JLL Acquires Energy-Efficient Prop-Tech Company
The AI-powered platform, Hank, will operate within the JLL technologies division and will help clients operate more sustainably.
CHICAGO, IL – JLL has acquired Hank, an AI-powered, virtual engineering platform that autonomously optimizes commercial buildings’ management systems in effort to improve air quality, energy savings and comfort.
The Sacramento-based Prop-Tech company’s system applies machine learning and AI to solve operational challenges within the commercial real estate industry, such as HVAC programming inconsistencies and energy and equipment performance inefficiencies.
Hank’s cloud-based platform optimizes energy efficiency, air quality, maintenance costs and tenant comfort to increase net operating income to real estate investors.
Through the acquisition, JLL aims to help clients to operate more sustainably. Hank will operate within the JLL division, JLL technologies.
“Our vision for the future of buildings is automated, AI-powered, smart and sustainable,” states Sharad Rastogi, president at JLL Technologies. “By joining JLL, Hank’s cutting-edge technology presents a major opportunity to drive efficiencies for our clients today and best anticipate the needs of tomorrow. JLL’s acquisition of Hank represents a continued commitment to drive sustainability and embrace technology to shape the future of real estate for a better world.”
Founded in 2016 by Zachary Denning and Jerremy Spillman, Hank begins its work by plugging into an existing building automation system and developing a digital twin of the building in the cloud in order to start learning how it operates. The platform then generates a full systems audit of the building, details potential efficiency adjustments and takes action automatically, autonomously and remotely.
Hank can be deployed in weeks and can drive value that spans energy savings, asset longevity, comfort scores and indoor air quality.
“Having worn many hats in the building management space, we uniquely understand the opportunity to drive impact through smart building technology,” says Denning, CEO of Hank. “We are thrilled to be part of JLL, which has a strong track record of applying technology, like Hank, to solve real estate’s most complex challenges. With JLL, we will have the resources to scale faster to advance healthy, sustainable buildings worldwide.”
Denning will serve as director of sustainability product.
The platform will continue to serve its existing customers, and Hank’s AI-powered technology will now be available to JLL clients to help improve tenant experience and investment returns, while accelerating sustainability goal achievements.