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ENERIQS

Israel
Market: Artificial Intelligence
Stage of the project: Operating business

Date of last change: 18.12.2022
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Idea

Eneriqs is a cloud-based software SaaS company that has developed a unique algorithm for optimizing the efficiency of industrial chillers, which minimizes cooling expenses while maximizing air comfort

Current Status

So far we have completed the following strategic milestones:
Italy: A2A (€7 Bi Rev) Pilot & Distribution Agreement
Israel: 3 paid POC with strategic distributors (Tadiran (€ Bi Rev’), Afcon (€2.1 Bi rev’), Big
Greece: Trane - Distribution agreement – POC at HQ Building in Process
Cosmote (OTE) (€800M Rev’) - Distribution agreement process –POC HQ Building
Sri Lanka: Orel Corporation – distribution agreement process – 3 global hotels agreement
U.S (Florida): United Mechanical (BMS Company) - Contractor/ Distributor agreement process

Problem or Opportunity

Large commercial buildings rely on HVAC Systems to heat and cool their facilities, and over 40% of the yearly energy consumption is for cooling. 35% of the energy is actually wasted due to operating at maximum power output even when not needed, while comfortable indoor temperatures can be maintained with less power effort by the chillers.
Industrial Air Conditioning faces 3 main issues:
1. Economical - A large portion of the money is spent on wasted energy
2. Operational - Chillers maintenance is complex due to machinery malfunctions and continuous breakdown
3. Air comfort

Solution (product or service)

Eneriqs has developed a unique algorithm for optimizing the efficiency of industrial chillers - minimizing cooling expenses while maximizing air comfort. Our product proactively manages the chillers and their performance, using AI and IoT to collect data samples of external and internal temperatures and efficiently deploy the right energy to cool the buildings.

Business model

Eneriqs offers its products in the SAAS B2B/B2C model, marketing directly to end-customers (first circle) or through local channels or distributors as well (second circle). A third circle is represented by Building Management System solutions, which could adopt ChillerAI to upsell their current customer network.
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