RBS has selected Tantallon Systems Ltd as a finalist in the Innovation Gateway; a major international search for new ways of reducing energy, water and waste.
Launched in March this year, the RBS Innovation Gateway attracted more than 140 submissions in just 40 days, from brand new concepts through to market-ready products and services, from innovators and small businesses (SMEs) around Britain and the world, from Perth in Scotland to Perth in Western Australia.
The best ideas will be tested on the RBS estate of 2,500 buildings and branches across the UK.
The idea submitted by Tantallon Systems relies on the use of machine intelligence to control, reduce and optimize the energy use in buildings.
Martin Jones, CEO at Tantallon Systems said: “We are thrilled and delighted to be selected by RBS as a finalist in the RBS Innovation Gateway. We are greatly honoured to have come through in such distinguished company and consider that this serves to recognise the enthusiasm, commitment and hard work that all at Tantallon have poured into our company and its product. It provides a real opportunity for Tantallon to demonstrate how its EnergyFusion™ system can assist the RBS in its enlightened energy efficiency programme by reducing the energy usage across its estate.”
Over the last six months an independent panel of experts from academia and business has worked with RBS to analyse each submission, to assess the positive impact they could make in driving resource efficiency if the innovation was installed on the RBS estate.
Announcing the Finalists, Marcela Navarro, Head of Customer Innovation at RBS, who is leading the Innovation Gateway initiative, said: “Everyone connected with the RBS Innovation Gateway has been blown away by the innovators’ creativity and dedication to resource efficiency. The quality and the range of ideas have been phenomenal.”
“Our world-class panel of subject-matter experts have brought their knowledge and passion to the Gateway, carefully assessing each submission. We are delighted to say that 97% of all submissions were reviewed by at least five experts in the Innovation Panel.”
Being named as a finalist takes Tantallon just one step away from seeing their innovation installed by RBS. The company will now travel to RBS’ London headquarters on 10 November, to go before a Dragon’s Den style team for one final pitch.
Successful, market ready ideas will be tested in RBS buildings and branches. All successful concepts will be given a £3,000 grant, to develop their idea further before any possible test on the RBS estate.
The bank’s property portfolio in the UK is made up of 2,235 branches, just over 300 large offices, 42 industrial sites and 5 data centres. As a major bank with 17 million UK customers, 115,000 employees and a large estate of new and historical buildings, RBS’ footprint is significant.
John Hayes, head of corporate services at RBS, says: “The RBS estate is a diverse mixture of over 2,500 buildings from retail units to data centres. The business issue we’ve had over the last 10 years is the huge increase in energy costs, more than doubling and forecast to carry on doing.”
Martin Jones said: “EnergyFusion™ is a unique next-generation energy management system which reduces and optimizes the use of energy in commercial buildings. It brings together Information technology and machine intelligence to drive down energy usage and costs. This novel approach provides a powerful tool to assist RBS in their quest for carbon neutrality across their estate. Tantallon is focused on developing innovative solutions based on digital technology that will make a difference in the war against increasing energy costs in buildings.”
RBS recognises that companies like Tantallon can play a major role in addressing the bank’s challenges around resource efficiency. Like all major companies, RBS is now focused on reducing how much its spend on lighting, heating, cooling and paper use for example. But the bank knows there are limits to what it can achieve using today’s technology. By offering its estate as a giant test bed and by using the bank’s vast corporate network RBS wants to help leverage innovation and fast track progress.
Prof. Doug Crawford Brown from Cambridge University, who sits on the RBS Innovation Gateway panel which selected Tantallon as a Finalist, confirmed how vital innovation is for people and the planet: “While there are solutions to a low carbon world available, many remain costly and ineffective. Innovation in materials and energy are therefore crucial to the world’s sustainability goals.”
RBS calculated that the products and services currently on the market would only help them reach around 25% of their goals. This led RBS to reach out to innovators and SMEs like Tantallon around the UK in search of brand new ideas to test and install on their buildings and branches.
Martin Jones said: “The concept behind the RBS Innovation Gateway programme is remarkable in that it offers the opportunity to test and evaluate novel ideas on its estate. This clearly gives the bank the opportunity to select from the very latest and best technologies but it also provides young innovative companies the opportunity to trial their innovations in a full commercial setting and the opportunity to cross the commercialisation gap that is a huge obstacle to new start-ups. For a company like ours it is an invaluable opportunity.”
The RBS Innovation Gateway has three aims; as well as helping RBS save more energy, water and waste, the project is designed to cultivate unique and awe-inspiring innovations and help local inventors accelerate their access to market.
Martin Jones said: “Being a finalist and potential supplier to RBS opens up a tremendous opportunity to work with a company with a global stature and to refine our solution along their line of need. It provides us with a superb platform to launch our product to the market. ”
The RBS Innovation Gateway is an ongoing scheme. For information and details on how to apply please visit: http://www.innovationgateway.rbs.com
Martin Jones is available for interview, quotes and pictures. To arrange to speak or visit today please contact on the numbers and email below.
T: +44 1506 592 129
M: +44 7866 370 754
To find out more about the RBS Innovation Gateway story so far, visit the Innovation Gateway Vimeo channel. https://vimeo.com/channels/751278. Here you will find a range of video content which can be used for background information and quotes.