CMT INVESTMENT WINS STARTUP AWARD
The accolade was presented to CEO David Walsh for the ACE Platform technology that has been delivering industry-leading energy, maintenance and operational cost savings for property owners. “Winning this award is recognition for each member of the CIM Enviro team as it is their passion for innovation that is fuelling our growth and delivering these successes,” said Mr Walsh.
CIM Enviro’s ACE system harvests data from building equipment like pumps, fans and air conditioners using off-the-shelf industrial IoT hardware, then uses big data processing and machine learning algorithms to detect faults and inefficiencies that are wasting energy.
Capital Markets Technologies (CMT) invested “Series A” funding into the new startup in March this year. Professor Michael Aitken AM, CEO of CMCRC says of the win, “Early tests of the ACE system on commercial buildings promise savings of between 15-25%. If this translates to all commercial buildings (something we are working on together) we are talking savings of between 1% and 2% of the entire grid. That is what excites us about our investment in CIM.” Professor Aitken was the winner of the Prime Minister’s Prize for Innovation in Science in 2016.
Capital Markets Technologies is the investment arm of CMCRC who invest in start-up and emerging growth venture investments in private financial or health technology companies in Australia and overseas.
CIM ENVIRO CEO David Walsh collecting the Startup Award at the Irish Australian Business Awards 2017