Smart Buildings

Simpple IPO & Facilities Management Business Examined

May 30th, 2023

Why is SECOM Investing in Eagle Eye Networks & Brivo?

May 29th, 2023
Building Efficiency USA European Union

US & EU Tackle Building Efficiency with Significant Policy Developments

In the wake of the pandemic, the environmental movement keeps gaining momentum on the geopolitical stage. This month, the US General Services Administration (GSA) took a big step forward in its National Deep Energy Retrofit Program, issuing its largest-ever notice of opportunity by redirecting funds from the Inflation Reduction Act for a series of projects across five states and the District of Columbia. These initiatives are part of a broader strategy designed to help meet President Biden’s climate targets, specifically the goal of achieving net-zero emissions across all federal buildings by 2045. The GSA, managing an extensive real estate portfolio of nearly 370 million rentable square feet across the nation, plays a pivotal role in its success. Alongside managing this significant property portfolio, the GSA also oversees ~$75 billion in annual contracts and provides technology services to a wide array of federal agencies, reaching millions of citizens. “This historic call for proposals is another example […]

JLL Workplace Technologies Examined
Smart Buildings

JLL Workplace Management & Technologies Business 2022 Financials Examined

This Research Note examines two businesses within JLL which offer technical operations and maintenance (O&M) solutions and services for commercial real estate – JLL Workplace Management and JLL Technologies. This article is based on JLL’s 2022 Annual Report, their 2022 investor briefing and transcript and previous Memoori analysis on the company’s technology strategy in the smart commercial buildings space. JLL is one of the largest real estate service providers in the world, with 2022 consolidated revenue of $20.9 billion (+11% versus prior year) and fee revenue rising 7% year-on-year to $8.3 billion. The group has operations in over 80 countries and a global workforce of more than 103,000. JLL Annual Report 2022 JLL Workplace Management (WPM) JLL Workplace Management business, one of 3 divisions in the Work Dynamics segment, provides comprehensive facility management services globally to corporations and institutions that outsource the management of the real estate they occupy, typically those with large multi-market portfolios […]

Smart Buildings Chain
Smart Buildings

Breaking the Shackles: Overcoming Resistance to Change in Smart Buildings

The commercial building industry has been notoriously slow in its adoption of new smart buildings technologies, struggling with a deep-seated inertia that has seen innovation lag other market verticals. Bound by the shackles of long-established practices and the burden of decades-old infrastructure and systems, it remains highly resistant to disruption. Complex supply chains, entrenched ecosystems, and convoluted design and procurement processes, seemingly set in stone, further deter market disruptors. With a mindset deeply rooted in the adage “If it ain’t broke, don’t fix it,” breaking free from these shackles presents a significant challenge. As part of our recent research into the Building Internet of Things, we’ll explore this resistance and propose ways the industry can start to overcome these traditional barriers. Capital Investment & Risk Aversion To start, let’s consider the significant role of capital investment. Traditional building systems, such as HVAC, lighting, and security systems, represent a considerable sunk cost for building owners and […]

Ameresco Solar Energy Europe

Ameresco Energy Services Business & Expansion Strategy Examined

Ameresco, the US-listed cleantech integrator held its 2023 Investor Day in London, UK on 11th May 2023. In this Research Note, we examine Ameresco’s strategy and growth opportunities in Europe based on the webcast and Q&A sessions of the event, together with presentations and press releases over the past year. Founded in 2000, Ameresco, Inc. is ranked as the number one energy services player in the USA with $1.8 billion revenues in 2022. Their comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to clients throughout North America and Europe. Ameresco’s sustainability services in support of clients’ pursuit of Net Zero include upgrades to a facility’s energy infrastructure and the development, construction, and operation of distributed energy resources. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,300 employees providing local expertise in the United States, Canada and Europe. Ameresco’s energy services business reduces energy consumption and costs […]

PropTech Startups Value Money
Smart Buildings

Time For PropTech Startups to Demonstrate Their Value!

“We have just lived through a decade of historically low-interest rates, which has now all but come to a stop. While this has broad sweeping impacts for the economy at large, for venture capitalists this has dramatically increased the opportunity cost of capital for general partners,” says Mike McAra, director at Second Century Ventures and NAR REACH Canada. “On a risk-adjusted basis, the hurdle rate for investment is much higher now than just six months ago, and thus capital is being allocated much more diligently and much slower.” Commercial real estate is going through a tough time in the wake of the pandemic and as economic clouds loom on the horizon. Soaring interest rates and low vacancy levels are forcing real estate firms to streamline expenses by cutting out any non-essential spending, which has left a wide range of proptech technologies on the wrong side of the budgeting discussion. The “nice to have” products and […]

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