Algeno reduces heating costs for large real estate owners

FCC spins out Algeno AB to handle the increasing number of requests to start using the smart building heating control system developed by FCC in collaboration with Örebrobostäder.

Algeno is a deeptech company that addresses large property owners’ environmental goals regarding energy efficiency in buildings. With a scalable cloud-based solution for heat management in multi-family buildings based on advanced control methodology, optimization and AI, the company’s solution will be key to the real estate industry’s environmental transition until 2030.

Algeno offers cloud-based algorithms that learn the thermal properties of buildings and create AI models that describe the sensitivity and impact of external factors. The models are then used to optimize heating systems and control the stock of apartment temperatures in multi-family buildings based on the property owner’s set goals and conditions with savings of between 5% and 10%. The business idea is to provide the heat management algorithms as a software-as-a-service that property owners can use both to adjust existing heat management in real time and to pinpoint where manual adjustments of heating systems provide the greatest savings potential.

The founding team consists of Mats Jirstrand, Magnus Önnheim, and Emil Gustavsson who together with Chalmers Ventures kicks-off the operations of this new company.

Algeno – ALGorithms for ENergy Optimization!