Verdigris Technologies
| Company type | Private |
|---|---|
| Industry | Energy management, Artificial intelligence, Cleantech |
| Founded | 2011 |
| Founder | Mark Chung, Thomas Chun, Jonathan Chu |
| Headquarters | Mountain View, California , United States |
Area served | Americas, Europe, Middle East, Africa, Asia |
Key people | Mark Chung (CEO) |
| Products | AI-driven energy management platform, intelligent sensors, analytics software |
Verdigris Technologies is an AI-focused start-up established in 2011 by founders Mark Chung, Thomas Chun, and Jonathan Chu. Based at NASA Ames Research Center in Silicon Valley, California, Verdigris specializes in the energy management sector.
The firm’s cleantech platform, powered by Industrial Internet of Things (IIoT) and artificial intelligence, aims to enhance energy efficiency within commercial and industrial smart buildings. By integrating proprietary hardware with advanced software, Verdigris continuously monitors building systems to provide actionable data that helps lower energy usage and operational expenses. Its solutions emphasize reducing peak power demand, early identification of equipment malfunctions, and pinpointing inefficiencies such as motor-related problems.
Serving a wide array of industries—including hospitality, corporate offices, agriculture, food manufacturing, and industrial production—Verdigris counts early clients like the City of San Jose, Autodesk, and Netflix. With over 500 installations worldwide spanning the Americas, Europe, the Middle East, Africa, and Asia, prominent customers include Jabil Circuit, Vention Medical, The W Hotel San Francisco (Starwood Hotels), The Orchard Hotel in San Francisco, and The Marriott Marquis in Washington, DC.
The company has raised close to $15 million through venture capital funding. A notable $6.7 million financing round in October 2016 was spearheaded by strategic backers Jabil and Verizon Ventures. Verdigris’ business approach centers on AI-driven analytics that empower commercial facility managers with tools to optimize energy use—strengthening its position and growth prospects within the smart building market.
CEO Mark Chung leads Verdigris with a focus on strategic innovation and expanding market presence. The company earned recognition as one of Fast Company’s 10 Most Innovative Companies in Energy for 2017.
Product Versions
On August 30, 2016, Verdigris introduced its fifth-generation energy platform named Einstein during a live demonstration at Jabil Blue Sky Center in San Jose, California. As reported by Engineering.com, Einstein simplifies installation processes and integrates a built-in cellular radio—features absent from earlier models that depended on external connectivity devices.
Services
Verdigris delivers analytics and workflow automation software as a service (SaaS) tailored for round-the-clock facilities teams to boost operational productivity, minimize equipment downtime, and decrease energy expenses, according to co-founder Thomas Chung.
The company’s intelligent sensors attach directly to electrical circuits to monitor power consumption continuously. These devices securely transmit data via Wi-Fi or Verizon’s 4G/LTE networks to cloud platforms. Compared to conventional utility smart meters, Verdigris sensors collect hundreds of millions more data points every hour, enabling its AI algorithms to learn and adapt to the unique operational patterns of building equipment over time.
Verdigris offers three main analytics solutions:
- A web-based dashboard that provides comprehensive energy usage insights.
- Tracker, a customizable mobile application designed for real-time alerts.
- Lobby dashboard that visually represents energy consumption on lobby displays.
The platform’s demand management forecasting employs deep learning recurrent neural networks to evaluate live energy data alongside weather conditions and occupancy metrics. This process generates probabilistic forecasts of power consumption.
Verdigris technology holds certifications permitting deployment across 38 countries including the United States; 32 European Union nations; China; Malaysia; Mexico; India; and Canada.
Company History
Mark Chung, co-founder and CEO of Verdigris, developed the concept for the company after returning from a trip to find an unexpectedly high electricity bill that lacked detailed usage information. By modifying affordable kilowatt meters to enable Wi-Fi connectivity, he constructed an electrical usage map to track individual appliances, which led to discovering a malfunctioning pool pump. This experience inspired the creation of a business focused on mapping energy consumption within commercial properties.
Verdigris advanced through the Stanford accelerator StartX and secured funding from Stanford University. It was also an early recipient of support from Founder.org, winning their competition and obtaining investment from Founder.org Capital. Initial backing included collaboration with NASA, notably on initiatives at the Sustainability Base located at Ames Research Center. The company’s main office is situated in NASA Ames Research Park in Mountain View, California.
In December 2016, Verdigris earned recognition from GreenBiz as one of ten notable companies in the smart building sector. The following year, CBInsights featured Verdigris on its AI 100 list, highlighting leading private artificial intelligence firms worldwide. Additionally, Fast Company honored Verdigris in 2017 as one of the 10 Most Innovative Companies in Energy.
The term ‘Verdigris’ denotes the greenish patina that forms on copper, a vital material in electrical systems within buildings. Chung highlights the firm’s objective to reveal and enhance this essential infrastructure to promote sustainability.
External links
- Verdigris Joins Building Monitor Disaggregator Fray, Inks PG&E Agreement - greentechmedia.com