HONOLULU--(BUSINESS WIRE)--A&B Properties, Inc. (ABP), a wholly owned subsidiary of Alexander & Baldwin, Inc. (NYSE:ALEX), has partnered with Carbon Lighthouse, an energy services company, to implement a two-month pilot to identify energy efficiency initiatives for its commercial assets in Hawaii. The program was launched this week at two properties on Oahu—Pearl Highlands Center and Kaka`ako Commerce Center—and the Kahului Office Building on Maui. These properties were identified as the highest energy demands within ABP’s Hawaii commercial portfolio.
“Energy efficiency is a priority for A&B,” said Kit Millan, ABP vice president, asset management. “The program is a winning proposition: if successful, not only will we realize operational and financial efficiencies that will be shared with tenants, but we will contribute to broader sustainability efforts, which is of benefit to the environment and the community.”
Using its proprietary energy optimization technology, CLUES™, Carbon Lighthouse engineers will deploy hundreds of sensors throughout the three properties to collect new data related to airflow, water, lighting, and cooling usage, and will also identify on-site renewable energy opportunities. Using these key metrics, Carbon Lighthouse will model hundreds of energy scenarios to arrive at a proposal to make most efficient use of energy at the properties. Based on the success of the trial, ABP expects to expand the program to its other commercial properties.
“We’re excited to be working with A&B Properties to find ways to reduce energy usage at their properties,” said Brenden Millstein, CEO. “Our engineers will apply CLUES™, our proprietary energy optimization technology, to run a data-driven process to pinpoint the highest impact energy solution for A&B Properties and its stakeholders.”
ABOUT A&B PROPERTIES
A&B Properties is the real estate subsidiary of Alexander & Baldwin, Inc., Hawaii's fourth largest private landowner, holding nearly 88,000 acres primarily on the islands of Maui and Kauai. A&B Properties' diverse real estate holdings include projects on Oahu, Maui, Kauai and the Big Island and a commercial property/investment portfolio that consists of 4.6 million square feet of retail, office and industrial space comprising 56 properties located in Hawaii and on the U.S. Mainland. Additional information may be found at A&B Properties' website, www.abprop.com.
ABOUT CARBON LIGHTHOUSE
Carbon Lighthouse provides an actively managed energy service that reduces energy consumption and leverages renewable power to deliver a guaranteed revenue stream for commercial, industrial and educational real estate owners. Established in 2010, the company has served over 450 buildings, cutting the carbon emissions equivalent to three power plants and delivering an average financial return of 14%. Using its proprietary energy optimization technology, CLUES™, its engineers analyze new sources of data to uncover hidden inefficiencies and deliver the most profitable solution for each unique building.
Carbon Lighthouse is supported by the Energy Excelerator, a program dedicated to solving the world's energy challenges and funded by the U.S. Department of Energy and the U.S. Office of Naval Research. The Energy Excelerator provides funding, strategic relationships, and a vibrant group of partners in support of Carbon Lighthouse. Please visit http://www.carbonlighthouse.com.
Statements in this press release that are not historical facts are "forward-looking statements "within the meaning of the Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statement. These forward-looking statements are not guarantees of future performance. This release should be read in conjunction with pages17-29 of Alexander & Baldwin, Inc.’s 2015 Form 10-K and other filings with the SEC through the date of this release, which identify important factors that could affect the forward-looking statements in this release. We do not undertake any obligation to update our forward-looking statements.