TROY HARVEY, CEO OF PASSIVELOGIC - INTERVIEW WITH WBM TOP 100 INNOVATION CEO
TROY HARVEY, CEO OF PASSIVELOGIC HAS BEEN SELECTED BY THE JUDGES OF WORLD BIZ MAGAZINE'S ANNUAL AWARDS TO BE A RECIPIENT OF THE TOP 100 CEOS IN INNOVATION AWARD 2021. THIS SELECTION FOLLOWS A STRINGENT PROCESS THAT EVALUATED OVER 40,000 NOMINEES TO SELECT THE EXCLUSIVE LIST OF 100 WINNERS.
Troy Harvey co-founded and leads PassiveLogic. He is an American technologist and entrepreneur. PassiveLogic is developing the market’s first platform for Autonomous Buildings.
As the co-founder and CEO of PassiveLogic, Troy leads the product design, engineering and manufacturing of the company's autonomous systems platform, deep physics computation engine, and digital twin standard. Troy has led companies and teams developing products in the consumer, industrial, and computer industries, including several award-winning high performance buildings. His expertise spans building science, AI tool chain development, embedded IoT systems, and control theory.
PassiveLogic has had a tremendously successful start on the market, share with us some of the recent highlights.
In the last year we have achieved the following:
Closed a Series A funding round of $16M. Oversubscribed.
Building out a test and training area as part of the PassiveLogic office.
Launched beta of digital twin standard for describing buildings (Quantum) in Q1 2021.
First run of engineering samples of sensor product (Swarm Touch).
Built out team: Technical leaders from Facebook, Google, Samsung. Commercial leaders from Honeywell and Dell.
Signed a three way proof of concept deal backed by $2.5M in products with one of the world’s leading professional services companies.
Engaged with channel partners to sell PassiveLogic equipment throughout the United States, resulting in $120M in LOIs to purchase product over the next 4 years.
How is PassiveLogic transforming building technology?
PassiveLogic was founded on the concept of innovation in the Buildings industry, a market that has been up to this point very slow on the path to digitalization. We have reinvented automation to replace legacy control logic and hardware with real-time autonomous decisions at the edge, paving the way for integrated smart cities and reducing the world’s carbon footprint. Here are some examples:
22 provisional patents. 51 patent pending. 5 granted.
Applied our approach to automation in alpha sites, achieving on average 30% energy savings
We are speeding up model-predictive control so that it can be commercialized and scale in real world applications. We are seeing simulation benchmarks performing 10MX ifaster than the current industry standard.
Why does PassiveLogic's offering stand out in its space?
Buildings are surprisingly complex, with thousands of inputs and outputs that influence human comfort, energy efficiency, intended use cases, and equipment longevity. PassiveLogic is working on technology that enables customers to conquer that complexity and deliver spaces that are both comfortable and energy efficient. Our solution allows customers to manage their buildings with their existing team, without needing highly skilled and costly experts — expanding the marketplace for intelligent, efficient buildings beyond the top few percent that can currently afford costly automation.
"Our solution directly supports reduction of the world’s carbon footprint, without having to replace and waste existing mechanical equipment."
How does PassiveLogic impact sustainability?
PassiveLogic’s core offerings, with a focus on technology inclusion and energy efficiency, are inherently designed for the betterment of society. Our solution directly supports reduction of the world’s carbon footprint, without having to replace and waste existing mechanical equipment. We expect to be a central part of the plan other companies implement to attain their own environmental social responsibility goals. We will use our own solution, but have not set internal targets as of yet.
What aspects of building automation within buildings is PassiveLogic's technology aiming to improve performance and efficiency in?
We are targeting the transformation of the role of automation throughout the Buildings industry. Our technology will help organizations deliver on digital transformation in the Built world. Our platform starts with better HVAC control, but goes well beyond this to support the wider ecosystem of IoT devices, digital systems, and enterprise initiatives. Building automation is no longer just about HVAC — it is the core organizing intelligence for all systems in the built environment.
How do you approach leadership?
I believe in a flat organization, which inherently elevates employees’ level of responsibility in an organization. Without many layers, communication and decision making is faster. Everyone regardless of title, rolls up his or her sleeves to get work done and meet milestones together.
For more information on PassiveLogic, please visit their website: www.passive-logic.com