A breakthrough innovation by rising Melbourne-based technology start-up Setmetrics Pty Ltd promises to radically change the global commercial building sector.
September 1st 2019, Melbourne: Setmetrics is seeking an Australian patent over proprietary technology underpinning its virtual engineering platform based on a cloud-based, rapid energy modelling innovation – an innovation which is set to revolutionise the commercial building retrofit industry.
The patent application was filed on May 21st 2019 under the title “System and method for generating data for conducting energy modelling of a building”.
Setmetrics CEO Matt Connolly said “Traditionally, only the biggest building projects could afford the time and cost to undertake complex thermal energy modelling – the most accurate way to forecast the true impact various building components will have on energy efficiency and operating cost.”
“Setmetrics’ innovation harnesses the power of super computers to create an energy model of a building “in the cloud,” he said.
“Simulations are then run on the model to identify the optimum, most efficient design. Modelling that currently takes between two- and three-months’ work by skilled specialist engineers can now be done in hours – enabling fast, accurate, and timely analysis and forecasting” said Matt.
With around 40 percent of total global energy consumption accounted for by residential and commercial buildings, more accurate measurement and management of energy use is in high demand. Setmetrics have leveraged sophisticated AI and simulation technologies, cleverly melded with statistical modelling and engineering theories, to enable more effective, accurate and efficient processes as a new industry standard.
Following a recent technology breakthrough, Setmetrics can link new buildings into the ecosystem in a day, enabling the fast on-boarding of large (1,000+) building portfolios. The capability is a major technical achievement, a global first and a coup for the small Australian firm.
For further information visit www.Setmetrics.com
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