Panevo
Panevo provides cloud-based industrial energy management and OEE software (ioTORQ platform with EMIS, LEAN, and UBM modules) plus engineering consulting, serving industrial and manufacturing customers across food & beverage, pulp & paper, rail, and data centers in North America and select international markets via a global integrator network.
- Company typePrivate
- Founded2013
- HeadquartersVancouver, Canada
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Panevo does
Panevo is a Vancouver-based industrial energy management and software company, founded in 2013, that helps industrial and manufacturing operators reduce energy costs, improve production performance, and meet sustainability and ESG targets. The company's core offering is ioTORQ, a cloud-hosted industrial data platform deployed on Microsoft Azure and built around three integrated SaaS modules: ioTORQ EMIS (Energy Management Information System) for real-time energy monitoring, AI-driven anomaly detection, and savings verification; ioTORQ LEAN for Overall Equipment Effectiveness (OEE) monitoring, downtime categorization, and AI-powered production scheduling; and ioTORQ UBM (Utility Bill Management) for automated bill processing and rate optimization across hundreds of utility vendors. The platform integrates with process historians (Ignition, Aveva), PLCs and SCADA via OPC/OPC UA, Accuenergy Acuvim II revenue-grade meters, IIoT gateways, ERP, and BI tools (Power BI), and is monitored under SOC 2 Type I/II, GDPR, CCPA, PIPEDA, and aligned with the NIST AI RMF and EU AI Act. Supporting services — lean manufacturing consulting, site auditing, strategic advisory, project delivery, and utility procurement — wrap the software offering and frequently leverage government and utility incentive programs to offset customer cost.
Panevo serves industrial and manufacturing customers across food & beverage, pulp & paper, transportation (rail), data centers, stone wool, pharmaceutical, automotive, and general manufacturing, with named logos including PepsiCo, a confidential Class I Railroad, a confidential global dairy processor, a confidential North American food processor with 40+ sites, and Muskoka Cabinet Company. The platform monitors 150+ industrial sites across Canada, the US, and Latin America and processes billions of data points daily, with cumulative customer utility savings exceeding $100M and verified carbon reductions exceeding 100,000 tCO2e. The company reports typical EMIS return on investment above 500%, OEE-driven productivity improvements of 5–15%, and AI-driven water savings potential above 10% on PepsiCo snack food lines without capital investment.
Revenue is generated primarily through tiered ioTORQ SaaS subscriptions (Freemium/Pilot, Kickstart, Premium at $180 USD/machine/month, and Enterprise on multi-year contracts), supplemented by professional services for lean consulting, site auditing, strategic advisory, and turnkey project delivery, and by managed services for utility procurement in deregulated markets. Panevo distributes via direct enterprise field sales from Vancouver, Toronto, and Chicago offices; a global network of Silver-tier ioTORQ Integrators across North America, Latin America, India, Europe, China, and New Zealand; and Microsoft Azure Marketplace and AppSource as a Co-Sell partner. The company remains privately held and founder-controlled, with no disclosed venture capital or private equity investment, funding growth instead through project delivery, retained earnings, and non-dilutive grants (notably SDTC $1.5M in 2022 and recurring NGen funding through 2025).
Panevo firmographics
Firmographics- Name
- Panevo
- Legal name
- Panevo Services Limited
- Website
- https://panevo.com
- Company type
- Private
- Founded year
- 2013
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Panevo provides cloud-based industrial energy management and OEE software (ioTORQ platform with EMIS, LEAN, and UBM modules) plus engineering consulting, serving industrial and manufacturing customers across food & beverage, pulp & paper, rail, and data centers in North America and select international markets via a global integrator network.
- Ownership category
- akta.pro rank
Panevo industry classification
Industry- Product category
- Industrial Energy Management Software
- NAICS
- Computer Systems Design and Related Services (54151), Custom Computer Programming Services (541511)
- SIC
- Industrial Instruments For Measurement, Display, And Control (3823), Services-Computer Integrated Systems Design (7373), Services-Computer Programming Services (7371)
- akta.pro primary industry
- Industrial Automation Software (SCADA, HMI, MES, Historian) (IMAHAHAJ)
- akta.pro secondary industries
- Grid Data & Analytics Enablement (MDM, Data Integration, Hosting) (EUAEANAI), Meter-to-Cash / Billing & CIS Integration for AMI (EUADAFAM), Instrumentation, Controls & Automation (DCS/PLC/SCADA, SIS, Metering) (EUAEAFAC)
Keywords
Where Panevo is headquartered
LocationHeadquarters
- HQ city
- Vancouver
- HQ country
- Canada
- HQ region
- North America
Offices3 records
Markets served
Panevo business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Infrastructure, Operations, Marketing or Sales
Revenue model
- ioTORQ SaaS Subscriptions: Panevo generates the majority of recurring revenue through subscription-based ioTORQ software (EMIS, LEAN, UBM), sold in tiered plans (Pilot, Premium, Enterprise) on per-machine/month pricing. Software is delivered as a service on Microsoft Azure with automatic renewal at subscription expiry.
