IoT energy tech company Global Innovation Platform announces name change to EnXchange, brings ‘transactive energy’ to market
Dallas, Texas — Energy, microgrid and Internet of Things (IoT) sensor tech company EnXchange, formerly known as Global Innovation Platform (GIP), announced it has changed its name effective June 14.
The change communicates the company’s future vision by merging “energy” and “exchange,” as EnXchange creates energy exchange by delivering two core outcomes to its customers: transactive data and transactive energy.
Backed by Harrison, Walker & Harper (HWH) and its more than 130 years in construction management, EnXchange produces Internet of Things (IoT) sensor technology that collects and analyzes building management system data to produce actionable insights across energy, air quality and occupancy metrics.
EnXchange began as the brainchild of current CEO David Swank, who envisioned building an IoT-enabled platform that could connect devices across the built environment to improve efficiency and reduce waste. As the CEO of Central Electric Cooperative prior to founding EnXchange, Swank began building the foundation of a prototype “smart community” that used a more efficient electrical grid across an entire ecosystem to spread energy usage across building and device types, and reduced waste in the built environment.
The name change not only reflects a more focused company vision, but also years of EnXchange’s concentrated growth within a budding market.
“The name ‘EnXchange’ pays respect to our history to date while moving our services forward, and it helps to represent us as the game-changing, industry optimizers we are,” Swank said. “Our goal is to use this new name to empower consumers to take control of the energy they need and use, as well as to establish a clear foothold in a growing field.”
Through the use of sensors placed on commercial building management system (BMS) hardware (HVAC systems, boilers, etc.), EnXchange’s integrated platform collects and analyzes data using proprietary algorithms, then presents it to stakeholders in actionable ways so they can optimize energy efficiency for a built environment. From enhanced visibility of usage patterns and a reduction in waste, EnXchange works with clients to collect unused energy and sell it back into the grid where capabilities exist, such as the Texas market. This concept creates an energy exchange which reduces energy spend and optimizes the grid for producers and consumers.
EnXchange’s innovative, patent-filed technology not only caught the eye of HWH, the oldest general contractor in Texas, but also partners such as Sapphire Bay, a $1 billion mixed-use development located on the shores of Lake Ray Hubbard.
“From our 135 years of experience in building management systems, we’ve seen many inflexible proprietary solutions enter the marketplace — I was drawn by David’s vision for an agnostic platform that could make data points readily available,” said HWH CEO Jordan Harper. “EnXchange’s open platform application is the way energy, air quality and asset data will be structured in the future, and we’re looking forward to perfecting that application and expanding it.”
“This change represents a very exciting time in our company’s history,” Swank said. “EnXchange isn’t only a new name; it’s a new way of operating, thinking and innovating, and it brings us closer to a future where energy is fully optimized.”
Founded in 2019, EnXchange produces Internet of Things (IoT) sensor technology that collects and analyzes building management system data to produce actionable insights across energy, air quality and occupancy metrics. Backed by HWH, EnXchange is an industry disruptor and network orchestrator that is shining a light on the utility industry and placing the power back in energy consumers’ hands through increased education and transparency. Learn more at enxchange.io.