Autodesk also Leads Financing Round with Investment in Panoramic Power
NEW YORK, December 1, 2014 - Panoramic Power, the leading provider of wireless, self-powered device-level energy management solutions, announced today that it is collaborating with Autodesk, a global leader in 3D design and simulation software, on joint product development that combines Panoramic Power’s device-level energy platform with Autodesk’s cloud-based Building Information Modeling (BIM) portfolio. Autodesk has also made a strategic investment in Panoramic Power, leading an investment round that includes participation from existing investors totaling $7 million.
An increasing number of firms are shifting to centralized global energy management strategies and are placing energy data management as a strategic asset with across-the-board company objectives. The technology collaboration between Panoramic Power and Autodesk will allow customers to reduce operational costs by improving asset utilization, identifying operational inefficiencies in their sites and equipment, and shifting from reactive to predictive maintenance. These advanced capabilities go beyond the building design and construction phase – utilizing Panoramic Power’s cloud-based analytics engine to detect anomalies in energy usage and alert the facilities team about excess energy consumption or issues that could lead to equipment failures. Energy efficiency reports with detailed recommendations help minimize peak loads, benchmark equipment to identify operational inefficiencies, verify the expected ROI from investment in new equipment and drive behavior change by tenants.
“Forward-thinking commercial and industrial building owners and operators are beginning to think and act proactively to effectively manage their facilities and systems. We’re very excited to join with Panoramic Power and collaborate to develop solutions that leverage BIM and will help maximize building performance,” said Amar Hanspal, Autodesk SVP of Information Modeling and Platform Products.
“Through our collaboration with Autodesk, we will deliver solutions that define a new way of proactively managing facility operations,” said Yaniv Vardi, CEO at Panoramic Power. “As the leading software company in the building industry, we are pleased by Autodesk’s vote of confidence in our ability to deliver scalable solutions that will enable customers to optimize energy consumption to improve facility and systems operations.”
About Panoramic Power
Panoramic Power, the leading provider of device level energy management solution, enables businesses to optimize their energy consumption and improve system level performance and facility operations. Using an affordable real-time wireless sensor technology and a cloud-base analytics solution, companies across a wide range of industries gain critical and continuous insights into their energy usage and are able to optimize operations, processes and maintenance resources.
For more information, visit www.panpwr.com