- Lean Manufacturing Consulting Services: Professional engineering and Six Sigma Black Belt consulting for manufacturing process improvement, including scoping audits, project design, OEE software implementation, and stakeholder buy-in facilitation.
- Site Auditing & Energy Consulting: Engineering site auditing services evaluating energy efficiency, utility consumption, and process loss reduction, often partially or fully covered by government and utility incentive programs.
- Utility Procurement Services: Energy brokerage and contract negotiation services for deregulated electricity and natural gas markets, leveraging market insights to secure competitive prices and terms for industrial clients.
- Project Management & Turnkey Delivery: Concept, engineering design, and project management services for industrial energy and process optimization projects, potentially financed through utility incentives or payment plans.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Monthly | Free trial for OEE software evaluation |
| Subscription | Monthly | Kickstart continuous improvement — integrated pilot tier |
| Subscription | Annual | Operational excellence at scale — $180 USD/machine/month |
| Subscription | Multi-year contract | Advanced analytics, AI, and scheduling optimization |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels7 records
Panevo product offering
Product offeringCore offering
Panevo sells the ioTORQ cloud-based industrial data platform comprising three SaaS modules — ioTORQ EMIS for energy management information system, ioTORQ LEAN for real-time OEE and manufacturing monitoring, and ioTORQ UBM for automated utility bill processing. The company complements the software with engineering consulting services covering energy site auditing, lean manufacturing implementation, strategic sustainability advisory, project delivery, and utility procurement for industrial operators.
Product overview
Panevo offers ioTORQ, a cloud-based industrial data platform consisting of three core SaaS modules: ioTORQ EMIS for energy management information system capabilities including real-time monitoring, AI-powered anomaly detection, and environmental compliance; ioTORQ LEAN for manufacturing OEE monitoring, downtime tracking, and production optimization with optional vision-based quality inspection; and ioTORQ UBM for automated utility bill processing and optimization across multiple suppliers. The platform integrates with Acuvim II hardware meters, PLCs, IIoT sensors, process historians (Ignition, Aveva), ERP systems, and BI tools (Power BI) for comprehensive industrial data aggregation and analytics. Supporting services include lean manufacturing consulting, site auditing, strategic advisory, project delivery, and utility procurement. All products carry SOC 2 Type II certification and can be deployed on Microsoft Azure cloud or on-premises infrastructure.
Differentiator
Problem solved
Functional benefit
Brands
- ioTORQ: Industrial data platform for energy management, manufacturing OEE monitoring, and utility bill management. Includes ioTORQ EMIS (Energy Management Information System), ioTORQ LEAN (Manufacturing & OEE Monitoring), and ioTORQ UBM (Utility Bill Management).
Products and services
- ioTORQ EMIS Energy Management Information System software for industrial operators that connects real-time data acquisition from meters, PLCs, and IIoT sensors, monitors resource consumption, identifies savings opportunities, and supports ISO 50001 and environmental compliance reporting with AI-powered anomaly detection and automated alerting.
- ioTORQ LEAN Lean Manufacturing and OEE monitoring platform for production facilities that calculates key manufacturing metrics in real time, detects and categorizes downtime events, identifies continuous improvement opportunities, and includes an AI production scheduling optimization module for maximizing productivity.
- ioTORQ UBM Utility Bill Management software that automates bill ingestion from hundreds of suppliers, validates data, identifies billing errors, optimizes expenditure, and generates reports for corporate sustainability and ESG tracking.
- Lean Manufacturing Consulting Consulting service delivered by Professional Engineers and Six Sigma Black Belt consultants that includes scoping audits, process improvement project design, stakeholder buy-in facilitation, project funding assistance, and ioTORQ LEAN software implementation for manufacturing operators.
