In a recent television interview with Bloomberg, Verdigris CEO and co-founder, Mark Chung took an opportunity to explain how his company's new and innovating product is helping factories and manufacturing facilities across the Country identify energy and maintenance savings opportunities that they otherwise would not have been alerted to.
Mr. Chung explained that their IoT Energy Meter allows plant and facility managers to track their energy consumption with Smart Sensors. These Smart Sensors have the ability to identify granular data that can be linked to performance inefficiencies in their company's expensive machinery.
Through metering energy data, Verdigris has been able to identify granular data which can signify abnormal conditions in energy consumption.
Verdigris' software alerts plant managers to lighting inefficiencies, the need for calibration of their Building Management Systems or their HVAC systems and also has the ability to identify plant equipment that is running abnormally.
Mr. Chung said in his interview with Bloomberg that most of Verdigris' users spend, "typically, between $3 - $5 per SqFt. annually on their energy spend. We're aiming to put about $1 back in their pockets, roughly, at a cost of about $0.12 annually."
Verdigris delivers a quick ROI that is sustainable over time.
Some of Verdigris' largest users have seen upwards of 40% of their energy spend reduced.
Verdigris produces data that helps the facilities manage their energy better.
Verdigris has been developing their Smart Sensor since 2013. They are currently on their 5th generation of sensor.
The developments in their sensor technology has primarily come through studying different applications of artificial intelligence (AI)