Ecoplant Collaborates with Atlas Machine and Raises $8M
Ecoplant's IoT solution, combined with Atlas's deep expertise in compressed air, provides an opportunity to solve the new challenges of the industry.
FREMONT, CA: Ecoplant, the industrial IoT solution for optimizing compressed air systems, raises $8M as part of a Series A funding round, led by Ecolab. The company is also collaborating with Atlas Machine, a distributor and service provider of industrial air compressors, to further reach into the U.S. market and support factories become greener while improving efficiency.
According to the U.S. Department of Energy, half of the energy for air compression goes waste because of leaks and other inefficiencies, which can cost companies several thousands of dollars per factory every year. With 90% of factories using air compression for production, Ecoplant's AI engine can optimize their production, offering up to 30% in energy-saving and reducing unplanned production downtimes by 50%. Ecoplant's software monitors air compressors through a connection to their controllers and pipeline sensors and automatically manages the system utilizing IoT-technology.
With t Atlas Machine team's deep experience in the U.S. compressed air market, extensive network, and comprehensive offering, it stands as an ideal partner for Ecoplant. While Ecoplant is starting with compressed air, it aims to also try moving into chillers and pumps, and also offer a full suite of utility resource planning tools.
Ecoplant has developed a SaaS solution, which can help connect to air compressors' controllers and property sensors to monitor and optimize the whole system regularly. Predictive AI algorithms enable Ecoplant to conduct ongoing energy surveys and also control each compressor as well as the whole system, to reduce a significant amount of energy waste, increase reliability, and optimize maintenance. This will lead to savings of hundreds of thousands of dollars annually. Ecoplant's proprietary algorithms can also be applied in settings such as hospitals and commercial buildings, as well as critical infrastructure equipment like pumps and chillers.