Myrspoven pioneering the real estate industry by optimizing energy usage

Artificial intelligence is transforming the world in many ways, from cars and drones, to smart homes. Now, Myrspoven is revolutionizing the real estate industry by using AI to optimize energy usage in buildings.

The company’s AI technology integrates with a buildings’ existing systems and manages HVAC autonomously. Its algorithm harvests any available data like weather and utility tariffs, and calculates how to achieve the best indoor climate at the lowest possible cost.

“Since we have volatile energy prices, we can use that information trying to predict how we can optimize and control the billing in the future,” Myrspoven Head of Business Development Tobias Björk said.

The European Environment Agency says the real estate sector is a key contributor to greenhouse gas emissions, estimating the industry represents about one third of energy related emissions in the EU. The agency says these are partly from fossil fuel energy, and from electricity and heat used in buildings.

“Huge leaps forward in one of the most carbon-intensive industries”

Myrspoven’s goal is to contribute to the reduction of the industry’s carbon footprint by one percent.

“If we are optimizing a building for a full year, we can have flat energy consumption,” Björk said. “In terms of energy, we can save a lot of money based on the tariff and cost structure.”

The customer is able to define the indoor climate, and the AI system uses data to teach itself to adjust heat, cooling and ventilation. The software forecasts energy costs and the weather outside, and takes into account the precise specifications of the building itself. The company says the AI upgrades and optimizes every day as it learns from the data it collects.

Björk says originally the company focused on commercial buildings since they typically have a lot of different systems to control. They’re now expanding, and adding a lot of residential buildings as well.

Myrspoven is also working on addressing the increase in demand for green certification, and recently entered the UK market.

“We are not just saving money, and saving energy,” Björk said. “We are also adding a lot of points so we can have certified buildings in terms of green financial loans, bonds and such.”

Myrspoven won “Social Impact Award” during Techarenan Challenge 2022 at Almedalen this month.