No 11. May 2013

Managing Building Energy a Winner

Energy management software company, BuildingIQ, was one of 10 winners in the 2013 Bloomberg New Energy Pioneers Award for its cloud-based predictive energy optimization technology that can reduce heating, ventilation and air conditioning (HVAC) energy use in commercial buildings by up to 25 per cent.

The software monitors and adjusts the system based on variables such as weather, occupancy, demand response signals and utility tariffs. The technology was chosen from hundreds of companies and was among Bloomberg's top global innovations for the year. The award presentation was at the sixth annual Bloomberg New Energy Finance Summit in New York.

Bloomberg New Energy Finance said the building energy management systems (BEMS) market expected to be worth about US$6 billion worldwide by 2020, according to Navigant Research; and BuildingIQ's Predictive Energy Optimization software meets the demands of the expanding industry.

BuildingIQ's chief executive, Michael Zimmerman, said the company has made significant steps to secure its spot at the top of the cleantech industry, most recently in January this year raising US$ 9 million in venture funding from energy industry leaders Schneider Electric, Alstom, and Siemens.

The BuildingIQ software was initially developed by CSIRO, and can be retrofitted easily.