Deep-learning AI startup announces new major deal
BrainBox AI 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. AMP Capital, one of the largest investment managers in APAC, now becomes the first organisation 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 centres and logistics facilities throughout Australia and New Zealand.
With this agreement, BrainBox AI is now further expanding its global presence in The Americas, EMEA and APAC. The rollout with AMP Capital comes only days after BrainBox AI’s recent announcement of its launch in Europe, with its technology now available in the UK, Ireland, and Italy. It also follows the company’s recent resale partnership with Hong Kong-based Sunland Cleantech.
“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,” said Sam Ramadori, President at BrainBox AI. “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 offers a unique technology combining deep learning, cloud-based computing and autonomous decision making to support a 24/7 self-operating building. BrainBox AI’s solution enables the HVAC system in a building to operate autonomously, in real time, generating up to a 25% reduction in total energy costs, a 20-40% reduction in carbon footprint and a 60% increase in occupant comfort.
Since its launch in May 2019, BrainBox AI has already teamed up with over 30 partners across the world and is now managing over 40 million square feet of commercial real estate across 5 continents. BrainBox AI’s recent launch in Europe includes an additional 13 buildings, representing over 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 their entire managed portfolio within the next 6 months. This represents over 40 buildings and 14,000,000 sq. ft. of commercial real estate located in Australia and New Zealand.