Environmental tech company Aeris Environmental (ASX: AEI) is set to target the growing market for smart building technology through a strategic joint venture with Cognian Technologies, aiming to combine their technologies. The partnership, named AerisTech, will leverage Aeris’ extensive environmental expertise and Cognian’s Syncromesh technology to provide advanced energy management and improve air quality in buildings.
As the world grapples with climate change, building operators are increasingly looking to reduce their carbon footprints and improve sustainability, fueled by regulatory pressure and consumer demand for environmentally responsible buildings.
The collaboration will offer building operators the ability to remotely monitor and manage key infrastructure elements, including HVAC systems, lighting, air quality, and energy efficiency, while collecting critical data to meet Environmental, Social, and Governance (ESG) reporting requirements. The rise of smart buildings — with their integrated systems that use the Internet of Things (IoT) to drive efficiency — is central to reducing the built environment’s contribution to global emissions.
“It is exciting to partner with Aeris, with whom we have been successfully working together on several enterprise clients,” said Spiro Pappas, Chair of Cognian.
“This partnership with Aeris has the potential to deliver unique capabilities in terms of providing actionable data and intelligence, together with ongoing, cloud-based SaaS revenues. Importantly, the solutions are underpinned by the outstanding and proven Aeris products and Cognian technologies to drive energy efficiency and carbon emission reductions and extend the offering to many use cases globally in a new and integrated fashion.”
Why Smart Buildings Matter
Smart buildings are increasingly seen as a solution to reduce energy consumption, improve sustainability, and enhance indoor air quality. According to the International Energy Agency , buildings account for nearly 40% of global CO2 emissions, making them a key focus in the fight against climate change.
By embracing smart technologies, building operators can drastically reduce their environmental impact. Smart building solutions enable real-time data collection, providing actionable insights that can optimise energy use, reduce carbon emissions, and ensure healthier environments for occupants.
Leveraging Aeris and Cognian’s Expertise
Aeris Environmental is well-known for its environmentally friendly technology, which helps reduce energy use, improve air quality, and prolong asset lifespan. By combining their solutions with Cognian’s patented Syncromesh IoT platform, the joint venture aims to deliver building management systems. Syncromesh, a cloud-based platform, allows seamless control and monitoring of building infrastructure, providing data-driven insights for optimising energy consumption and carbon emissions.
AerisTech will initially focus on developing and commercialising these technologies to meet the growing market needs. The joint venture also gives Aeris access to Cognian’s marquee clients, such as Mirvac and Investa (Oxford Group), who are leaders in sustainable real estate management.
Additionally, the joint venture is expected to generate ongoing revenue through a Software as a Service (SaaS) model.
For the full year ended 30 June 2024 (FY24), Aeris Environmental reported $3.16 million revenue which represented a 50% increase on FY23.
The Company still incurred a $2.97 million net loss after tax but this too was a substantial improvement, up 18.6% on the FY23.
Emily Maxwell is a business writer at The Sentiment with interest in the tech, fintech and retail industries.
Latest posts by Emily Maxwell (see all)
- PainChek locks in performance data for FDA submission, aiming to befirst pain assessment app approved in US - October 3, 2024
- HeraMED eyes TGA reclassification to restore HeraBEAT device for at-home use - September 30, 2024
- ClearVue ventures into net-zero modular housing market with Prefabulous - September 27, 2024
Leave a Comment
You must be logged in to post a comment.