Entic Announces Strategic Growth Investment

Blackstone used Entic’s technology to drive efficiency at its real
estate assets and has taken a strategic stake in the business

FORT LAUDERDALE, Fla.–(BUSINESS WIRE)–#HVAC—Entic,
a leader in smart building software, announced that it closed a
strategic investment from Blackstone
(NYSE: BX). The investment will help accelerate Entic’s growth plans, as
it continues to provide best-in-class technology solutions to commercial
building owners. Using real-time data analysis of major energy consuming
systems, Entic’s software-as-a-service (SaaS) provides insights into and
prescriptions for improving building operations. Entic is easy to
install and begins identifying and reducing energy waste within the
first 30 days.

Blackstone has successfully used Entic’s technology to provide
operational efficiency and energy savings at several assets owned by the
firm’s real estate funds, including Park Avenue Tower in midtown
Manhattan and the Howard Hughes Center in Los Angeles. Blackstone will
provide the company ongoing support and expertise from Blackstone’s Real
Estate and Innovations teams.

“Partnering with Blackstone provides a major validation of our
technology and will help to accelerate the growth of our company,” said
Carlos Diaz, Co-Founder and CEO of Entic. “Blackstone’s investment and
decision to deploy our technology are together a major recognition of
our success in reducing energy waste and increasing operational
performance in commercial buildings,” he added.

“We’ve closely followed Entic’s track record for some time as part of a
search for a best-in-class energy analytics platform,” said Don
Anderson, Executive Director for Blackstone. “Entic’s products provide a
powerful tool for scaling our energy performance improvement efforts,
and serve as an important part of our ongoing commitment to ESG across
our portfolio.”

“Blackstone recognizes the opportunity created by new, emerging
technologies to embrace disruption instead of resisting it,” said Bill
Murphy, Chief Technology Officer for Blackstone. “We feel we can
leverage a great product to enhance energy efficiency in our
investments.”

About Entic

Entic provides building owners with substantial energy and water savings
through increased operational visibility and control under an
affordable, easy-to-implement subscription model. Used by some of the
most recognized names in hospitality, healthcare, commercial office real
estate and sports, Entic provides real-time financial and engineering
dashboards so that business and facility managers can make better
decisions. For more information, please visit www.entic.com
and follow Entic on Twitter @enticusa.

Contacts

For Entic
Rebekah Epstein
[email protected]