En-trak Sign Partnership With Envision
On 20th April 2018 at "The Future Is Now" seminar, supported by Singapore Economic Development Board (EDB), Energy Market Authority (EMA), & Enterprise Singapore, En-trak CEO & founder Dr. Vincent Chow signed a Memorandum of Understanding (MOU) with Envision Energy, a company which owns the leading Intelligent Internet of Things (IoT) platform, EnOS™, and is the second largest smart wind turbine manufacturer in China.
The partnership will jointly explore collaboration and development opportunities regarding smart building energy management applications in the Asia-Pacific region using the EnOS™ platform.
CEO & founder of Envision, Mr. Zhang Lei, said of the partnership: "By signing the agreement and the MOU, it shows that Envision is working with Singapore’s leading companies to create smart city solutions and products which could be duplicated worldwide. Envision is fully committed to help Singapore realise its smart nation vision and we will help nurture Singapore’s smart innovation ecosystem."
Dr. Vincent Chow, CEO & founder of En-trak, remarked: "Today marks an important milestone for En-trak with the signing of a strategic collaboration with Envision Energy - one of the largest renewable energy companies in China. From schools to offices to buildings and now to townships, En-trak is excited to be part of the global Smart Cities blueprint."
Below is the Q&A session Dr. Vincent Chow (VC) took part in with the Singaporean media.
Reporter: Tell us, what benefits does this collaboration between Envision and En-trak bring to you?
VC: When we first encountered Envision 6 months ago and we heard about what they are trying to build in terms of the OS platform, we could see they were very focused on the generation side of the data. For us, we have been collecting and analyzing data from buildings for over 300 customers, we are specialized in consumption data so we know exactly what's happening in the building. The vision is to put everything on one platform so it can balance out things on the distributed grid relating to Smart Buildings, so we believe in that vision. I think that is something that this partnership can bring us to the next step and that's what we are looking forward to.
Reporter: Did you consider other companies/options?
VC: Yes. The last time I had to do a signing like this was when I got married! A partnership, for a company, is just a marriage; you have to find the right one who shares the same thoughts. There will be ups and downs and different directions we want to take but I believe in where they are going and I think we are aligned. Of course, as a company, we do consider other options. They will likely have done the same. You have to place your bet on finding the best out of the available options and I think we have made the right choice. We are looking forward to what we can do in terms of bringing the data together in Singapore and the rest of Asia-Pacific.
Reporter: Is it about cost at all?
VC: Cost is definitely one area to consider and each of us has our own different R&D/production costs and so on, but the synergy of Smart Cities and Smart Buildings (Iot) is a very big circle. No one company can complete the whole picture, so we need partners like Envision. For the wind generation and solar generation, this partnership brings us this kind of data but we are also working with other utility companies and partners around the world to solve different problems in order to fully bring this idea to reality.
Reporter: So you say it's because they have energy and a solution?
VC: Certainly. I also like that they are aggressive! They want to expand and grow, and that is what we are looking for as well. Time is money, and we like the fact that the whole discussion with Envision took about 3 months, which was very efficient.
Reporter: Can we get an idea of your 300 current clients; what kind of buildings? Where are they? What type of building would benefit from this kind of partnership in terms of efficiency/crossover?
VC: Any company that uses a large amount of energy will find this data useful because right now there is so much data sitting in different places. The issue is where can we bring all of this data together and turn it into information? That is what we are trying to do. This group of 300 consists of hotels, factories, large commercial buildings, almost anything you can imagine. By putting this data into something that people can understand and make use of, that is where the trick is. This partnership will bring the generation into it as well. Now we can see the generation and demand side on one platform.
Reporter: Geographically, where are these clients?
VC: We are active in a few countries now; Singapore, Hong Kong, Thailand, Macau, and these are the places we have been working in. We definitely hope this partnership can bring us into China and determine what things are like over there.