Associate Director Matt Challinor manages our Energy team here at CrimsonXT, and has a wealth of experience recruiting across the industry. Putting his industry expertise to use, he recently produced The Energy Brief – a bi-weekly news roundup, that explores the latest funding, collaborations, product updates and funding news from cutting-edge building automation, HVAC and cleantech companies across the US, Europe and APAC. In this blog, we’ll explore the latest news for the month of October.

 

 

Throughout October, there have been several key trends driving the smart building & cleantech sectors, with leading companies like Siemens, Honeywell, and Schneider Electric at the forefront of the developments. In this edition, I’ll take a look into the latest developments, from key funding rounds and strategic collaborations to product launches that are shaping the industry’s future.

Each bi-weekly newsletter will also feature a special ‘Spotlight’ segment, where I highlight a company making notable strides—whether it’s a startup securing significant investment or an industry leader driving sustainable change. This month, the spotlight shines on Redaptive, Inc, a company making energy efficiency more accessible through its innovative Energy-as-a-Service model.

 

Redaptive

Founded in 2015 and headquartered in Denver, Colorado, Redaptive is an Energy-as-a-Service provider that funds and installs energy-saving and energy-generating equipment. Their approach allows building owners to adopt sustainable technologies without upfront costs, making energy efficiency more accessible. This month, the team have continued to expand their market reach with significant investment. The team’s ability to deliver scalable solutions across various building types makes them a great partner for companies looking to reduce carbon footprints and energy costs. Their innovative business model and recent successes highlight their potential for continued growth in the market.

 

Events

October saw the Smart Buildings Show which served as a pivotal platform for companies to introduce the latest innovations in building technology. Giants Siemens, Schneider Electric, and ABB were among some of the major exhibitors demonstrating new solutions for enhancing building efficiency and sustainability at the event. Siemens’ Building X and Schneider’s EcoStruxure platforms were also showcased.

 

Collaborations & partnerships

FSG Smart Buildings and Distech Controls collaborated to set new standards in sustainability, efficiency, and innovation within the market. This partnership isn’t just about adopting greener practices—it’s about designing systems that meet evolving regulatory demands and consumer expectations.

 

clean tech

 

Celebrations

Senior Research Engineer at NREL, Grant Wheeler, started out certifying sound levels for bathroom fans and range hoods. This month, he’s been included in the Top 40 under 40 HVCR professionals list.

Siemens has appointed Susanne Seitz as CEO of the Buildings Business Unit, which is part of Smart Infrastructure. The unit is a newly formed business unit which brings together all Siemens’ buildings-related businesses into one entity, effective from the beginning of October.

 

Tech and product updates

Schneider Electric has introduced a new Building Decarbonization Calculator to help building owners and operators assess energy and carbon conservation measures (ECCMs) for compliance and cost savings.

UnaBiz has introduced a suite of smart building solutions, including fan coil unit (FCU) monitoring, energy monitoring, and occupancy counting, aimed at optimizing facilities management and enhancing sustainability reporting.

EcoEnergy Insights rebrands in the market as Carrier Abound.

Johnson Controls has released Metasys 14.0, an updated version of its Building Automation System (BAS), enhancing energy management, network efficiency, and security for commercial buildings. The team also continues to push forward with its smart building solutions, integrating AI-powered HVAC systems to optimize energy usage and reduce carbon footprints. The company’s OpenBlue platform now includes advanced analytics for predictive maintenance, allowing building managers to foresee and address potential system failures before they occur.

Carrier has made strides this month in heat pump technology, emphasizing high-efficiency models to meet the growing demand for energy-efficient climate control. Their latest model, part of the Infinity line, features advanced hybrid technology, which switches between electric and gas power based on weather conditions, significantly lowering emissions.

Siemens Gamesa has won a deal to supply 15MW turbines to Equinor’s 750MW Bandibuli (Firefly) floating wind farm off South Korea. Siemens also launched an intelligent link module to boost industrial automation data transparency. The plug-and-play expansion module combines IT and OT with minimal installation and commissioning effort. This means that the data available at the load feeders can be used efficiently.

October saw an increased focus on cloud-based platforms, with Honeywell’s Digital Prime standing out for its digital twin technology.

 

Funding

 

§ Neeve, a cloud Platform-as-a-Service provider for smart buildings, secured $15 million in funding to drive global expansion and support digital transformation in commercial real estate.

§ David Energy raised an extension to its series A, at $23 million led by Cathay Innovation with participation from USV, Keyframe Capital , Equal Ventures , and BoxGroup.

§ Dandelion Energy closed a $40M Series C funding to expand its geothermal heat pump technology nationwide, targeting both homeowners and large-scale multifamily developers.

§ Wattnow, a Tunisia-based cleantech company, has successfully closed a multi-million-dollar funding round.

§ German startup Purpose Green has raised $15 million in a seed round led by Fifth Wall to fund green-energy retrofits for multi-unit residential and commercial buildings.

§ Fixform has raised €1.5 million in funding from investors to expand its building management platform into new markets like the Netherlands, the UK, and the Nordics.

§ Smart thermostat maker Mysa secured $11 million in additional funding as part of its $20.3 million Series B round from 2021.

§ Estonian smart building startup Bisly – Scalable Building Automation has raised €6.2M in a Series A round to expand its energy-saving platform across Europe.

§ Elum Energy has raised $13 million in Series B funding, led by Energize Capital with participation from Alter Equity and Cota Capital.

§ King Energy, which deploys solar in multi-tenant commercial buildings, raised $10M, led by ArcTern Ventures and other investors.

§ Energy Impact Partners hauls in $1bn for its new growth fund.

§ Five Point Energy racks up $1.4bn for fourth fund.

Throughout the rest of 2024, it’s clear that these markets are poised for significant growth. The tightening of regulations around sustainability, increased investment in energy-efficient technologies, and a surge in smart infrastructure projects are key trends being pushed over the next couple of months as these companies race to meet year-end ESG targets.

For those looking for new opportunities, this means we’ll likely see a demand for talent in energy management, building automation, and digital transformation, particularly roles like IoT Engineers, Sustainability Managers, and Project Managers specializing in energy efficiency.

Look out for my next edition in just two weeks.

 

 

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