TORONTO, Oct. 04, 2018 (GLOBE NEWSWIRE) -- IBI Group (TSX:IBG), a global design and technology firm, launched BlueIQ today, an intelligent, real-time software solution that uses predictive analytics to determine the most cost effective and energy efficient way for urban water utilities to operate their water distribution systems. A proven solution, unique to the water distribution market, BlueIQ by IBI Group benefits water utilities by conserving energy and reducing operating costs, with an associated reduction in greenhouse gas emissions, while assuring the level of water quality and service to customers.
Water utilities have a mandate to provide a required level of service in delivering water to customers. Doing so in the most cost effective manner is a challenge as water distribution systems are major consumers of energy. BlueIQ addresses this challenge by optimizing pump and valve operations resulting in reduced energy consumption while providing the required level of service. This outcome is achieved through the application of predictive analytics which assist in the decision-making process with the provision of a real-time pump and valve operational plan. The realized cost savings can support innovative financing arrangements to cover implementation and system maintenance.
“This is a completely new technology package that provided a customized solution for Toronto. Combining all the real-time inputs, with an accurate calibrated hydraulic model, and generating a proven and effective advanced pump schedule has significantly reduced Toronto Water's operating costs,” said Gary Thompson, Area Supervisor Process, Operations & Maintenance, Toronto Water.
Implemented for Toronto Water – the largest water utility in Canada, and one of the largest in North America – in 2015, IBI Group’s water optimization solution is currently saving the utility more than 10 per cent in energy costs annually.
“BlueIQ by IBI Group helps water utilities answer the question of how to most efficiently operate their available assets within the required level of service. It integrates with SCADA to assist in identifying the optimal pump and valve schedule in real time to reduce overall operational costs,” said Sanjay Patel, IBI Product Lead, Water Optimization Solutions. “Using various real-time input data feeds, BlueIQ is a system-wide, non-linear formulated solution with hybrid automation, optimizing quickly enough to be used immediately, while still giving the overseeing operator decision-making control.”
“BlueIQ is an exciting product which has been in development by our Intelligence team since 2012. The newest addition to our portfolio of Smart Cities software solutions, the BlueIQ product was originally developed for Toronto Water and has had a significant impact on their overall operations,” said Scott Stewart, IBI Group CEO. “As we continue to work with cities and municipalities around the world to support the adoption of smarter and more efficient infrastructure, we see the launch of BlueIQ as an important next step in the firm’s technology-driven future.”
BlueIQ by IBI Group is part of the firm’s new Strategic Plan, A Smarter Urban Future, released in May 2018, which maps out the firm’s transformation to a technology-driven design firm, future-proofing IBI Group through four, bold, strategic streams. This plan will help the firm unlock growth in its core business through the application of productivity tools and processes developed by the firm’s own technology group. IBI Group has released a suite of new Software-as-a-Service (SaaS) products throughout 2018, creating new revenue streams throughout the lifecycle of the assets it designs. The first of these launched in March, Smart City Platform by IBI Group, and the second in June, InForm by IBI Group. BlueIQ is the third of these products.
For more information on BlueIQ by IBI Group, visit our website, or to speak with an IBI Group professional, please contact Julia Harper at Julia.harper@ibigroup.com or 647-330-4706.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
Certain statements in this news release may constitute “forward-looking” statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company and its subsidiary entities, including IBI Group Partnership or the industry in which they operate, to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. When used in this news release, such statements use words such as “may”, “will”, “expect”, “believe”, “plan” and other similar terminology. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this news release. These forward-looking statements involve a number of risks and uncertainties.
These risk factors are discussed in detail under the heading “Risk Factors” in the Company’s Annual Information Form for the year ended December 31, 2018. New risk factors may arise from time to time and it is not possible for management of the Company to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance or achievements of the Company to be materially different from those contained in forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as at October 4, 2018. The Company updates these assumptions at each reporting period and adjusts its forward-looking information as necessary.
About IBI Group
IBI Group Inc. (TSX:IBG) is a globally integrated architecture, planning, engineering, and technology firm with over 2,700 professionals around the world. For more than 40 years, its dedicated professionals have helped clients create livable, sustainable, and advanced urban environments. IBI Group believes that cities must be designed with intelligent systems, sustainable buildings, efficient infrastructure, and a human touch. IBI Group is a lead partner of the Smart Cities Council North America. Follow us on Twitter @ibigroup and Instagram @ibi_group.
Media Contact:
Julia Harper, IBI Group
julia.harper@ibigroup.com
1-416-596-1930 ext. 61187
or 1-647-330-4706