TORONTO--(BUSINESS WIRE)--BrainBox AI, a pioneering leader in autonomous building technology, today announced that it has partnered with GWL Realty Advisors (GWLRA) to pilot its artificial intelligence (AI) technology in two of the company’s managed properties in downtown Toronto. The pilot project saw the installation of BrainBox AI in a commercial office building and a multi-residential building.
BrainBox AI uses deep learning, cloud-based computing, algorithms, and a proprietary process to support a 24/7 self-operating Heating, Ventilation, and Air Conditioning (HVAC) system that requires minimal human intervention and enables maximum energy efficiency.
In the 2020 pilot project, the office tower saw a preliminary reduction in energy consumption of 29% on HVAC, with an expected reduction of its carbon emissions by 218 metric tons per year. The multi-residential building saw a preliminary reduction in energy consumption on HVAC of 25%, expectedly avoiding 180 metric tons of carbon emissions per year.
“At BrainBox AI, we believe that supporting real estate organizations in meeting and even exceeding their energy and sustainability objectives without sacrificing financial gain is the only way we are going to make real progress towards our global carbon emission reduction goals,” said Sam Ramadori, President at BrainBox AI. “We are very grateful for early adopters such as GWL Realty Advisors that help pave the way for the real estate industry by adopting game-changing AI technologies like ours and believing in the immense value it can generate.”
Accounting for 45% of buildings’ energy consumption, HVAC systems are one of commercial real estate’s leading contributors to energy usage and GHG emissions. GWLRA’s partnership with BrainBox AI aligns with the company’s commitment to environmental sustainability through innovation across its real estate portfolio.
“As a leading real estate advisor, we’re focused on evolving our sustainability platform to meet the demand for smarter, climate-resilient, more sustainable and healthier buildings for our tenants and residents. Innovation plays a key role in this effort,” said Glenn Way, Executive Vice President & Chief Operating Officer, GWL Realty Advisors. “We’ve seen great results in our pilot projects with BrainBox AI thus far, and are currently evaluating other assets where we can implement this technology.”
BrainBox AI’s technology is currently impacting over 100,000,000 sq. ft. of real estate across 16 countries and was recognized by TIME in 2020 as one of the top 100 best inventions of the year.
To learn more about BrainBox AI’s technology, visit our website.
About BrainBox AI
BrainBox AI was created in 2017 with the goal of redefining building automation through artificial intelligence to be at the forefront of a green building revolution. Headquartered in Montreal, a global AI hub, BrainBox AI has a workforce of over 90 employees and supports real estate clients in numerous sectors, including office buildings, airports, hotels, multi-residential, long-term care facilities, grocery stores and commercial retail.
BrainBox AI is one of TIME' s Best Inventions of 2020 and works in collaboration with research partners including the US Department of Energy’s National Renewable Energy Laboratory (NREL), the Institute for Data Valorization (IVADO) as well as educational institutions including Montreal’s École de technologie supérieure (ETS) and McGill University. Learn more about BrainBox AI.
About GWL Realty Advisors
GWL Realty Advisors Inc. is a leading North American real estate investment advisor providing comprehensive asset management, property management, development and specialized real estate advisory services to pension funds and institutional clients. GWL Realty Advisors Inc. manages a diverse portfolio of office, industrial, retail and multi-residential assets as well as an active pipeline of new development projects. In the United States, the Company provides real estate advisory services through its wholly owned subsidiary, EverWest Real Estate Investors, headquartered in Denver, Colorado.