A machine learning-led decarbonisation platform that has found success in Asia-Pacific is to formally launch in the UK this week, with developer Ecolibrium announcing it is to relocate its global headquarters from India to London.
The company’s SmartSense system brings together data from thousands of internet of things (IoT) devices from across a facility’s entire energy infrastructure, helping to inform companies’ sustainability targets and provide them with “a blueprint for achieving operational excellence” across their buildings.
Ecolibrium’s technology has already been used by 150 leading companies, drawing data from across 50 million square foot of space. Its client roster includes the likes of Amazon, Fiat, Honeywell, Thomson Reuters, Tata Power, and the Delhi Metro, with the firm claiming that an annual reduction of five to 15 per cent in carbon footprint has been achieved to date by companies which have Expand the system.
The news of the company’s launch in the UK came as it confirmed it has raised $5m in a pre-Series A funding round to support its international expansion. The round was co-led by Amit Bhatia’s Swordfish Investments and Shravin Bharti Mittal’s Unbound venture capital firm, alongside several strategic investors.
Ecolibrium has also strengthened its senior UK management team, as it prepares to roll-out its green platform to UK clients.
“By using our proprietary machine learning-led technology and deep in-house expertise, Ecolibrium can help commercial and industrial real estate owners to deliver against ESG objectives, as companies awaken to the fact that urgent action must be taken to reduce emissions and achieve net zero carbon targets in the built environment,” said Chintan Soni, chief executive at Ecolibrium. “Our goal is to partner with companies and coach them to work smarter, make critical decisions more quickly and consume less. And, by doing this at scale, Ecolibrium will make a significant impact on the carbon footprint of commercial and industrial assets, globally. “
Research from the World Economic Forum has found that the built environment is responsible for 40 per cent of global energy consumption and 33 per cent of gas emissions, with one-fifth of the world’s largest 2,000 companies adopting net zero strategies by 2050 or earlier.
Ecolibrium said it believed new smart technologies have huge potential to slash buildings’ carbon footprint while also reducing operating costs for businesses at a time when energy costs are soaring.
The company’s UK launch was also welcomed by Minister for Investment Lord Grimstone. “Tackling climate change is crucial in our quest for a cleaner and green future, something investment will play an important part in,” he said. “That’s why I’m pleased to see Ecolibrium’s expansion to the UK. Not only will the investment provide a revolutionary sustainability solution to reduce carbon emissions across various sectors, it is a continued sign of the UK as a leading inward investment destination, with innovation and expertise in our arsenal”.