Bank of America makes a strategic investment in Philadelphia-based technology and services company Field Diagnostic Services, Inc. (FDSI), and plans to deploy the firm’s energy management system in thousands of banking centers nationwide to reduce greenhouse gas emissions and cut energy costs.The investment is part of Bank of America’s $20 billion, ten-year environmental commitment to promote sustainability in its operations and through its lending, investing and new products and services, said Richard Cohen, who leads environmental investments for Bank of America’s Strategic Investments Group.
“Bank of America is actively making strategic investments that reduce greenhouse gas emissions while helping spark the new environmentally sustainable economy, and our partnership with FDSI is an excellent example of this strategy,” says Cohen. “Our collaboration with the Bank’s Corporate Workplace group to make the investment in FDSI takes this new energy-saving technology out of the laboratory and to a level that can truly impact the environment as well as our bottom line.”
Bank of America, which recently began installation of a new centralized energy management control system, plans to utilize FDSI’s unique products and services in 3,300 banking centers nationwide. This will result in up to 50% cost savings for Bank of America when compared with using standard building control technologies. The FDSI software platform is also forecast to reduce annual greenhouse gas (GHG) emissions from the banking centers by an estimated 14,000 CO2 tons annually.
“There are nine million commercial heating and cooling units in the US that can benefit from our technology, enabling businesses to save money and meet their sustainability goals,” says Todd Rossi, president, Field Diagnostic Services, Inc. “Aided by the support from Bank of America, we are pleased to bring our clean technology solutions to the broader marketplace.”