Toronto, Ontario – July 15, 2021- Universal PropTech Inc. (TSXV: UPI | OTCQB: UPIPF | FSE: 8LH) (“UPI” or the “Company“) is pleased to announce that the Company has entered into a systems integrator agreement (“Agreement”) with Strato Automation Inc. (“Strato”) to be an official systems integrator of Strato building automation products, systems and cloud solutions in Ontario.
Chris Hazelton, President & CEO of Universal PropTech Inc. commented, “Building automation is at the core of our business, and access to Strato intelligent building solutions enables Universal PropTech to be far more competitive in light commercial and multi-unit residential buildings with immediate capabilities to integrate artificial intelligence.” Mr. Hazelton further stated, “Access to lower-cost building automation systems and installations will keep us competitive as we look to grow our market share.”
“We are very pleased to be partnering with UPI / VCI Controls, a company known to give quality value added services with such a strong business reputation in our industry built up over many years. UPI / VCI Controls has been a pioneer and leader in the Canadian Building Management Systems market dedicated to HVAC controls in commercial buildings.” shared Michel Lemieux, VP sales & Marketing at Strato Automation.
“Majority of buildings in North America are small and medium size and do not have building automation systems. Those buildings have fewer opportunities to reduce their energy spend, and Strato allows us to attack a massive under-served market with a very competitive offering,” commented Frank Carnevale, Chief Growth Officer of Universal PropTech Inc. “Strato is one more in a string of solutions that meet our objectives in becoming a Trusted Advisor for customers and delivering value across our spectrum of offerings for clients and for future acquisition targets.”
Building Automation System Market
The global building automation systems market size is projected to grow from USD 73.5 billion in 2021 to USD 112.1 billion by 2026; it is estimated to grow at a CAGR of 8.8% during the forecast period. The growth of the building automation system market is fueled by the increasing requirement of energy-efficient facilities. The North American market makes up ~42% of the global market.
As a non-exclusive systems integrator, the Company will utilize Strato solutions to compete for the building automation systems in under-served mid-size buildings in Ontario. Mid-size buildings, light-commercial and multi-unit residential buildings generally do not have building automation systems, thus are less energy efficient than large and enterprise-wide buildings. Such buildings include condominiums, hotels, seniors housing and apartment buildings. Strato solutions are more cost-effective for these customers because the systems are less expensive in products and installation vs competitors.
With Strato installations, the Company has the immediate capability to utilize artificial intelligence to generate energy efficiencies in customers’ buildings.
As part of the Agreement, the Company must achieve a minimum number of Strato orders per year to maintain the official status. The Company has already generated one proposal that, if selected, would more than meet that requirement.
About Strato Automation Inc.
Strato Automation is a Canadian based manufacturer of building automation products, systems and cloud solutions. The company is focused on creating value from the large amounts of data generated by HVAC control systems based on simple and cloud-friendly architecture. www.stratoautomation.com
About Universal PropTech Inc.
Universal PropTech Inc. (TSXV: UPI | OTCQB: UPIPF | FSE: 8LH) is a leading building innovation company, selecting, integrating, deploying, and maintaining PropTech in healthy buildings. As trusted advisors, we provide holistic evidence-driven solutions and services for building developers, owners, and operators in Canada. UPI operates through its wholly owned subsidiary, VCI Controls Inc. (“VCI“), a leading supplier and integrator of PropTech healthy building solutions and services. VCI is an industry leader in the acquisition and deployment of intelligent building technology, including the integration of all building systems utilizing the latest in communications technologies and standards. VCI’s business focuses on digital controls and mechanical services, performance monitoring, and energy efficiency solutions.
With headquarters in Toronto, Universal PropTech Inc. has offices across Canada including, Halifax, Montreal, and Ottawa. For more information, visit www.universalproptech.com.
Universal PropTech Inc.
President and Chief Executive Officer
Additional Universal PropTech Statement
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Forward Looking Statements
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