YTWO Formative and Schneider Electric Announce Successful Signing of Memorandum of Understanding to Enter into a Strategic Partnership

June 22, 2018 - Corporate News

Agreement between YTWO Formative and Schneider marks a new milestone by integrating world’s leading supplier of electrical products onto 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 on the YTWO platform. Schneider, a Fortune 500 company and leading in the digital transformation of energy management and automation, joins YTWO Formative in its vision to transform the global building and housing industries through digitalization and industrialization. As two innovators in their fields, Schneider and YTWO Formative will drive the digital change for the real estate and housing industries, from design to build to operation and maintenance.

The inclusion of Schneider Electric’s products will enable Schneider to benefit from YTWO’s Demand Visibility, which innovatively couples the design stage to the procurement in project execution. 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 & single-family housing) on the YTWO platform. In addition, all products, systems and services Schneider Electric provides as an entire smart home solution will be offered through the YTWO platform.

The cooperation spans all regions and the two parties will work together on developing a total cost of ownership analysis during the project design phase in YTWO. Together, the two parties will use YTWO technology to achieve their target to make houses 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 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%.

About RIB

RIB Software SE is an innovator in construction business. The company creates, develops and offers cutting-edge digital technologies for construction enterprises and projects across various industries worldwide. Its flagship product iTWO 4.0 is the world’s first 5D BIM enterprise cloud solution for construction companies, industrial companies, developers and project owners, etc. Since its inception in 1961, RIB Software SE has been the pioneer in construction innovation, exploring and bringing in new thinking, new working method and new technology to enhance construction productivity, and transforming the construction industry into the most advanced and digitalized industry in the 21st century. RIB is headquartered in Stuttgart, Germany, and listed in Prime Standard Frankfurt Stock Exchange since 2011. With more than 900 talents located in over 30 offices worldwide, RIB is serving 100,000 clients including construction contractors, sub-contractors, developers, owners, investors and governments, in the field of building construction, infrastructure, EPC sector and more.

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