Just 100 companies are responsible for 71% of the world’s greenhouse gas emissions. But a big challenge to becoming carbon neutral is data, especially for global enterprises and municipalities. Systems that manage energy production and consumption often don’t share data. So ReEngen developed a platform that both aggregates data across multiple systems and uses it to operate them more efficiently. With artificial intelligence (AI), its platform improves industrial production, renewable energy generation, heating, ventilation and air conditioning by turning data into actionable intelligence. This all helps reduce their carbon footprint.
Istanbul and Gaziantep, the two largest municipalities in Turkey, rely on ReEngen to manage power plants and create accurate utility bills. Retailers like IKEA and Zara and banks like BNP Paribas and BBVA have used ReEngen’s platform to remotely control heating, ventilation, and air-conditioning (HVAC) systems at over 3,000 stores, resulting in a 10% reduction in water and energy consumption.
By installing remote sensors at industrial production facilities, ReEngen built an internet-of-things (IoT) network that improves operational efficiency. And this same platform helps a Fortune 500 company comply with ISO 50001, a global standard designed to help companies reduce greenhouse gas production.
It’s like Google Analytics for energy management created by a team of founders that worked for Siemens, IBM, and Mitsubishi. And their real-time algorithms have helped customers eliminate excess operational man-hours, detect abnormalities, reduce energy costs, and lower energy consumption by up to 20%
Altogether, ReEngen monitors over 300,000 data-points across 7,000 facilities for 100 enterprise customers in five countries, Turkey, Spain, United Kingdom, Saudi Arabia, and UAE. And they have reduced CO2 output by 3270.2 Tonnes since 2016. ReEngen is a portfolio company of Ida Capital.
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