GWL Realty Advisors Advances its Commitment to Energy Savings
April 20, 2021
Toronto, April 20, 2021 – GWL Realty Advisors has partnered with BrainBox AI to pilot its artificial intelligence (AI) technology in one commercial building and one multi-residential building. This is the latest move in the company’s overall commitment to minimize the environmental footprint of its managed portfolio.
BrainBox AI uses deep learning, cloud-based computing, algorithms, and a proprietary process to support a 24/7 self-operating Heating, Ventilation, and Air Conditioning (HVAC) system that requires minimal human intervention and enables maximum energy efficiency.
In the 2020 pilot project, the office tower saw a preliminary reduction in energy consumption of 29% on HVAC, with an expected reduction of its carbon emissions by 218 metric tons per year. The multi-residential building saw a preliminary reduction in energy consumption on HVAC of 25%, expectedly avoiding 180 metric tons of carbon emissions per year.
“As a leading real estate advisor, we’re focused on evolving our sustainability platform to meet the demand for smarter, climate-resilient, more sustainable and healthier buildings for our tenants and residents. Innovation plays a key role in this effort,” said Glenn Way, Executive Vice President & Chief Operating Officer, GWL Realty Advisors. “We’ve seen great results in our pilot projects with BrainBox AI thus far, and are currently evaluating other assets where we can implement this technology.
One of the leading contributors of energy consumers and GHG emitters comes from buildings’ HVAC systems, accounting for 45% of commercial buildings’ energy consumption. GWLRA’s partnership with BrainBox AI aligns with the company’s commitment to environmental sustainability through innovation across its real estate portfolio.
“At BrainBox AI, we believe that supporting real estate organizations in meeting and even exceeding their energy and sustainability objectives without sacrificing financial gain is the only way we are going to make real progress towards our global carbon emission reduction goals,” said Sam Ramadori, President at BrainBox AI. “We are very grateful for early adopters such as GWL Realty Advisors that help pave the way for the real estate industry by adopting game-changing AI technologies like ours and believing in the immense value it can generate.”
GWL Realty Advisors Inc. is a leading North American real estate investment advisor providing comprehensive asset management, property management, development and specialized real estate advisory services to pension funds and institutional clients. GWL Realty Advisors Inc. manages a diverse portfolio of office, industrial, retail and multi-residential assets as well as an active pipeline of new development projects.