Leading Building Performance PropTech Company, SensorSuite Inc., Closes Growth Capital from BDC
Updated: Nov 16, 2020
FOR IMMEDIATE RELEASE
Toronto, Ontario — November 11, 2020 — SensorSuite Inc. (“SensorSuite”) is pleased to announce that it has closed a debt note from Business Development Bank of Canada (“BDC”) and Greensoil Building Investment Fund (“GBIF”) to be used as Growth Capital over the next 18 months.
SensorSuite is delivering intelligent energy load and supply management systems for its growing number of customers across North America. Through its energy management and cloud analytics platform, SensorSuite empowers executives and managers with a toolset designed to move beyond the world of energy efficiency and into the realm of energy productivity and monetization.
American and Canadian markets are seeing significant growth from the digitization of building systems enabling the optimization, control, and aggregation of Distributed Energy Resources (“DERs”). The confluence of the growth of property technology (PropTech) and alternative energy industries is driving the energy transformation towards a highly efficient, customer- centric model capable of competing head on with traditional upstream generation and distribution assets.
Currently, SensorSuite has installed its intelligent load and supply management systems in over 171 buildings with over 25MW of peak load under control.
“We’re preparing for a new energy reality,” stated Glen Spry, President & CEO of SensorSuite. “Not only are we generating tremendous energy efficiency savings for our customers, but our systems simultaneously aggregate and control enterprise portfolios unlocking deeper cost savings while creating additional revenues in DER markets as they come on-line across North America.”
“As a strategic investor in SensorSuite, we see the digitization changes occurring in real estate match our current capabilities, and we’re excited to scale our growth in this perfect storm of factors,” commented Jamie James, Managing Director, Greensoil Building Innovation Fund.
About SensorSuite Inc.
SensorSuite, a leading energy management PropTech company, delivers building performance for small and medium sized buildings. Through load and supply management systems, SensorSuite improves building performance and enables energy as an asset. www.sensorsuite.com
President & CEO