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)–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.