SOURCE: Ingersoll RandDESCRIPTION:
June 11, 2019 /3BL Media/ EcoFactor, Inc.’s energy intelligence software, the leading energy management technology for the connected home, has been acquired by Trane’s Residential HVAC business. EcoFactor’s cloud-based technology will power Trane’s Nexia Intelligence platform. The solution will help further Nexia’s leadership in smart home automation by providing unique artificial intelligence (AI) capabilities for energy efficiency and HVAC fault detection.
Trane’s acquisition of the technology was based on the strength of EcoFactor’s energy savings and fault detection performance, both of which are well established in the market. Trane is a brand of Ingersoll Rand, which advances the quality of life by creating comfortable, sustainable and efficient environments. Trane’s Residential business is a leading provider of HVAC throughout North America.
“Nexia has been a leader in combining the analytical potential of the connected home with the simplicity and convenience that consumers demand, and will be able to expand the reach of the benefits of the energy intelligence software to more markets,” said Shayan Habib, CEO of EcoFactor.
“The combination of EcoFactor technology with Ingersoll Rand’s Nexia platform creates tremendous value for customers,” said George Land, general manager of digital products for Ingersoll Rand Residential HVAC. “The adaptive software adjusts thermostat to the right temperature throughout the day, saving energy, increasing home comfort, and reducing environmental impact.”
EcoFactor’s team and technology will continue to innovate in the residential Internet of Things (IoT) space, serving utility customers, energy management partners, and end users under the brand Simple.
Tweet me: EcoFactor’s cloud-based tech to power Trane’s Nexia smart home platform & provide artificial intelligence capabilities. The software adjusts thermostat to right temp throughout the day, saving energy, increasing home comfort & reducing environmental impact. http://bit.ly/2QJeWCJ
KEYWORDS: HVAC, connected home, Ingersoll Rand, NYSE:IR, Trane’s Nexia, EcoFactor