YTWO Formative and Schneider Electric Announce Successful Signing of a Memorandum of Understanding to Form a Strategic Partnership
An agreement between YTWO Formative and Schneider Electric marks a new milestone for both companies through the integration of the world’s leading supplier of electrical products onto the YTWO platform.
Hong Kong, June 22, 2018
YTWO Formative and Schneider Electric have announced the successful conclusion of a Memorandum of Understanding to integrate Schneider Electric’s portfolio of electrical products with the YTWO platform. Schneider, a Fortune 500 company and a leader in the digital transformation of energy management and automation, joins YTWO Formative on its mission to transform the global building and housing industries through digitalization and industrialization. As two innovators in their respective fields, Schneider and YTWO Formative will jointly drive the digital change for the real estate and housing industries, through the design, building, operation, and maintenance phases.
The addition of Schneider Electric’s products will enable Schneider to access and benefit from YTWO’s Demand Visibility, which couples the design phase with the procurement phase of the project execution process. Schneider, known for its innovative management of its 207 manufacturing plants in 44 countries, will offer its entire range of products with applications in the residential housing space (multi-family and single-family housing) on the YTWO platform. Furthermore, all products, systems and services that Schneider Electric provides via its smart home solutions will be offered through the YTWO platform.
The cooperation spans across all regions, and the two parties will work together on developing a total cost of ownership analysis during the project design phase in YTWO’s environment. Together, the two parties will use YTWO’s technology to achieve their target to make housing more affordable, smart and eco-friendly through new technologies, products and systems.
About Schneider Electric
Schneider Electric is leading the Digital Transformation of Energy Management and Automation in Homes, Buildings, Data Centers, Infrastructure, and Industries. With a global presence in over 100 countries, Schneider is the undisputable leader in Power Management – Medium Voltage, Low Voltage and Secure Power, and in Automation Systems. Schneider provides integrated efficiency solutions, combining energy, automation, and software. In Schneider’s global Ecosystem, they collaborate with the largest Partner, Integrator and Developer Community on their Open Platform to deliver real-time control and operational efficiency.
About YTWO Formative
Established in 2016, YTWO Formative is a joint venture of RIB, the world’s leading web-based 5D BIM enterprise solution provider, and Flex, the global supply chain management solutions provider. Combining digitalization and industrialization, YTWO Formative offers a fully integrated end-to-end cloud-based 5D BIM enterprise platform to support the building and housing industries worldwide. The digitalized and industrialized working process can generate savings and benefits of up to 30%.