BRIEF – 8 March 2010 – Lend Lease Core Plus Fund expects new energy saving software developed by CSIRO could save up to 30 per cent on bills in its commercial property assets.

BuildingIQ, developed by scientists at CSIRO’s Energy Transformed Flagship in Newcastle, and about to be commercialised worldwide under license by BuildingIQ Pty Ltd, promises to optimise how a building’s heating and airconditioning system operates. The technology will also feed in weather updates to fine tune the building’s settings.

BuildingIQ chief executive officer Michael Zimmerman said building owners were “very interested in energy management initiatives with strong near-term return on investment and limited capital requirements”.

The system could help cut operating expenses and improve a building’s official National Australian Built Environment Rating System, or NABERS, he said.

Lend Lease’s Asia Pacific Head of Sustainability, Cate Collins said: Lend Lease was keen to explore innovation in sustainability at all levels.

“We see this product as an opportunity to innovate beyond simple building re-tuning, creating ‘smart’ building management systems to respond to the changing needs of our tenants and our requirement to deliver sustainable solutions, using real time weather updates to streamline energy management”.Ms Collins said an added attraction was that the technology could be  installed in buildings of varying ages with varying existing Building Management Systems without increasing risk of system failure.  A trial of the system at the CSIRO’s Newcastle Energy Centre achieved cost and energy savings of up to 30 per cent.

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