SUNNYVALE, Calif., March 1, 2021 /PRNewswire/ -- Turntide Technologies (Turntide), the company responsible for the Smart Motor System, the world's most sustainable electric motor with digital DNA, announced today that it has signed a definitive agreement to purchase Riptide, a next-generation building automation company whose software is driving the transition to smart, cloud-managed buildings.
The operation of buildings is responsible for 40% of CO2 emissions worldwide. According to the U.S. Department of Energy (DOE), one-third of energy used in commercial buildings is wasted. Smart building technology adds an intelligent layer to eliminate this waste and inefficiency by automatically controlling lighting, air conditioning, heating, ventilation and other essential systems.
Riptide's application automates building management to optimize comfort and productivity, while minimizing downtime and energy consumption. Most importantly, it works with the equipment that building owners already have. The acquisition of Riptide's building automation solution will accelerate the development of Turntide's BOS (Building Operating System) platform.
Turntide launched the BOS platform in 2019. Its first implementation was an environmental solution for efficient, animal-centered dairy barn operations, in partnership with VES, now VES-Artex. Turntide not only provided the optimal efficiency motors to power VES's first generation of direct drive dairy fans, but also provided the IoT infrastructure that makes VES-Artex powered barns "intelligent." The Dairy Barn Operating System (DairyBOS) collects data from environmental sensors in the barn to automatically adjust barn lighting, ventilation, and cooling. It also provides 24/7 monitoring of components and conditions, thus optimizing health and comfort for animals and farm workers in dairies around the world.
In acquiring Riptide, Turntide plans to expand further into building automation by improving and extending its BOS platform to office buildings, retail locations, schools and more. Riptide's application currently helps customers manage over 50 million square feet of space. Turntide will continue to support these customers.
"In 2021, the state of building automation resembles the computer industry in 1980. The largest buildings have expensive, mainframe-like control systems, and the vast majority of buildings operate in the absence of data and intelligent control," said Turntide's executive chairman and CEO, Ryan Morris. "Moore's Law continues to drive the cost curve down, making it feasible to bundle effective building automation with our efficient HVAC smart motor upgrades. At Turntide, our vision is to upgrade all the world's motors to intelligent motor systems, making every watt of energy worthwhile for humanity."
Turntide sees the acquisition of Riptide as an accelerant to managing buildings of all sizes.
"To optimize energy use, we have been developing our software capability beyond the motor to support the efficient management of all facets of each building," said Morris. "Today, only the world's largest buildings can access legacy automation systems, but over time all buildings can be intelligently managed. Our acquisition of Riptide will help us democratize automation to buildings of all types and sizes."
As part of the acquisition, all Riptide employees including founders Mike Franco, Dave Leimbrock, Marti Ogram, and Shawn Leimbrock will be joining Turntide.
"With the full transition to renewable energy sources still years away, integrating software to create smart buildings accelerates the reduction of industries' carbon footprints," said Franco, co-founder and CEO of Riptide. "Building automation and electric motors go hand-in-hand. We are excited to help Ryan and his team turn the tide on climate change."
Learn more about Turntide Technologies and the Smart Motor System at turntide.com.
About Turntide Technologies
Headquartered in Sunnyvale, California, Turntide Technologies makes the world's most reliable, efficient, and intelligent motor system. Unlike most clean tech products, our switched reluctance motor technology is actually less expensive to own and operate than its conventional alternative. When this revolutionary motor is combined with IoT building automation technology, the result is optimal efficiency. Turntide sells motors in form factors for a number of applications, up to 15 HP. The Smart Motor System advances sustainability goals, saves money, and minimizes maintenance calls. For more information, visit https://turntide.com/ or follow the company on YouTube, Twitter, and LinkedIn.
Founded in 2012, Riptide's mission is to make every building an exceptional experience using a digital approach to facilities management. By combining Silicon Valley technology and a long history in HVAC and control systems, Riptide has created a solution for building owners that offers visibility and control over brick and mortar operations, without being onsite. The company's technology stack creates an end-to-end platform to deliver building optimization regardless of what equipment a building owner has in place – offering an easy, affordable, and secure solution. Riptide is a member of Intel's Internet of Things Solution Alliance. Riptide has offices in Santa Barbara, CA and Bangalore, India.
Caroline Beckmann – Trident DMG
SOURCE Turntide Technologies