Ontario Construction News staff writer
Montreal-based BrainBox AI, which says it specializes in autonomous building technology, has announced a deal with AMP Capital to deploy its artificial intelligence (AI) technology across the global investment management company’s entire managed real estate portfolio.
Investment manager AMP Capital has become the first organization in the world to install an autonomous AI HVAC (heating, ventilation, and air conditioning) system across its managed real estate portfolio, which includes central business district office buildings, retail shopping centers and logistics facilities throughout Australia and New Zealand, BrainBox AI says in a statement.
Since its launch in May 2019, BrainBox says it has teamed up with more 30 partners across the world and is now managing over 40 million sq. ft. of commercial real estate across five continents.
BrainBox AI’s launch in Europe includes an additional 13 buildings, representing more than 1,700,000 sq. ft. of commercial real estate, with rapid expansion planned over the course of the next few months. The partnership with AMP Capital Real Estate in Australia is unique, as BrainBox AI will be installed in the entire portfolio within the next six months. This represents more 40 buildings and over 14,000,000 sq. ft. of commercial real estate.
“In an ever-evolving commercial real estate market, companies around the world face mounting pressure to address environmental concerns while maintaining low running costs to ensure they can deliver the highest possible returns to their shareholders and investors,” BrainBox AI presidentSam Ramadori said in a statement. “Our partnership with AMP Capital is a great example of how BrainBox AI can help a real estate owner, anywhere in the world, make their portfolio fully autonomous and achieve levels of efficiency that are only possible with AI.”
“We are delighted to adopt this cutting edge technology to reduce our carbon footprint and make our buildings a more comfortable place for our customers to work or visit,” said Daniel Lepore, head of asset technology at AMP Capital. “For too long, air conditioning systems have been too slow to react to changes in the weather, wasting energy and costing both the environment, tenants and investors. Now, we won’t have to wait for customers to pick up the phone, the system will respond before there is even an issue. This exciting initiative is also another step towards reducing our carbon footprint, taking us ever closer to our Net Zero Carbon aspirations and delivering our 2030 Sustainability strategy.”
BrainBox AI says its system studies a building and learns how the HVAC system operates, identifies potential improvement opportunities, and then acts on them, making changes and adjustments in real-time. “This technology requires no human intervention yet ensures the highest tenant comfort and energy efficiency,” the company says in a statement.
“BrainBox AI generates up to 25 per cent in energy savings for buildings owners in less than three months. BrainBox AI services real estate owners in several sectors, including commercial retail, office buildings, airports, hotels, shopping centres and long-term care facilities.