The growth of urban populations puts an increasing strain on public infrastructure. Smart cities were born from this increasing strain and designed to reduce the burden on infrastructure, save energy and improve public safety, transportation and connectivity.
This is all well and good when you can start from the ground up and build a city from scratch. However, with many of our urban cities already inhabited by millions of people, this presents a challenge.
This has forced cities to become smarter “building by building” versus a complete overhaul of existing infrastructure.
One of the places many buildings are starting is with the management and improvement of energy consumption and better understanding of how its tenants consume utilities and use the building.
This can be as simple as alerting management when the building is empty yet all the lights are on, to deeper insights into which office floors are using inefficient electronic devices that consume more energy. Or, for example, which of those office floors may be using their own heating and cooling devices, which are in turn causing the building to increase or decrease its own heating or cooling system to offset this.
ASX-listed Buddy Platform (ASX:BUD) is enabling buildings and building managers to get a better grasp on how they consume utilities. Its Buddy Ohm IoT (internet of things) product connects to the building’s utilities to monitor the consumption of energy, and to display this consumption in a user friendly and understandable manner.
David McLauchlan, CEO of Buddy Platform, said: “By providing the information in this manner it actually provides the building manager with an actionable insight – not just an interesting piece of data, that they don’t know how to act on.”
Furthermore, Buddy has recently launched a new Managed Services offering that includes advanced monitoring and insights to help its customers better drive down their energy costs. This service provides real-time alerts and reporting, advanced insights and consulting services to implement efficiency programs and benchmarks.
The Ohm system is being sold across the world, and Buddy has secured some major partners including Dicker Data in Australia, Ingram Micro in the United States and Digicel in the Caribbean.
“The Ohm system can operate in any building, making our market opportunity significant and the sales partners we have secured globally are enabling us to drive adoption of Ohm globally,” Mr McLauchlan said.
Technology plays a key role in any smart city, and it is companies like Buddy that are helping cities to become smarter with technology that not only allows users to monitor their use of energy but to determine how best to improve it.
In the future we could see a smart city that is not only measurable, but is also capable of self-regulating, and eliminates the need for any human intervention. While this remains some distance in the future, technologies like the Buddy Ohm could make this possible.
This content is produced by Star Investing in commercial partnership with Buddy Platform. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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