GE, Intel bet big on building energy mgmt

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CIOL Bureau
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CALIFORNIA, USA: Scientific Conservation Inc. (SCI), a building energy management firm based in San Francisco, has received more than $19 million in funding from GE and Triangle Peak Partners LP.

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GE’s investment follows its decision to choose SCI as one of its GE ecomagination Challenge winners for energy innovation. GE Capital Real Estate is also set to deploy SCI’s energy analytics platform in several buildings in the US, Canada, and the UK, said a press release.

SCI has also entered into a new global strategic alliance with Intel. Together, the companies aim to improve energy use in large campuses, optimise data centre cooling, and collaborate on technologies to improve the energy efficiency of IT-intensive workspaces. As part of the alliance, Intel Capital has acquired an investment instrument in SCI.

SCI’s technology, SCIwatch, connects remotely with building automation systems to analyse energy consumption in commercial buildings. The technology enables automated fault detection and predictive maintenance for improved energy efficiency.

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Building energy consumption accounts for 40 per cent of all energy consumed in the United States.

"SCI is now extremely well-funded by a consortium of blue chip investors and positioned to become the world leader of next generation energy management solutions from the cloud for commercial, retail, and public sector building owners and their tenants," said Russ McMeekin, CEO of Scientific Conservation. 

SCI has raised more than $28 million along with existing investors, DFJ, DFJ Growth Fund and the Westly Group, has more than 20 million square feet of building space under management and is on track to exceed 100 million end. The company operates in five countries, the release added.

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