Market Overview

Edison Properties Expands Deployment of Logical Buildings' SmartKit AI™ Energy Savings Software from One to Six Facilities

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New York's leading storage provider expands use of SmartKit AI to
increase energy savings and enroll in NYSERDA and Con Edison programs
that open new revenue streams.

Logical
Buildings
, formerly Energy Technology Savings (ETS), a smart
building software and solutions company that creates real-time
transparency and data-driven insights for building operations, today
announced that Edison Properties LLC (owner of self-storage company
Manhattan Mini Storage) has expanded the Logical Buildings SmartKit AI™
technology from one to six sites in New York City. This will further
reduce Edison Properties' energy costs while easing stress on the
electric grid with a virtual power plant (VPP)–a network of buildings
with the capacity to quickly reduce their electricity demand using
SmartKit AI. This newly-created VPP will provide demand reduction when
it is needed most—like when regional electricity demand is highest
during heat waves—while also opening opportunities to trade or sell this
supplemental capacity on the open market.

SmartKit AI, in combination with Internet of Things (IoT) sensors and
other hardware, unifies monitoring and control of a building's
energy-consuming equipment onto a single platform. The user-friendly
SmartKit AI mobile app (available for Android
and iOS)
empowers building staff, from owners to managers, to monitor energy use,
make energy-saving decisions from anywhere and collect rewards when they
do. Logical Buildings' real-time technology platform enables Edison
Properties to receive government and utility incentives on the
installation and maintenance of the system from the New York State
Energy Research and Development Authority (NYSERDA) Real
Time Energy Management
(RTEM) program and the Con Edison Demand
Management Program
(DMP). After one year of working with Logical
Buildings to address high energy costs at its largest property, Edison
Properties staff achieved an approximately 10 percent reduction in
electricity consumption and a 25 percent reduction in electricity
expenditures.

"Through the savings we achieved working with Logical Buildings and the
programs and rebates their products made available to us, we were able
to see a payback on our investment in the hardware and software in less
than a year," said Greg Maser of Edison Properties. "We're now looking
to scale the return we generate from advanced energy management by
rolling it out across more buildings in our commercial portfolio."

The SmartKit AI platform creates and integrates data from Edison
Properties' electricity-consuming equipment with external signals from
the electric grid, such as demand response and other time-of-use price
indicators, to curb energy consumption when rates are highest. During a
record heatwave in early July, SmartKit AI received stress signals from
both the New York State grid operator and Con Edison and responded by
reducing the building's electricity consumption by 40 percent,
generating demand response revenue for Edison Properties. The platform
also provides 24/7 optimization of HVAC systems, reducing energy
consumption on a daily basis.

"Our incentives can in many cases offset more than 70 percent of the
costs of an energy upgrade to a building," said Vicki Kuo, Director of
Energy Efficiency and Demand Management of Con Edison. "We congratulate
Edison Properties and Logical Buildings for successful upgrades and
controls technology investments that save energy, money and empower our
customers to manage demand."

"NYSERDA's Real Time Energy Management program is designed to accelerate
the adoption of smart buildings and help customers unlock the full value
of energy efficiency," said Michael Reed, NYSERDA RTEM Program Manager.
"Projects like this one between Logical Buildings and Edison Properties
are a great example of how companies and customers can work together to
leverage real-time data to reduce costs, decrease greenhouse gas
emissions and help create a more sustainable future."

"Businesses and building owners have an untapped opportunity to become
energy providers and generate revenue while cutting operating costs,"
said Logical Buildings CEO Jeff Hendler. "We see Edison Properties'
success as a powerful symbol of the new Logical Buildings brand and look
forward to creating similar success stories for commercial and
multifamily residential buildings as our company continues to grow in
the New York metro area and beyond."

Click
here to download the Edison Properties case study.

About Logical Buildings

Logical Buildings (formerly Energy Technology Savings or ETS) is a smart
building software and solutions company that helps reduce energy and
operating costs, achieve sustainability goals and improve tenant comfort
for multifamily and commercial properties. Logical Buildings' software
platform, SmartKit AI, creates and applies property-specific data to
influence the behavior of property managers and convert energy savings
opportunities into higher net operating income and net asset values for
existing buildings and those under development. Built by energy and
telecommunication systems engineers and our shareholders – owners and
developers of more than $10 billion of multifamily and mixed-use
properties – Logical Buildings is committed to growing your building's
revenue while reducing its energy costs and enhancing tenant lifestyle.
For more information, visit www.logicalbuildings.com.

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