Universal mCloud Corp. announced plans to launch new energy savings technology for its Smart Buildings segment through mCloud’s flagship AssetCare platform. This technology, using proprietary AI capabilities, targets up to 20 percent reductions in wasted energy in commercial buildings.
The US Department of Energy reports approximately 30 percent of the energy consumed by commercial buildings goes to waste, totaling an estimated US$57 billion in unnecessary energy costs annually. As highlighted in an ARC Advisory research note about mCloud (September, 2018), restaurants and retail spaces are regarded as especially energy-intensive. mCloud’s AssetCare solution offers an innovative zero-upfront subscription model that creates operational savings to the customer while simultaneously creating a highly scalable recurring revenue stream for mCloud.
These new AI features enhance mCloud’s ability to save energy in commercial buildings. By analyzing numerous data sources, such as space temperatures, outdoor weather, expected occupancy, and HVAC unit efficiency, the technology continuously pinpoints where a building’s energy is being wasted. These data are integrated into a real-time intelligence model that enables AssetCare to make decisions about how to best respond moment-to-moment to changing comfort conditions in a building, improving comfort while simultaneously curbing unnecessary energy use. This enables mCloud to seek energy savings that go beyond basic set point management and pre-set occupancy schedules.
These new AI-powered features are expected to go live to all current and new AssetCare for Smart Buildings customers later this year. In advance of a global launch, mCloud plans to invite select customers to be part of an early access program enabling the use of these features in Q2 2019.