NexRev appoints new President and COO with goal of $1 Billion valuation by 2027

NexRev appoints new President and COO with goal of $1 Billion valuation by 2027

10 February 2022 – NexRev today announced the appointment of a new President and COO who will expand the company’s range of products and services that reduce the cost and amount of electricity wasted associated with operating commercial buildings.

…blue chip customers work with NexRev to tackle wasteful use of resources to manage maintenance and electricity spend in commercial buildings from heating, ventilation and air-conditioning units that are running inefficiently to lights and machinery that are left to run when not necessary …

Today more than 250,000 of NexRev’s innovative energy saving devices are installed and operational in over 20,000 locations across North America, accounting for energy savings of over 2 billion kilowatt hours annually or a reduction of 466 million kg of CO2e into the environment.

NexRev’s customers are large household names in retail, restaurants, finance, travel and leisure, federal and municipal Government buildings, schools and universities.

Customers include Home Depot, Lowes, Floor & Décor, Best Buy, Bed Bath & Beyond, Ross, Burlington, At Home, Academy Sports, Pilot/Flying J, Bank of America as well as movie theaters across America including Cinemark, Regal, AMC and CMX.

As the company’s new President and COO, Chris Haidet brings three decades of experience in both the energy and the telecom industries. He said “Rising energy costs and inflation are real and felt by us all. Look around and you can spot energy and operational waste in commercial buildings everywhere. From the excess use of outside air, machines running continuously when not needed, machines running inefficiently without reliable data to call them out, to the basics of lights left on when not necessary and setpoints that are too cold or too hot. Not to mention the staff required to manage and maintain all the environmental equipment.

NexRev has already created amazing and innovative technologies in-house that allow for remote building management and analytics but there is so much to be done. I’m absolutely delighted to be on-board. Reducing the amount of wasted resources currently required to operate commercial buildings is a win-win for the environment – and an organization’s bottom line”.

One of Chris’ first tasks will be to focus on the future needs of Smart Buildings and the industry’s move to Energy As A Service, defined by Deloitte as switching “from asset-focused, centralized power generation and the sale of it to passive consumers. Instead, it offers end-to-end management of a customer’s energy assets and services”.

NexRev’s R&D team is already working on a number of new next generation building management IoT based platform-as-a-service (PaaS) solutions which will give organizations even more control over their energy consumption and operational waste management. In addition, a more service focused approach will reduce the amount of onsite facility integration and move service control to the edge, increasing individual sensor control and reducing the overall installation and operating cost for the end customer.

Kenneth Smith, Founder and CEO of NexRev stated “Chris’ experience in both the energy efficiency and telecom sectors will help us innovate new solutions with a more telecom-centric approach by bringing more intelligence to the edge, resulting in significantly reducing the amount of integration required at each of our customer’s facilities, therefore further reducing our customer’s operational cost.

Utilizing networks of intelligent sensors within our customer’s facilities that collect, share, and analyze data, the Freedom PaaS systems will monitor and measure energy waste in real time, delivering predictive actionable insights that allow our customers to proactively implement measures to reduce consumption, manage resources more efficiently and reduce the risk of outages and equipment breakdowns. Freedom PaaS enables constant communication and collaboration between IT and Operations teams, facilitating innovative thinking around business process redesign, problem solving through data analytics and the establishment of new efficiency metrics.”

NexRev was established in 1994 as a consulting and systems integrator to install Energy Management Systems. It is headquartered in Plano, TX with a team of 200 and a thriving 20,000 sqft R&D lab. All of NexRev’s products are proudly Made in the USA where all design and manufacturing is originated in NexRev facilities. The company’s impressive list of blue-chip, and smaller, customers speaks for itself, and its team of experts is well-liked and trusted in the industry.

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