Bractlet – The Cutting Edge of Energy Insight
- Alec Manfre, CEO and Co-Founder
- Matthew Lynch, CPO and Co-Founder
- Brian Smith, CTO and Co-Founder
Talk about your “movers and shakers.” The three founders of Bractlet know a thing or two about moving and shaking up the commercial energy savings market. With the single goal of developing a better way to analyze and consume energy more efficiently, Alec, Matt and Brian started Bractlet by moving from Georgia, to Santiago, Chile, back to Atlanta, then to a vibrant new office in Austin, Texas.
“One thing our team is most proud of is that we are always open to feedback and ready to move in the direction that has the highest probability of success. We’ve shown that over and over again. We were able to pivot a number of times to get to where we are today.” – Matt
Today, Bractlet is working with some of the largest Energy Service Companies (ESCOs) in the country to forecast and verify savings for energy efficiency projects in large commercial buildings. Typically, when commercial building owners consider purchasing a new piece of equipment, such as a new air conditioning system, they need to be able to calculate the return on investment correctly. Many building owners contract with ESCOs who determine ROI and offer a performance guarantee. The problem is that the amount of valuable data ESCOs are currently receiving from a building is extremely limited. Their main source of data is from monthly utility statements which don’t provide any insight as to what is happening in the building and among all of the energy consuming systems.
“We have a solution that is light years ahead of what traditional Energy Services Companies can provide and so we create a lot of value for them.” – Brian
Bractlet’s hardware monitors electricity at the equipment level. That data is then sent to a second device called the Bractlet Gateway which transmits the information to cloud servers via cellular connection. It’s important to note that the Bractlet Gateway also interacts with existing building automation systems to gather even more data about machines operating inside the facility. “There are very few companies that can actually do both of these things. This is a big differentiator of our business. If we just stopped there we would be doing well. But we take it a step further.” – Alec
Bractlet has the capability to provide analytics to learn how each piece of equipment uses electricity.
“We can tell a building owner that if it’s 90 degrees out with 80% humidity and a certain building occupancy level precisely how much energy that air conditioning is using. One of the ESCOs we are working with was about 30 – 35% off of actual on site consumption. Because of our cutting edge analytics, we were within + or – 3% of the actual energy load.” – Brian
Securing contracts with ESCOs like Johnson Controls has been a huge win for the Bractlet team. Johnson Controls spent an extensive amount of time vetting Bractlet’s technology, team, and business model before deciding to green light a project. In tandem with working with ESCOs, Bractlet is working with direct customers as well. They have contracts in two facilities within one of the largest hospital groups in the state of Texas.
“What they see is that our process, our methodology and what we deliver is quite a bit ahead of what they can offer today. Next we are going into a building in downtown Chicago. They would not have given us the time of day if they didn’t think that our technology was unique.” – Alec