SYDNEY--(BUSINESS WIRE)--BuildingIQ (ASX:BIQ) today announces that it has been honoured as a distinguished partner for the Entrepreneurship Award from the Commonwealth Scientific and Industrial Research Organisation (CSIRO).
The Entrepreneurship Award was awarded to CSIRO’s research team for the invention of the technology basis, and subsequent commercialisation of the cutting-edge CSIRO technology. BuildingIQ originally licensed, and has subsequently acquired full rights to, the CSIRO technology, which forms the key elements underpinning the company’s 5i intelligent energy platform and services (5i Platform).
The CSIRO technology was originally developed in 2009 and licensed to BuildingIQ. The company’s engineers and data scientists first productised the technology in 2011 and continue to improve it every day. The 5i Platform relies on a five-pillar approach that consists of data capture and analysis, modeling, measurement & verification, control, and human expertise to create Internet of Things (IoT) - enabled buildings.
The award recognises the CSIRO team’s passion, persistence and resourcefulness in developing a technology with an entrepreneurial approach to create customer value that optimises energy, improves operations, and increases tenant comfort in a wide range of buildings.
"CSIRO has helped develop some of the most impactful technologies of our generation, from Wi-Fi to plastic bank notes," said Michael Nark, President & CEO of BuildingIQ. "We are proud of our origins with such an innovative organisation. Our relentless efforts to stay at the forefront of the energy management sector have led to this award and we are humbled that the successful commercialisation of BuildingIQ has been recognised by the CSIRO.”
Earlier this year, BuildingIQ also acquired CSIRO’s ComfortSENSE technology, which has the unique potential to expand BuildingIQ’s data capture and modeling capabilities. It will allow for tenants within a building to provide invaluable real-time comfort data to further refine the 5i Platform’s thermal, occupancy, and behaviour modeling competences. In essence, each person within a building can act as the ultimate building sensor.
Dr. Stephen White, Acting Grids and Energy Efficiency Research Director from the CSIRO, is proud of the combined efforts of the research team and the impact the research has had on a national and global scale.
"Congratulations to the BuildingIQ research team for receiving the CSIRO Entrepreneurship Award. BuildingIQ delivers significant energy and cost savings and demonstrates the impact of CSIRO’s work, providing both national and global benefits. Our partnership with BuildingIQ is an excellent example of a highly successful technology development collaboration to drive energy efficiency on a commercial scale,” he said.
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.