The company’s shares were trading 3% higher intra-day on Thursday, at $0.062.
Buddy Ohm is a full monitoring solution comprised of Internet of Things (IoT) hardware, data infrastructure, operations portal, dashboards and on-the-go mobile experience.
Leveraging the power of the IoT, Buddy Ohm extracts data from buildings, which is then processed by the company’s powerful data infrastructure service, The Buddy Platform.
Buddy Ohm is the first end-to-end system from Buddy Platform designed to help current and future smart city projects.
Buddy Ohm hardware, service, maintenance and support are all included in a standard installation fee of US$1,500 per month per facility.
The service is expected to provide significant cost savings compared to traditional CAPEX-intensive resource monitoring solutions that often run in the hundreds of thousands of dollars.
Interestingly, customer data is already confirming that Ohm pays for itself within the first year as a result of energy savings realised.
The company will launch Buddy Ohm in Seattle’s famed 5th Avenue Theater, which includes an auditorium about the size of the Sydney Opera House Concert Hall.
Buddy is aiming to provide resource monitoring services for more than 1.5 million buildings in the U.S. and Australia that do not presently run building management systems.