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Ted Atwood, President & CEOBrentwood, TN, based Trakref gives relief to property owners by providing software to track efficiency of HVAC/R and prune energy expenditure. “We are changing the HVAC/R landscape through our trakref platform that has harmonized regulatory requirements and global best practices, so that the user has clarity and guidance at all times,” states Atwood. The platform utilizes HVAC/R service activity to generate equipment health index to ascertain compliance and ameliorate trustworthiness and performance of HVAC/R systems.
By leveraging Trakref’s patented tracking system, its software monitors labor, traces equipment, and feeds data to the trakref mobile application. The multi-platform mobile solution, which can be accessed offline or via web, updates on-field technicians about compliance requirements. “We scan regulatory activity from local to international levels and ensure our client’s workflows are updated to accommodate the changes, so their sub-contractors capture what is needed,” says Atwood.
We want to be a part of the trend that leads to enriching owners with data about equipment performance
“Then, they can use that in addition to an invoice or as a tool to build the invoice in their own system.” The mobile solution assists technicians in gathering on-field data and expedites data collection by injecting information in workmen’s invoice tool. The data is also shared with equipment owners to proffer view into service activity. “Trakref mobile app’s streamlined approach further reflects our total commitment to connecting all stakeholders involved in HVAC/R,” states Atwood.
Trakref solutions have created numerous success stories and in one of these instances, the client had data for only 15 percent of registered assets. Trakref matched on-field activity and other service events and gathered information for the remaining 85 percent of equipment. The collocated data enabled the client to manage its HVAC/R system with ease as well as improved communication, record keeping, and compliance (ISO 14000). As the client had deployed the trakref platform, presenting necessary details to an EPA audit committee was an easy task.
Currently, team Trakref is beta testing a new connectivity process that will empower the company to display information on desktop as well as its mobile platform collected from any IoT device or sub-meter. “Globally, there is a major push to better manage building energy costs because, in addition to the cost, there is the carbon impact from running a building,” says Atwood. Trakref aims to liberate the energy arena by entitling building owners with data custodianship. “Today, no blue book exists to guide on expenditure limits for maintenance of HVAC/R equipment. We want to be a part of the trend that leads to enriching owners with data about equipment performance,” concludes Atwood.
Fexa Acquires Trakref to Expand Facilities Management Platform into Sustainability Compliance
Tuesday, April 18, 2023
MULLICA HILL, N.J.: Fexa expands its capabilities to address mounting regulatory and compliance risks with the acquisition of Trakref, a leading refrigerant tracking and management software provider.
The future of retail and facilities management is facing unprecedented uncertainty. With looming regulation from the EPA and the SEC’s new carbon reporting requirements that are expected to be announced this year, companies must navigate once-in-a-lifetime cost and compliance pressures in the face of economic headwinds, increasing sustainability goals, and rapidly changing customer needs that are pushing facilities and assets to their limits.
“Fexa was founded on the principle that innovative technology can play an essential role in helping companies maximize the potential of their facilities,” said Kurt Smith, CEO of Fexa. “We felt uniquely positioned to help the industry solve the immediate challenge of tracking and managing refrigerants. We did an exhaustive search for the best solution to solve this problem, and it became clear that there is no equal to Trakref’s rules engine in terms of providing a fully compliant, audit-ready solution. Ensuring a seamless transition for all customers and partners is our top priority.”
Typically, cost management and compliance are addressed separately, but these growing challenges demand a holistic approach. With these added capabilities, Fexa will deliver a comprehensive solution that empowers facility owners, operators, and service providers to manage facilities efficiently, maximize the longevity and performance of assets, meet compliance regulations, and deliver against sustainability goals.
“We have seen how the Fexa CMMS platform has helped multi-site businesses manage their facilities more cost-effectively. The Fexa platform is extremely efficient and created more than a 35% reduction in clicks to process a work order within my organization. The addition of Trakref is a natural evolution of their platform, as refrigerant compliance will require tight coordination between facilities managers, service providers, and HVAC/R assets,” said Chris Jernigan (CJ), executive managing director of Cushman & Wakefield Facilities Solutions. “I have first-hand experience with both platforms, and the possibilities of this partnership are very exciting for our clients. It’s the true definition of synergy being created between two great solutions. Fexa should be commended for listening to the market in terms of the real needs of facility managers and taking action to bring this solution together all within one platform.
”The combined company will continue to make its unique products and services available independently to customers and partners across the retail, grocery, healthcare, financial services, data center, real estate, and food services industries as they rapidly innovate to deliver new, integrated capabilities. Fexa and Trakref will continue to value and pursue extensibility with other systems, platforms, and service providers, so that customers have choice when it comes to finding the best solutions for their needs.
“We are ecstatic to join forces with Fexa, who believes in our mission of slowing climate change through better refrigerant tracking and management and helping clients gain control over their HVAC/R activity,” said Ted Atwood, founder of Trakref and now chief compliance and sustainability officer of Fexa. ”We remain committed to creating innovative solutions to stop costly refrigerant leaks for the planet's health and the safety of people everywhere. We will continue to work with a broad group of constituents, clients, and partners as we pursue this vision.”
Last year Fexa announced it had raised $40 million to support the acceleration of product development and enhance customer support. Since then the team has roughly doubled in size, so it is prepared to accelerate the roadmap, integrate acquisitions, and invest in a next generation, integrated solution. Fexa now serves more than 1.8 million facility locations across the U.S. and Canada, having grown more than 90% over the past year.
Company
Trakref
Management
Ted Atwood, President & CEO
Description
Provides effortless management of HVAC/R
