NaviX Solutions is designed to provide complete lifecycle management of enterprise power and cooling assets.
Schneider Electric launched NaviX, a SaaS business model developed in partnership with the Singapore Economic Development Board, designed to incubate Singapore-based companies with global potential. NaviX Solutions provides comprehensive lifecycle management of enterprise power and cooling assets while providing insight into how these assets are managed sustainably and efficiently, Schneider Electric said. Under an asset-light “as-a-service” model, the company offers enterprises the opportunity to buy out existing power and cooling assets and transition from a capex approach to a open.
Funding for climate-related technologies has soared more than 3,750% since 2013, according to a PwC report, signaling the desire for a new era of clean technology with cheaper and more efficient technology. That’s about three times the growth rate of venture capital investment in artificial intelligence (AI), during a period notorious for its surge in AI investment, the report noted.
“Climate tech” encompasses a wide range of sectors that are taking up the challenge of decarbonizing the global economy, with the goal of achieving net zero emissions by 2050, according to the PwC report. This includes low to negative carbon approaches to reducing key sectoral sources of emissions in the areas of energy, built environment, mobility, heavy industry and food and land use; as well as cross-cutting areas, such as carbon capture and storage, or enabling better carbon management, for example through transparency and accounting.
With the heightened urgency of climate change, the need for new businesses with solutions designed to decarbonize the world has never been more critical.
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NaviX Solutions surveyed more than 150 global companies during its incubation to understand customer challenges and pain points involving the management of critical power and cooling assets, according to Schneider Electric. The as-a-service model emerged from this knowledge and introduces a new approach to managing a customer’s critical power and cooling assets. The goal is to drive business innovation, efficiency and agility while removing risk, the company said.
“NaviX Solutions addresses the critical challenges of an evolving digital economy where power and cooling assets are now business-critical infrastructure,” NaviX Solutions CEO Simon Claringbold said in a statement. “We know that many companies struggle to manage expensive and complex power and cooling assets in terms of capacity and expertise within their company.”
NaviX aims to fill this gap by helping companies move from a risky break-and-fix model to a more strategic manage, maintain, and results-driven approach that supports digital transformation, Claringbold added. “In doing so, our goal is to help businesses deliver greater value and support in growing and resiliency of their business,” he said.
NaviX Solutions is designed to accelerate adoption of Schneider Electric’s digital energy management offerings. “The business creation program we have in place with EDB is a great example of how businesses and governments can work together to create jobs, develop world-changing innovations and build back better,” said Emmanuel Lagarrigue, Chief Innovation Officer of Schneider Electric, in a statement.
NaviX was incubated jointly with EDB New Ventures, the venture capital building arm of EDB.
NaviX Solutions is headquartered in Singapore and the company plans to expand globally, Claringbold said.
“Our role and driving force is to help businesses keep pace with market change while balancing the need to transform in a sustainable way,” he said. “At the same time, we are driving a mindset shift, bringing more visibility to the role these assets play and how to maximize the value they offer.”