Specialist ESG technology platform for multi-tenant real estate

Technology to collect data, engage residents, and report on building performance.

Climate Change Mitigation

Problem Addressed

While ESG reporting is a priority, owners, operators, and developers of multi-tenant real estate face challenges accessing reliable and granular data. Typically, this process is carried out manually at regular intervals, but with a wide variety of data sources, it can be difficult to understand where improvements can be made to reduce the operational emissions of a building or portfolio.

Solution Overview

Utopi is pioneering ESG technology for multi-tenant real estate which can collect data, engage residents, and report on building performance. Their solutions can improve ESG performance by lowering costs and energy use while providing real-time reporting for GRESB and other benchmarks. With improved data and ESG performance, building owners also gain access to ‘green capital,’ can set targets and monitor performance, and improve resident engagement. Utopi can offer digital support and on-site support to engage residents based on client needs. This could take a variety of forms from communications schedules to digital assets like posters or flyers to help residents visualise the data and insights as campaigns run. Utopi is also developing an app to enhance tenant engagement through gamification which will be released soon.

Utopi uses smart technology to collect live building data which it can then present on easy-to-read dashboards. The Utopi Platform is a SaaS platform that functions as the nerve centre of ESG data collection by connecting to a variety of smart devices and API integrations, including utility meters and IoT devices, and collecting real time data. This information is analysed and made easily digestible via dashboards and reports. They also have Smart TRVs, Smart Panel Heaters, and Smart Thermostats (from H2 of 2024) which integrate with the Utopi Platform and allow an on-site operator to monitor, measure and control energy use via the SaaS Platform. Utopi’s U-Bot will also search for anomalies in the data and will send alerts when potential issues are detected. Meter data can be collected via hardware (low-cost IoT sub-metering), existing systems (including on-site loggers / BMS), or API integrations with the national smart meter network. Cost and energy savings can be achieved by analysing information from Utopi and addressing outliers in the data such as turning heating off in unoccupied rooms or communicating with residents with overly high temperatures.

Utopi also offers a Multisensor which collects real-time data on light, noise, air quality, temperature, humidity, and motion. It provides a low-cost and scalable method to automatically collect a building’s wellbeing data in any space. Designed for the multi-tenant market, the Multisensor is aesthetically pleasing, battery-operated, and easily deployable in either existing developments or new builds.

Company name

Utopi

UK availability

Yes

Date added

Jul, 2024

Solutions submitted by

Utopi

Case Study

Harrison Street Real Estate (HSRE) rolled-out Utopi to 8,542 beds across their UK, Ireland, and Spanish PBSA assets as part of their innovative ESG strategy. Their mission was to improve energy and carbon savings across their European portfolio. Within 2 weeks for some assets, real-time granular data on ESG performance and energy consumption was being collected allowing for action to be taken to reduce their environmental footprint. One asset alone reduced carbon emissions by 68,311kg. Utopi was first tasked with acquiring data to establish a baseline and enhance understanding, then was used to find ways to reduce operational energy waste and find strategies to engage residents on their ESG mission. Reports and analytics from the Utopi platform were used to identify outliers in the data (those with particularly high temperatures) then the data was used for actionable insights across the operations team. Utopi’s Impact team had regular check-ins with HSRE to discuss opportunities for further reductions, resident engagement campaigns, and to measure the successes.

Utopi was able to drive meaningful impact for HSRE: from future proofing assets and improving living conditions for residents to improving operational efficiency, green finance credentials, and gaining green certifications. Across the HSRE European PBSA portfolio, the value uplift associated with this was around £17 million across the whole portfolio. Validated by CBRE’s Valuation and Advisory Services team, specialists in Living Sectors like Build-to-Rent, Co-Living and Student Accommodation; this equates to a 9x return on investment in just one academic year based on a £1.9 million investment in Utopi.

To achieve this, Utopi Multisensors were installed in every room, Utopi electricity meters were used to gather utility data, and the Utopi Platform was used to convert data into actionable insights. By gathering real-time data from Utopi devices, then using that data to enhance understanding and improve operational efficiency, HSRE achieved a reduction in utility cost and therefore an ROI.

20-30 %

£5,000

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