- Site Auditing Engineering site auditing service that evaluates cost-effective ways to improve energy efficiency, reduce utility consumption, and minimize process loss, including temporary or permanent metering deployment and a portfolio of low/no-cost actions and capital projects.
- Strategic Advisory Strategic sustainability consulting covering corporate sustainability goal establishment and refinement, emissions reduction roadmap development, financial benefit analysis, ISO 50001 EnMS implementation, and legislative/regulatory risk mitigation.
- Project Management Turnkey project delivery service for industrial energy and process optimization initiatives including concept development, engineering design, and project management, with financing options through utility incentives or payment plans.
- Utility Procurement Energy brokerage and contract negotiation service for deregulated electricity and natural gas markets that leverages market insights to secure competitive prices and terms, manages risk exposure, and provides ongoing market monitoring and reporting for industrial clients.
Quantifiable outcome
- 8% average energy reduction from properly deployed EMIS (NRCan benchmark)
- +7 more outcomes
Companies that use Panevo
Customer profileNamed customers10 records
Segments4 records
Ideal customer profiles3 records
Panevo technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration11 records
AI capability6 records
Feature7 records
Panevo partnerships and signals
Strategic signalPartnerships
15 partnerships are on record, tiered minor, core and silver.
- Muskoka Cabinet CompanyminorPilot installation of edgebanding defect detection system at Muskoka Cabinet Company as part of the Canadian Kitchen Cabinet Association's Advanced Manufacturing Peer Group initiative. System achieved ~97% detection reliability with real-time alerts integrated into ioTORQ LEAN.
- Bimbo CanadacorePanevo advancing AI-driven energy management for industry in partnership with Bimbo Canada and NGen. ioTORQ software evolving to unlock further utility and emissions reduction across industrial facilities.
- PepsiCocoreStrategic collaboration on AI-driven water conservation for snack food processing. Panevo developed machine learning models using PepsiCo production line data to predict and detect water consumption anomalies. Project identified >10% water savings potential without capital investment. Currently being rolled out across multiple PepsiCo sites in North America.
- Microsoft AzurecoreioTORQ SaaS platform hosted on Microsoft Azure (Canada and US) for cloud infrastructure and hosting. Microsoft 365 used for corporate productivity and collaboration. Panevo is a Microsoft One Commercial Partner (OCP) and Co-Sell Partner, with ioTORQ available in Azure Marketplace and AppSource.
- AccuenergycoreAcuvim II power and energy meters from Accuenergy standardized for precision submetering deployments. Integrated with ioTORQ EMIS via HTTPS protocol for real-time data collection. Accuenergy provides revenue-grade (ANSI C12.20 Class 0.2 accuracy) metering for tenant billing and energy analysis applications.
- Kshivanya AutomationsilverSilver-tier ioTORQ Integrator based in Pune, India, deploying and supporting ioTORQ platforms for industrial clients in the Indian market.
- BR OtimizasilverSilver-tier ioTORQ Integrator based in Bahia, Brazil, deploying and supporting ioTORQ platforms for industrial clients in Brazil.
- AnphorasilverSilver-tier ioTORQ Integrator based in San José, Costa Rica, deploying and supporting ioTORQ platforms for industrial clients in Central America.
- SutraNova VenturessilverSilver-tier ioTORQ Integrator based in Bangalore, India, deploying and supporting ioTORQ platforms for industrial clients in the Indian market.
- TIA TechnologysilverSilver-tier ioTORQ Integrator based in Bangalore, India, deploying and supporting ioTORQ platforms for industrial clients.
- DVConsultingsilverSilver-tier ioTORQ Integrator based in Porto, Portugal, deploying and supporting ioTORQ platforms for industrial clients in Europe.
- Energy NZsilverSilver-tier ioTORQ Integrator based in Auckland, New Zealand, deploying and supporting ioTORQ platforms for industrial clients in the ANZ market.
- Transom ColombiasilverSilver-tier ioTORQ Integrator based in Bogotá, Colombia, deploying and supporting ioTORQ platforms for industrial clients in Colombia.
- LongevitysilverSilver-tier ioTORQ Integrator based in Beijing, China, deploying and supporting ioTORQ platforms for industrial clients in the Chinese market.
- ElectroNetsilverSilver-tier ioTORQ Integrator based in Bogotá, Colombia, deploying and supporting ioTORQ platforms for industrial clients.
