EcoEnergy Insights Saves Retailers Half a Billion Kilowatt Hours of Energy in 2021

EcoEnergy Insights

Provides energy management solutions for retailers to lower energy costs and reduce carbon footprint

KENNESAW, Ga., Jan. 20, 2022EcoEnergy Insights, a leading provider of Artificial Intelligence (AI) and Internet of Things (IoT) enabled services, saved its customers half a billion kilowatt hours of energy in 2021, which is equivalent to the amount of carbon sequestered by over 434 thousand acres of U.S. forests in one year. EcoEnergy Insights remotely manages over 42,000 sites and 300,000 pieces of connected equipment, enabling retailers to reduce their environmental impact and lower energy costs. EcoEnergy Insights is part of Carrier Global Corporation (NYSE: CARR), the leading global provider of healthy, safe, sustainable and intelligent building and cold chain solutions.

According to a McKinsey study, one in four consumers say they are planning to focus more on environmental issues. Retailers are responding to consumer and shareholder demand by looking for ways to lessen their environmental impact and save energy – trends that are driving EcoEnergy Insights’ continued growth. The company has made significant strides in helping retailers reduce their energy usage, helping customers save more than 4 billion kilowatt hours of energy since its creation. The company also helps them reduce costs, improve maintenance processes and customer experience.

“Energy management is the rare solution that can combine benefits of cost reduction, lower carbon footprint, better customer experience and environmental safety,” said Rajender Beniwal, General Manager, North America, EcoEnergy Insights. “Retailers have the opportunity to be more efficient with energy management without having to completely overhaul their energy resources; they can simply focus on making their current energy sources and management more efficient.”

EcoEnergy Insights worked with a big-box home improvement retailer to drive operational transformation across nearly 2,000 retail stores, helping the client consume 18% less energy compared to the baseline year. The company also enhanced customer comfort by maintaining an average of over 95% temperature compliance against policy setpoints, and managed work orders and service calls remotely, with an average of 92% resolved remotely. In addition, EcoEnergy Insights’ effective use of historical data, analytics and machine learning empowered the retailer’s facility managers to meet the capacity requirements of new operating standards during and after COVID-19 related lockdowns.

In validation of the company’s differentiated technology, in 2021 EcoEnergy Insights won the “Best Predictive Analytics Platform'' award for the CORTIX platform and the “Overall IoT Company of the Year” from Tech Breakthrough’s AI and IoT Awards programs. EcoEnergy Insights also received the “2020 Global Customer Value Leadership” award from Frost & Sullivan, illustrating the value that the company delivers to customers in the AI-driven building technologies industry.

EcoEnergy Insights continued to innovate in 2021, releasing the AI Assistant for the CORTIX™ platform, an intelligent assistant that showcases prescriptive recommendations in natural language in order to help facility managers stay ahead of maintenance and address operational problems before they occur. Looking ahead, EcoEnergy Insights will be connected to Carrier’s Abound suite of solutions for even more powerful insights to support customers’ sustainability goals in 2022 and beyond.

“We are pleased with the momentum that EcoEnergy Insights continues to see as it offers its customers differentiated energy management services harnessing the power of digital innovation," said Ajay Agrawal, Senior Vice President, Global Services, Healthy Buildings, and Strategy, Carrier. "As part of Carrier’s Abound platform, the team will be able to help more customers reduce their environmental impact and lower energy costs."

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About EcoEnergy Insights
EcoEnergy Insights is a global leader in providing AI and IoT solutions for building and equipment operations. Their CORTIX™ platform collects data from multiple sources, analyzes it, acts on defined deviations autonomously and offers predictive actionable insights and prescriptive recommendations. The award-winning platform, combined with expert human analytics, has been delivering industry-leading outcomes in comfort, maintenance and energy efficiency across multiple industries such as retail, hospitality and banking. EcoEnergy Insights is a part of Carrier, the leading global provider of healthy, safe, sustainable and intelligent building and cold chain solutions.