies working in the space include: Carbon Lighthouse, Hatch Data and Engie Insight.
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If you missed our last two issues you can check them out here:ย Placer.ai and Obligo.
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Save money and save the planet,
David