Please see below for the Dynamo Energy Hub Newsletter August Member Spotlight featuring buildee.
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Tell us about simuwatt/buildee in 3 sentences or less.
buildee® is a SaaS-based energy efficiency platform used to easily analyze, benchmark, and prioritize energy saving and decarbonization opportunities more quickly, less expensively, and with better results for commercial and multi-family portfolio owners. buildee® makes ESG and compliance reporting actionable by streamlining data collection of energy consuming equipment without costly control or monitoring systems, and leveraging our recommendation engine to identify and prioritize energy efficiency opportunities based on key financial and carbon reduction metrics. The result is a holistic portfolio-wide and building level view to property owners and managers that assist in coordinated collaboration on efficiency opportunities that improve NOI and building value while reducing carbon emissions.
What is simuwatt/buildee’s role in the energy transition and how are you unique in the sector?
buildee is particularly unique in the sector as we support the built environment (e.g. commercial, multi-family) by aggregating energy use data in a more cost effective manner without costly monitoring or sensor equipment. We also support customers in rapidly identifying and prioritizing those activities which will have the greatest impact on carbon emissions or energy savings, in turn effecting their Net Operating Income and building value.
Energy efficiency provides a more timely and less costly impact on energy use and decarbonization by delivering “Negawatts” while working in parallel to the longer development cycle times needed to deliver the “Megawatts” (e.g. solar, wind) that will also support the energy transition. 40% of all emissions come from the built environment with up to 60-70% coming from cities alone. Streamlining the path to energy efficiency retrofits to address these emissions is what buildee does.
We like to say that we help make ESG actionable.
What are the macro trends currently affecting you?
The IPCC report that profiles a “now or never” moment is driving concern over carbon emissions at global, federal, state, and local levels – and subsequently driving policy changes to impact those emissions. That policy is bringing increased focus to the need for faster and more cost-effective solutions which drive energy savings and carbon reduction
The movement towards Local Compliance building performance standards – with now 44+ cities and 3 entire states implementing such programs – that require building owners to benchmark and comply with carbon emission goals, and fines for non-compliance, are driving increased demand and interest in solutions like buildee that make energy efficiency easy.
Corporate attention to ESG and sustainability is now migrating companies from just reporting to acting upon ESG priorities. buildee focuses delivering on the E in ESG. Building owners are seeing a change in tenants with an increased interest in more sustainable and “healthier” buildings. Equally, building owners are beginning to hear the term “ESG Obsolescence” referring to buildings that are not sustainable and subsequently see higher vacancy rates, lower rental rates, and lower building values. buildee helps these owners counter these trends by identifying and prioritizing those actions that will most impact sustainability, lower energy spend, and increase net operating income and building value for owners and managers of large building portfolios.
What are the most recent updates from buildee and what does 2022 have in store for you?
2022 has been an exciting year for us. We had a new CEO, Bryan Conklin, take the helm in March. Bryan brings an extensive background in the renewable, energy storage, and energy efficiency space, as well as a skill set closely aligned with the growth focus of buildee.
We are continuing to expand among our existing customer base while also breaking into new segments. Over the last year we have seen increased activity with the utilities, municipalities, and energy efficiency trades/consultants and are expanding into the building portfolio owner market with a strong history of success and compelling value proposition.
Just recently we kicked off a capital raise and are focused on closing the round prior to the end of the year. Doing so will allow us to support our expanding business development team, increase marketing activities, and continue to build and enhance the software tools that will benefit our customers on their path to improved energy efficiency.
Very shortly we will be announcing a new enhancement to the platform – our Strategic Energy Management module – which will further support customers on planning and tracking their multi-year energy efficiency and carbon reduction journey to ensure they hit stated objectives and compliance
Finally, buildee is starting to move into international markets with strong interest being shown by Canadian prospects
Why did you decide to join Dynamo? What aspect of your membership are you happiest with?
Overall, we believe being involved with Dynamo Energy Hub will lead to more broad business opportunities and collaborations that will have positive impacts on our business. When joining we wanted to expand our network of like-minded companies, investors, etc. that are equally as focused on being positive environmental stewards.
We are proud to say we have already seen the benefit of these connections. For instance, we are already working towards a collaboration with the ESG Transition Company, who we only recently met at the Dynamo Energy Hub event in NYC. Furthermore, connections made at the Colorado Dynamo Energy Hub event – where we met the Governor of CO, Jared Polis, and his climate lead, Mark Silberg, has enabled us to learn more about market needs and begin to engage in support of the states goals and implementation.