We are excited to announce our part in a research and development project worth £900,000, which has been launched in Scotland to develop breakthrough technology in the energy efficiency market. We have partnered with CSEM, a Swiss private, non-profit research company to develop an analytical platform to save energy and increase equipment reliability in commercial buildings. The funding has been awarded through Eurostars, a joint programme between EUREKA and the European Commission. Eurostars awards funding to the development of rapidly marketable innovative products, processes and services that help improve the daily lives of people around the world.
The project will take part over two years and aims to save significant sums of money for governments, councils, schools and commercial properties. It achieves this through connected hardware and software that will both monitor and control energy usage, and flag when specific plant and machinery requires servicing thus optimising efficiency of operation and reducing down time. Due to our vast experience in the market with current energy management systems, the breakthrough technology can be commercialised at a price and footprint not previously imagined, meaning significant savings and fast returns on investment for companies globally.
In the UK alone there are a record 5.4 million private sector businesses, up 3% from 2014. Many of these properties have limited options for energy management with traditional Building Management Systems (BEMs) often only installed at construction stage due to cabling and instrumentation which is complex, time-consuming and disruptive to business. One of the intended deliverables from the project is a system that will offer a low cost solution, easily retrofitted, to the millions of buildings that are currently being neglected.