Toronto-based real-estate firm Menkes Developments and industrial electronics giant Honeywell have announced a deal that will see the two combine Internet of Things sensors and cloud services to reduce energy and operational costs at one of the real-estate firm’s properties.
The companies will initially deploy a smart facilities system designed by Honeywell at the Telus Tower in Toronto, as well as a cloud-based analytics platform used to monitor and analyse facility performance data and offer recommendations to improve operations.
“We are committed to pushing the boundaries of smart buildings, identifying new methods to leverage connectivity and improve our facilities,” said Sonya Buikema, vice president, commercial property management, Menkes.
“Honeywell’s technology and services complement our philosophy, and expand the ways in which we’re able to drive performance and better serve our customers,” Buikema said.
The companies said they want to use the technologies to explore new opportunities for improving efficiency and environmental impact.
“Even the most advanced facilities will experience a gradual decrease in performance over time, and it can be difficult to identify and address those issues before they negatively impact the bottom line,” said John Rajchert, president of Honeywell Building Solutions. “Honeywell has the tools and expertise to make it easier for companies to not only know what is happening in their facilities, but to also take the appropriate actions to keep them operating at a high level.”
While facilities automation has been around for some time now only recently have vendors like Honeywell begun selling insights-as-a-service through various cloud-based analytics platforms.
Facilities, particularly mixed use spaces, are very complex to manage and often include a range of different systems (i.e. motion sensors, temperature control, air filtration, lighting, security systems, etc.), so it’s likely squeezing out any operational improvements or insights through the growing interconnection between these various technologies and services will play a big role in real-estate moving forward.