General Electric, Intel Back Scientific Conservation
Scientific Conservation Inc. aims to increase level of commercial real estate from 15 million square feet to around 100 – 150 million square feet, with the help of industrial market leaders, Intel Capital and General Electric. The large corporations augmented the funding of the project by almost $4 million.
Separating the winners from the losers in commercial building management
Back in November, Russ McMeekin, CEO of building management specialist Scientific Conservation Inc., told us that the company's goal for 2011 was to expand the amount of commercial real estate it controlled from 15 million square feet to a whopping 100 million to 150 million square feet. Now we know how it will happen. Intel today said it will work with the company to improve the efficiency of its various campuses and buildings. Intel Capital and General Electric, which earlier said it would work with SCI on some of its buildings, also became investors in an expanded Series B funding announced in January. The increase raised the round of funding from $15.65 million to $19 million. The endorsement from the two industrial giants could help create some space between SCI and its many competitors in the potentially lucrative, but increasingly crowded, field of commercial building management.
To continue reading about the SCI expansion project, click here.
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