17.1 C
Thursday, September 21, 2023

Universal Proptech to be systems “integrator” of Strato

Universal Proptech Inc. has entered into a systems integrator agreement with Strato Automation Inc. to be an official systems integrator of Strato building automation products, systems and cloud solutions in Ontario.

Chris Hazelton, president and chief executive officer of Universal Proptech, commented, “Building automation is at the core of our business, and access to Strato intelligent building solutions enables Universal Proptech to be far more competitive in light commercial and multiunit residential buildings with immediate capabilities to integrate artificial intelligence.” Mr. Hazelton further stated, “Access to lower-cost building automation systems and installations will keep us competitive as we look to grow our market share.”

“We are very pleased to be partnering with UPI/VCI Controls, a company known to give quality value-added services with such a strong business reputation in our industry built up over many years. UPI/VCI Controls has been a pioneer and leader in the Canadian building management systems market dedicated to HVAC controls in commercial buildings,” shared Michel Lemieux, vice-president of sales and marketing at Strato Automation.

“Majority of buildings in North America are small and medium size and do not have building automation systems. Those buildings have fewer opportunities to reduce their energy spend, and Strato allows us to attack a massive underserved market with a very competitive offering,” commented Frank Carnevale, chief growth officer of Universal Proptech. “Strato is one more in a string of solutions that meet our objectives in becoming a trusted adviser for customers and delivering value across our spectrum of offerings for clients and for future acquisition targets.”

Building automation system market

The global building automation systems market size is projected to grow from $73.5-billion (U.S.) in 2021 to $112.1-billion (U.S.) by 2026; it is estimated to grow at a CAGR (compound annual growth rate) of 8.8 per cent during the forecast period. The growth of the building automation system market is fuelled by the increasing requirement of energy-efficient facilities.

Go-to-market strategy

As a non-exclusive systems integrator, the company will utilize Strato solutions to compete for the building automation systems in underserved mid-size buildings in Ontario. Mid-size buildings, light-commercial and multiunit residential buildings generally do not have building automation systems, thus are less energy efficient than large and enterprise-wide buildings. Such buildings include condominiums, hotels, seniors housing and apartment buildings. Strato solutions are more cost-effective for these customers because the systems are less expensive in products and installation versus competitors.

With Strato installations, the company has the immediate capability to utilize artificial intelligence to generate energy efficiencies in customers’ buildings.

As part of the agreement, the company must achieve a minimum number of Strato orders per year to maintain the official status. The company has already generated one proposal that, if selected, would more than meet that requirement.

About Universal Proptech Inc.

Universal Proptech is a leading building innovation company, selecting, integrating, deploying and maintaining proptech (property technology) in healthy buildings. As a trusted adviser, the company provides holistic evidence-driven solutions and services for building developers, owners and operators in Canada. The company operates through its wholly owned subsidiary, VCI Controls, a leading supplier and integrator of proptech healthy building solutions and services. VCI is an industry leader in the acquisition and deployment of intelligent building technology, including the integration of all building systems utilizing the latest in communications technologies and standards. VCI’s business focuses on digital controls and mechanical services, performance monitoring, and energy efficiency solutions.

With headquarters in Toronto, Universal Proptech has offices across Canada, including, Halifax, Montreal and Ottawa. For more information, visit the company’s website.

We seek Safe Harbor.


Click here to connect with Universal PropTech (TSXV:UPI) for an Investor Presentation.

The post Universal Proptech to be systems “integrator” of Strato appeared first on Investing News Network.

Source link

Related Articles

Latest Articles