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BGIS and Cresstec take out the prestigious RICS Innovation Award for 2023 with REED.

8th September 2023



BGIS & Cresstec have taken out the prestigious Royal Institution of Chartered Surveyors (RICS) Innovation Award for 2023.


BGIS partnered with innovative company Cresstec to deliver an energy saving technology that utilises Artificial Intelligence for client Australian Government Department of Defence. The technology, called REED, is a retrofittable, refrigerant management and energy saving technology for commercial HVAC and refrigerant equipment. REED works by opening the systems refrigerant circuit allowing for dynamic refrigerant optimisation to perfectly match the demand and environment requirements. REED harvest and stores refrigerant energy normally lost through system operation and uses this energy to save electricity and reduce system wear. REED continually diagnoses, predicts, and notifies stakeholders about possible faults, allowing for proactive maintenance.


Cresstec CEO Ian Nankivell commented. "We are excited to be partnered in this initiative with such a proactive and progressive minded team, who are continuedly seeking innovations and solutions to meet and exceed their clients requirements and expectations in both Green House Gas (GHG) Abatement and energy savings. Our patented REED HVAC-R technology generates significant emissions reductions whilst delivering a favourable ROI for our clients."

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