Emerson Electric Co. Acquires Verdant Environmental Technologies
The Fortune 500 company Emerson expands its Energy Management offer to the Hospitality industry with the acquisition of a fast growing Montreal based Company.
Emerson (NYSE: EMR) today announced it has completed the purchase of Verdant, a leader in energy management solutions for the hotel and hospitality industries. The addition of Verdant broadens Emerson’s growing energy management and optimization capabilities for residential and commercial applications.
While the typical hotel guestroom is vacant more than 50% of the time, energy usage remains the second largest operating cost for hotels. Verdant’s products and services combine advanced occupancy and thermal sensing technologies with real-time analytics to ensure optimal energy settings, reducing consumption and maximizing cost savings for hotel operators without compromising guest comfort.
“As the hotel and hospitality industries continue to work toward energy efficiency and minimizing their carbon footprint, having the right technology and software to make this a reality is vital for success,” said Brent Schroeder, group president of heating and air conditioning for Emerson. “This addition of an established and fast-growing commercial energy solutions provider complements our existing digital analytics and broad services capabilities and will also allow us to expand our efficiency offerings to customers in new markets.”
The hospitality and light commercial industries are increasingly seeking opportunities to mitigate energy consumption and reduce operating costs while ensuring comfort. Verdant’s cloud-based intelligence platform, coupled with Emerson’s award-winning portfolio of Sensi products and commercial building controls, is helping both industry and consumers take action for a more sustainable and efficient future.
Verdant, which was named a Deloitte Technology Fast 500 company in 2019, is based in Montreal, Quebec and has about 70 employees.
ABOUT EMERSON
Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial and residential markets. Our Automation Solutions business helps process, hybrid and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Our Commercial & Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency and create sustainable infrastructure.
Forward-Looking and Cautionary Statements
Statements in this press release that are not strictly historical may be “forward-looking” statements, which involve risks and uncertainties, and Emerson undertakes no obligation to update any such statements to reflect later developments. These risks and uncertainties include the outcome and ultimate impact of the review referred to herein, as well as economic and currency conditions, market demand, pricing, protection of intellectual property, cybersecurity, tariffs, competitive and technological factors, among others, as set forth in the Company's most recent Annual Report on Form 10-K and subsequent reports filed with the SEC.
