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Schneider Electric has launched NaviX, a SaaS business model developed in partnership with the Singapore Economic Development Board, that is designed to incubate Singapore-based companies with global potential. NaviX Solutions provides full lifecycle management for enterprise power and cooling assets while delivering insights into how these assets are managed sustainably and efficiently, Schneider Electric said. Under an asset light ‘as-a-service’ model, the company gives enterprises the option to buy back existing power and cooling assets and transition from a capex to opex approach.

Funding for climate-related technologies has soared more than 3,750% since 2013, according to a PwC report, signaling the desire for a new era of clean tech with cheaper, more efficient technology. This is on the order of three times the growth rate of venture capital investment into artificial intelligence (AI), during a time period renowned for its uptick in AI investment, the report noted.

“Climate tech” encompasses a broad set of sectors that tackle the challenge of decarbonizing the global economy, with the aim of reaching net-zero emissions before 2050, the PwC report said. This includes low-to-negative carbon approaches to cut key sectoral sources of emissions across energy, built environment, mobility, heavy industry and food and land use; plus cross-cutting areas, such as carbon capture and storage, or enabling better carbon management, such as through transparency and accounting.

With the increased urgency of climate change, the need for new businesses with solutions designed to decarbonize the world has never been more critical.

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NaviX Solutions interviewed more than 150 global companies during its incubation to understand customer challenges and pain points involving the management of critical power and cooling assets, according to Schneider Electric. The as-a-service model emerged from these insights and introduces a new approach to the management of a customer’s critical power and cooling assets. The goal is to drive commercial innovation, efficiency and agility while removing risk, the company said.

“NaviX Solutions addresses critical challenges in an evolving digital economy where power and cooling assets are now business-critical infrastructure,” said NaviX Solutions CEO Simon Claringbold, in a statement. “We know that many companies are struggling to manage costly and complex power and cooling assets in terms of capability and expertise within their business.”

NaviX aims to address this gap by helping enterprises move from a risky break-and-fix model to a more strategic manage, maintain and outcome-driven approach that supports digital transformation, Claringbold added. “In doing so, our goal is to help companies deliver greater value and support in their business growth and resilience,” he said.

NaviX Solutions is designed to accelerate the adoption of Schneider Electric’s digital energy management offerings. “The venture creation program we have built together with EDB is a great example of how corporations and governments can work together to create jobs, develop world-changing innovation and build back better,” said Emmanuel Lagarrigue, chief innovation officer of Schneider Electric, in a statement.

NaviX was jointly incubated with EDB New Ventures, the corporate venture building arm of the EDB.

NaviX Solutions is headquartered in Singapore, and the company plans to scale globally, Claringbold said.

“Our role and driving force is to support companies to keep pace with market change while balancing the need to transform sustainably,” he said. “At the same time, we are driving a mindset change, bringing more visibility to the role these critical assets play and how to maximize the value they deliver.”