One thing that commercial buildings, hospitals, and coworking spaces have in common is that a big part of their cost input is utilities, including electricity and water.
According to Jeremy Bedine, founder and CEO of ETC member company GridLion, those utilities, and the systems that depend on them, are ultimately what determine the quality inside those spaces.
At ETC’s summer happy hour in June, we featured the energy startup. Bedine spoke about converting utility data into business intelligence for clients, explaining that the company’s goal is to give clients “visibility and control over energy, so you can solve other big problems.”
Working in various positions across the energy industry for over 10 years, Bedine realized that there’s a huge amount of data to be analyzed when one looks at utility usage. He saw the importance of that data and was motivated to create GridLion, a real-time platform that collects, aggregates, analyzes, and visualizes that utility usage data to provide insight that goes beyond just the traditional technical data.
The company provides actionable data about what happens in your business. For instance, GridLion can take data from your utility bills and match that against 12 months of weather data. “We’re able to alert you that you’re going to have a bigger spending day with the upcoming weather, and provide guidance on actions you can take.”
At a more granular level, GridLion is able to measure how efficient a particular business process or activity is relative to others using submeter data and factoring that against the value that a particular business process delivers. By isolating those processes or systems that have the least optimal performance, GridLion can focus improvement efforts solely on them, and that yields significant near-term cost savings and long-term value to the business.
GridLion can also compare how well your business is operating compared to other businesses in the same industry.
“Even something as simple as people complaining about being too hot or too cold in a space is an issue,” Bedine said. “That’s a reason why someone might decide to leave that space, weather they’re a patron at a restaurant or they’re leasing an office. There are complex things going on behind the scenes of the money we spend, and GridLion makes the spending clearer.”
Saving energy and saving money is far deeper than changing a few lightbulbs.
“Our goal is to help commercial and industrial clients make more money, reduce risk, and enhance their competitive advantage,” Bedine said. “We do this by giving them real visibility and intelligence in a high-cost low-visibility part of their business.” GridLion invests a lot in educating businesses on how energy markets and the power grid directly impact their bottom line. “Energy service providers have capitalized on the immense complexity of the energy space by selling simple but mediocre solutions. We’re disrupting that trend and empowering our clients. It’s exciting.”