The Canada Green Building Council kicked off its annual Building Lasting Change Conference in Vancouver this week for three days of opportunities, education, and networking with the leaders, innovators, and change-makers of Canada’s green building industry.
A majority of the conference’s program was focused on the need for older commercial buildings to be retrofitted with new technology in order to reduce their carbon footprint.
According to Canada Green Building Council President and CEO Thomas Mueller, building energy efficient buildings won’t be enough to reach its goal of reducing carbon emissions by 30% by 2030—older buildings must also go through a makeover. Although Canada has already begun taking steps towards a greener, more energy efficient future, there is still a long way to go.
At present, commercial buildings contribute to roughly 30% of the country’s greenhouse gas emissions due to their heating, ventilating, and air-conditioning (HVAC) systems, as well as their lighting and water activities. What’s more, 30% of the energy consumed by commercial buildings is wasted.
According to Mueller, in order for Canada to reach its 2030 goal, up to 60,000 of the existing buildings would need to become 20%–40% more efficient and Vancouver-based Universal mCloud Corp (TSXV:MCLD) (OTCQB:MCLDF) is one company that can help make this happen.
Universal mCloud, a leading provider of AI-powered asset management solutions that combine IoT, cloud computing, artificial intelligence, and analytics, is creating solutions to tackle the world’s most challenging energy problems by curbing energy waste, maximizing power production and getting the most out of critical energy infrastructure.
The company released strong financial results on Thursday, boasting nearly $18 million CAD in revenue for 2018. On top of that, Universal mCloud announced its plan to raise up to $10 million in convertible debentures on Thursday to help fund the proposed expansion of its business, including its international operations.
How AI Technology Can Reduce Energy Output in Commercial Buildings
Universal mCloud developed its AssetCare for HVAC technology to help commercial buildings reduce energy waste by up to 20% by using AI technology to analyze various data sources like space temperatures, expected occupancy, outdoor weather, and HVAC unit efficiency so the system can continuously pinpoint where that building’s energy is being wasted. The platform then makes decisions on a moment-to-moment basis and adjusts settings accordingly to improve comfort and curb unnecessary energy use.
The system’s IoT connected thermostats use adaptive algorithms that optimize the energy use of packaged HVAC units and intelligently minimize peak demand charges. At the same time, AssetCare is monitoring the health of HVAC units, automatically flagging potential issues, and analyzing its performance to ensure the units are running at their best.
The best part about Universal mCloud’s AssetCare for HVAC is that it only requires a simple thermostat install, so there is no need for older buildings to have expensive control systems or undergo major construction to benefit from the system.
Creating Energy Efficiency in China
Canada is just one of many countries looking to reduce its greenhouse gas emissions. In fact, several countries are implementing energy efficient systems in an effort to optimize energy consumption and reduce emissions.
For example, the National Resources Defence Council (NRDC) has been working to promote energy efficient buildings in China. Although China made a commitment to make 50% of its new buildings in urban areas up to green building standards by 2020, existing buildings weren’t factored in, which is where the NRDC came in.
The organization is working with Chinese officials to launch a clean energy program and has helped develop China’s first energy codes for residential and commercial buildings, as well as its first research-and-development program for clean vehicles, and utility-based initiative for energy conservation.
Universal mCloud is also working with businesses in China to help with its commercial building energy waste issues. In April, mCloud signed an agreement with Hubei Huayan Zhidian Technology Co, Ltd. to target commercial buildings throughout 1,200 townships in China’s Hubei province.
The company also partnered with one of the top 20 commercial building contractors in China, SCN Ltd., to provide its AssetCare HVAC solution throughout the Chinese market. This relationship allowed mCloud to secure a 9-year contract with Heiwado to implement AssetCare HVAC at one of its shopping centers in the Hunan Province in China.
The Heiwado contract represents the first in the company’s expansion effort with SCN to take AssetCare to over 1,000 shopping centers across Greater China, representing a portfolio of over 40,000 connectable assets.
It will be exciting to see how companies like Universal mCloud will help create greener, more energy-efficient commercial buildings around the world.
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