Smart water management company Banyan Water and LivCor, a portfolio company of global asset manager Blackstone, have deployed Banyan’s Smart Irrigation product at more multi-family properties in several states, including drought-plagued California.
Since the implementation of Banyan’s water management systems at LivCor properties in Texas began last year, LivCor has realized a savings of 42.8 million gallons of water across a portfolio of multi-family communities.
With the expanded deployment of the Smart Irrigation system to six additional properties in California, North Carolina and Colorado, LivCor expects to achieve a savings of 75.8 million gallons of water over the next year, averaging 4.5 million gallons per property.
Banyan Water provides full water management services to the expanding portfolio of LivCor properties, incorporating real-time water use data, a proprietary web platform and remote monitoring and control capabilities. LivCor and Banyan Water are currently assessing opportunities to expand the use of these technologies to additional properties in other states, including Florida, Tennessee, Kentucky, Illinois, Massachusetts and Oregon.
In May Banyan Water introduced SmartRate, a water management tool for commercial users that translates water consumption into dollars spent and allows full visibility into the financial impact of water use.