JLL buys US proptech platform in sustainability drive
JLL has acquired an AI-powered start-up based in Sacramento, in response to growing client demand for more sustainable buildings.
Virtual engineering platform Hank, which was sold for an undisclosed sum, applies machine learning and AI to solve challenges such as HVAC programming inconsistencies and energy and equipment inefficiencies.
The cloud-based service aims to bolster net operating income for investor clients by improving energy efficiency, air quality, maintenance costs and tenant comfort. It claims it can save 15-30% of energy costs per building.
JLL has acquired an AI-powered start-up based in Sacramento, in response to growing client demand for more sustainable buildings.
Virtual engineering platform Hank, which was sold for an undisclosed sum, applies machine learning and AI to solve challenges such as HVAC programming inconsistencies and energy and equipment inefficiencies.
The cloud-based service aims to bolster net operating income for investor clients by improving energy efficiency, air quality, maintenance costs and tenant comfort. It claims it can save 15-30% of energy costs per building.
The platform functions by plugging into an existing building automation system and developing a “digital twin” of the building in the cloud to learn how it operates. It is able to generate a full systems audit, detail where it can make efficiency adjustments, and take action autonomously and remotely.
Zachary Denning, who co-founded Hank as chief executive in 2016 alongside chief revenue officer Jerremy Spillman, said: “With JLL, we will have the resources to scale faster to advance healthy, sustainable buildings worldwide.”
Hank will operate within the firm’s tech division, JLL Technologies, with Denning joining as director of sustainability product. The platform will continue to serve its existing customers.
Sharad Rastogi, president at JLL Technologies, said: “Our vision for the future of buildings is automated, AI-powered, smart and sustainable.
“By joining JLL, Hank’s cutting-edge technology presents a major opportunity to drive efficiencies for our clients today and best anticipate the needs of tomorrow. JLL’s acquisition of Hank represents a continued commitment to drive sustainability and embrace technology to shape the future of real estate for a better world.”
The deal comes after JLL bought building operations platform Building Engines for $300m (£221m) in November.
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