As the hospitality sector faces mass closures due to soaring energy bills, there are new calls for the government to support the industry’s move to net zero with grants or tax breaks.
Facilities management company Cloudfm says IoT (internet of things) technology can help businesses reduce their energy consumption by 20%, and funding should be made available to hospitality to accelerate its adoption.
Commenting on the move, Jeff Dewing, CEO of Cloudfm, said: “The hospitality industry sector is facing a crisis that will see energy bills increase by up to 300%. It will mean mass closures and job losses that will damage this vital area of the economy at a time when it’s just recovering from the pandemic.
“It’s within the government’s power to provide a tax incentive or grant to help fund the adoption of new technologies that will help reduce energy consumption to save jobs and benefit the environment by accelerating the road to net zero.”
In a letter to the prime minister, Boris Johnson, the chancellor, Nadhim Zahawi, and the business secretary, Kwasi Kwarteng, industry groups UK Hospitality, Night-Time Industries Association, Music Venue Trust, The British Institute of Innkeeping, and The British Beer and Pub Association warned that thousands of jobs are in ‘grave danger’ due to the energy crisis.
Over the past year, energy prices have skyrocketed for businesses, and unlike consumer energy bills, there is no price cap on business energy costs.
Cloudfm has developed patent-pending technology that uses IoT, Machine Learning and Artificial Intelligence to monitor buildings and all mechanical assets within those buildings. The Mindsett Smart Box (Prism) takes energy monitoring and insight to a whole new level, including multi-dimensional harmonics to report energy consumption and predict failure long before it happens.
Extensive trials in the hospitality industry and NHS have shown the technology, when combined with behavioural science, reduces energy consumption by at least 20%. A substantial monetary saving and a significant CO2 reduction.
The data is provided in an easy-to-use mobile application that allows users to make early and easy decisions about energy consumption, whether that be turning off the hot water boiler outside working hours or shutting down energy on floors when people aren’t present. It’s an approach that Cloudfm itself has used to significant benefit.
Notes to editors:
Cloudfm is committed to restoring trust in a failing facilities management industry. It is focused on technology and culture to advance its customers’ businesses in a sustainable way. Cloudfm has received international recognition for its innovative thinking and applications. It prides itself on service-led partnerships that deliver value for all stakeholders.
Cloudfm structures its customer partnerships to be fit for purpose and capable of sustainably delivering category-defining value. Its team are experts in smart FM solutions and are specialists in multi-site portfolio management.
The development of its Freedom platform created an eco-system that drove new levels of transparency and accountability across the supply chain. It is now set to lead IoT with the Mindsett platform, designed to eliminate waste and help companies profitably manage their path to Net-Zero. Read more:https://www.cloudfmgroup.com/services/tech-solutions/
Cloudfm is named as one of the UK’s most innovative property technology creators in the BusinessCloud PropTech 50, and a global leader in IoT-enabled predictive maintenance by Gartner.
For more information contact Nathan Lane on 07447 921654.