NEW YORK, April 26, 2022 (GLOBE NEWSWIRE) -- BrainBox AI, a pioneer in autonomous artificial intelligence, today announces its agreement with Mountain Development Corp. to bring its cutting-edge technology to two office buildings in New Jersey. BrainBox AI’s technology will manage the HVAC controls of 140,000 sq. ft for the real estate company, making the buildings smarter and greener while improving tenant comfort.
Mountain Development Corp., a leader in Class A office properties, is a full-service real estate company and is renown in the New Jersey commercial real estate circle. In early 2021, BrainBox AI’s technology was installed at 26 Main St in Chatham, New Jersey, a 65,000 sq. ft. premium office space and 777 Passaic Avenue, a 75,000 sq. ft. Class A building in Clifton, New Jersey. Initial results have shown meaningful energy savings and operating cost reductions.
“Our goal is to make a tangible impact on the commercial real estate industry while mitigating the impact of buildings on climate change,” said Sam Ramadori, Chief Executive Officer of BrainBox AI. “Our technology enables building owners and operators to save money and the environment simultaneously, a win-win solution for all. We are excited to work with one of the biggest players in New Jersey’s real estate industry to make buildings more intelligent and save Mountain Development Corp. money both in the short and long term.”
BrainBox AI creates value with savings in energy costs of up to 25%, up to 40% reduction in carbon footprint and improved occupant comfort. Building operators can also see an extension in the service life of the HVAC equipment with lower runtimes up to 50%. Its scalability and ease of implementation allow for both individual building and portfolio-wide impact.
“We’re constantly seeking out new and innovative ways to increase our profit outcome through the enhancement of our building operations. It’s crucial that we do so while also improving our tenant’s overall experience, which can be a fine line at times. We’re thrilled to team up with BrainBox AI as they allow us to deliver on these vital operational objectives. Their technology yields positive results in reducing our energy spend while simultaneously improving the tenant experience. Moreover, they’re reducing our carbon emissions and helping the real estate industry move one step closer to our net-zero carbon goals." said Nicholas Mazza, Director of Operations at Mountain Development Corp.
This announcement comes as BrainBox AI continues its expansion across the Northeast and Mid-Atlantic United States, with the Company recently announcing the inaugural installation of its real estate technology in New York City.
About BrainBox AI
Founded in 2017, BrainBox AI was created to address the dilemma currently facing the built environment, its energy consumption and significant contribution to climate change. As innovators of the global energy transition, BrainBox AI’s game-changing HVAC technology leverages AI to make buildings smarter, greener, and more efficient. Working together with our trusted global partners, BrainBox AI supports real estate clients in various sectors, including office buildings, hotels, commercial retail, grocery stores, airports, and more.
Headquartered in Montreal, Canada, a global AI hub, our workforce of over 150 employees, bring with them talent from all sectors with the common thread of being in business to heal our planet.
BrainBox AI works in collaboration with research partners including the US Department of Energy’s National Renewable Energy Laboratory (NREL), the Institute for Data Valorization (IVADO) as well as educational institutions including Montreal’s Institute for Learning Algorithms (MILA) and McGill University. For more information visit: www.brainboxai.com
About Mountain Development Corp.
Founded in 1979, Mountain Development Corp. (MDC) is a full-service real estate company with more than 40 years’ experience developing, acquiring, building, repositioning, managing, leasing and financing commercial property. MDC is an active acquirer of a broad range of opportunistic and value-added real estate investments, together with select core projects, capable of generating attractive, risk-adjusted returns for both its principals and select partners.
For media inquiries:
BrainBox AI
Rebecca Bender
Montieth & Company
rbender@montiethco.com
Mountain Development Corp.
Nicholas Mazza, RPA
Director of Operations
nmazza@mountaindevelopment.com
