Ecoplant Founder -CEO Aviran Yaacov, Moti Yakov and CTO Yaron Harel (Facebook)
Ecoplant, an Israeli startup that develops new technologies to increase energy efficiency and thereby reduce air pollution, is getting bought out by the major American industrial corporation Ingersoll Rand, reported Calcalist. The deal is said to be worth $50 million.
Climate change is real and it is getting worse. One way to do something about the problem is the reduction of greenhouse emissions and Israel Startup Nation has been working hard to do just that. Firms like Ecoplant do so by finding ways to reduce energy usage.
Ingersoll Rand is a global provider of innovative and mission-critical air, fluid, energy and medical technologies, providing services and solutions to increase industrial productivity and efficiency. Since merging with Gardner Denver in early 2020, the company has more than 300 years of combined experience and innovative expertise. Ingersoll employs more than 17,000 people and has a market cap of $25 billion.
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The company’s acquisition of Ecoplant came at the same time as Ingersoll Rand acquired Howden Roots LLC from Chart Industries, Inc. for an all-cash purchase price of approximately $300 million. That acquisition is expected to close in the third quarter 2023 upon obtaining the required regulatory approvals. Upon close, Roots will join Ingersoll Rand’s IT&S segment.
Founded in 2016 by CEO Aviran Yaacov, Moti Yakov and CTO Yaron Harel, Ecoplant is a cloud-based SaaS platform that integrates with compressed air systems to increase energy efficiency and reduce factory downtime. Ecoplant boasts that it provides an A.I.-based automated platform to improve clients’ production lines and “make it simpler to do better business. With an emphasis on efficiency and cost-savings, we partner with industry leaders and top tier customers to create a truly disruptive technology that will change the way we own and operate air systems.”
“The systems that generate compressed air are one of the largest energy users in a plant, accounting for up to 30% of the site’s overall electricity usage,” Aviran Yaacov once commented. “The Ecoplant 360 system is designed to continuously monitor compressed air usage, learn plant demands and adjust as needed to optimize efficiency and increase savings potential.”