Scale indicators9 records
Recent moves9 records
Expansion highlights6 records
Panevo competitors and assessment
Company assessmentDirect peers
- Sight Machine: Sight Machine is a manufacturing analytics platform focused on real-time OEE, production data, and AI for factory operations. It is the closest direct competitor to Panevo's ioTORQ LEAN, serving similar industrial customers (F&B, discrete manufacturing) with cloud-based production analytics.
- EnergyCAP: EnergyCAP provides energy and sustainability management software for commercial, institutional, and industrial facilities, including utility bill management and energy benchmarking. It competes directly with ioTORQ EMIS and UBM in the facility-side energy analytics category.
- Uptake: Uptake is an industrial AI platform serving asset-heavy industries with predictive analytics, energy optimization, and operational intelligence. It overlaps with Panevo's ML-driven anomaly detection and production-normalised forecasting capabilities.
- Verdigris Technologies: Verdigris provides AI-powered energy monitoring for commercial and industrial facilities, including submetering and anomaly detection. It is a comparable emerging peer in the EMIS-adjacent energy analytics space, though with a heavier focus on facilities than discrete manufacturing.
Broad incumbents
- C3.ai: C3.ai is a broad enterprise AI platform with energy management, sustainability, and industrial applications as major verticals. It competes with Panevo in industrial energy AI but at much larger scale, different price points, and a wider industry footprint.
- Schneider Electric (EcoStruxure): Schneider Electric's EcoStruxure platform bundles energy management, industrial automation, and analytics for industrial customers. It is a broad incumbent that competes with ioTORQ as part of a much larger portfolio of OT/IT products.
- Honeywell Forge: Honeywell Forge offers enterprise energy management, sustainability reporting, and connected operations software for industrial and commercial customers. It is a broad incumbent with overlapping EMIS, carbon reporting, and operational analytics capabilities.
- Siemens Digital Industries (MindSphere / EnergyIP): Siemens offers industrial IoT (MindSphere), AMI/meter data management (EnergyIP), and broader industrial software that overlaps with ioTORQ's EMIS, OEE, and UBM modules. Competes as part of Siemens' wider automation and digital industries portfolio.
- Aspen Technology: Aspen Technology provides industrial AI and asset performance software for process industries, with overlaps in energy management and production optimization for chemicals, power, and manufacturing customers.
Others
- JLL (Corrigo) / Engie / Enel X: Enel X and adjacent energy service companies provide utility bill management, energy procurement, and demand response services that overlap with ioTORQ UBM and Panevo's utility procurement offering, but they are energy retailers/aggregators rather than software-first peers.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Panevo social profiles
Digital presencePanevo compliance and trust
Trust signalCompliance7 records
Panevo financial estimates
Financial estimateRevenue estimate
Valuation estimate
Panevo leadership team
Management profileNumber of profiles
Profiles1 record
Panevo funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Panevo M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Panevo
What does Panevo do?
Panevo sells the ioTORQ cloud-based industrial data platform comprising three SaaS modules — ioTORQ EMIS for energy management information system, ioTORQ LEAN for real-time OEE and manufacturing monitoring, and ioTORQ UBM for automated utility bill processing. The company complements the software with engineering consulting services covering energy site auditing, lean manufacturing implementation, strategic sustainability advisory, project delivery, and utility procurement for industrial operators.
Is Panevo a public or private company?
Panevo is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Panevo founded?
Panevo was founded in 2013. It employs 11 to 50 people.
Where is Panevo based?
Panevo is headquartered in Vancouver, Canada, in the North America region.
How does Panevo make money?
Five revenue lines are on record. ioTORQ SaaS Subscriptions are the primary driver. The others are lean Manufacturing Consulting Services, site Auditing & Energy Consulting, utility Procurement Services and project Management & Turnkey Delivery.
Who are Panevo's main competitors?
Direct peers on record are Sight Machine, EnergyCAP, Uptake and Verdigris Technologies. Broad incumbents are C3.ai, Schneider Electric (EcoStruxure), Honeywell Forge, Siemens Digital Industries (MindSphere / EnergyIP) and Aspen Technology. JLL (Corrigo) / Engie / Enel X is listed as an others.
Does Panevo have an API?
No public API is recorded for Panevo.
What industry is Panevo in?
Panevo's product category is Industrial Energy Management Software. Its primary akta.pro industry code is IMAHAHAJ, Industrial Automation Software (SCADA, HMI, MES, Historian), with a secondary code of EUAEANAI, Grid Data & Analytics Enablement (MDM, Data Integration, Hosting). Its NAICS code is 54151 and its SIC code is 3823.