As a typical facility can waste 30% of the energy it consumes or more due to lack of optimization, EOS Labs, a utility financial intelligence and technology company, launched in July to help building managers ensure facilities are operating at optimum levels.
The demand for determining where buildings can cut energy costs has increased in recent months, due to the COVID-19 crisis and resulting financial downturn—and a spotlight has been placed on this issue as buildings were left partially empty for months and were not energy optimized. EOS Labs is positioned to solve this challenge and assist facility managers in delivering both immediate and long-term cost savings strategies.
In addition to automating and centralizing utility data, EOS Labs’ Utility Financial Intelligence (UFIQ™) platform uses AI and advanced analytics to further analyze smart meter and interval utility data, define anomalies wasting energy, and deliver actionable insights to support decisive action for facility managers across vertical industries. These financial insights are adjusted for weather, occupancy, and specific building consumption variables, helping organizations to eliminate energy waste without costly building upgrades, as well as increase savings.
The UFIQ data intelligence engine supports a host of programs at the utility side and customer side of the meter. It gathers seemingly useless, inactionable AMI interval data and provides meaning and context specific to each building by applying remote intelligence and linking meter data to load operations.
The platform’s added value is providing an intelligence powered decision center that hosts all data related to utilities and energy, such as billing itemized data, weather, building and business operational data, and more.
“Today, building managers across vertical markets are inundated with data, and many technology tools available actually hurt operational efficiencies by raising unnecessary alarms that slow cost-saving decisions,” said Sal Alhelo, Founder and CEO. “Currently, when building managers receive an alarm or alert from their BMS or utility management software, those alarms are treated at the same level of urgency, which doesn’t allow for focusing on the alarms that have the most impact on an organization’s bottom line. This is a continual challenge for facilities managers and one we are looking forward to helping them solve.”
How it Works
With a focus on increasing efficiencies for facilities across Education, Healthcare, Banking, Hospitality, Retail, Fitness, and other markets, EOS Labs takes the data points that directly impact a company’s bottom line and prioritizes those data points to determine which alarms require immediate action.
Data collected by EOS Labs is presented to building facility managers via dashboards containing simplified and actionable financial insights and custom alerts. EOS Labs automates the majority of the analysis as well as the review process, providing customers with easy to digest insights built on the customers’ priorities and goals. EOS Labs presents any alarming data, enabling immediate action, providing how long an issue has been in effect along with the associated costs.
For buildings with existing IoT-enabled building management systems (BMS), UFIQ provides an added element of financial intelligence. To elevate the existing platform, UFIQ eliminates the critical and costly blind spot in energy management that typical fault detection algorithms might miss.
“During emergencies like the COVID-19 pandemic, it is more important than ever to be able to quickly manage utilities effectively and oversee usage across facilities,” added Alhelo. “The extra layer of visibility ensures building managers can minimize energy consumption of assets.”
UFIQ provides that visibility to the entire building’s energy financial performance in alignment with the International Performance Measurement and Verification Protocol (IPMVP) and equips managers with the financially sound guidance they need to operate and adjust BMS to achieve optimal energy savings.