InteliGlas, a provider of artificial-intelligence products for office buildings, has filed for bankruptcy as a result of a dispute with one of its co-founders and shareholders, WSJ Pro Bankruptcy reported. The Pasadena, Calif.-based company, which serves seven office buildings for four customers, installs smart sensors and software in properties to help bring down utility costs. In a sworn declaration filed on Wednesday in the U.S. Bankruptcy Court in Wilmington, Del., InteliGlas Chief Executive Scott Martin said shareholder and co-founder Robert Granadino had been wrongly taking money out of the businesses. Granadino, who was also its chief operating officer, started another company that provided the same storm-drain maintenance technology offered by InteliGlas, further hurting its business, Martin said. InteliGlas, which installed its first system in 2019, had revenue of roughly $164,000 this year through Wednesday, the date of the bankruptcy filing, according to court documents. That compares with revenues of $342,000 and $395,000, respectively, in the full years of 2022 and 2021.
