The growth markets sustainable infrastructure investor Actis has purchased a 100% share in Barghest Building Performance (bbp), a Singapore-based energy-savings-as-a-service (ESaaS) supplier for HVAC systems in Asia.
Actis said in a statement on Tuesday that the investment will allow BBP to take on bigger projects in order to further boost its growth.
By combining patented software, proprietary knowledge, sensors, and controllers, Bbp offers cutting-edge energy efficiency solutions that seek to unlock up to 40% energy savings.
The company’s platform is enhanced by artificial intelligence (AI) and machine learning, which are modeled using actual data from over 400,000 refrigeration tons (RT) of cooling systems that BBP has optimized across nine Asian markets.
Using its in-house expertise, BBP not only optimizes current cooling systems but also upgrades specific customer equipment to increase potential savings at a lower capital cost.
The company usually provides funding for the implementation of its optimization solutions and the upgrading of HVAC equipment for its clients, allowing asset owners and operators to concentrate on their core skills while saving money and lowering carbon emissions.
The company provides services to hospitals, data centers, district cooling plants, pharmaceutical and semiconductor manufacturing, and commercial buildings.
Three of the top ten semiconductor manufacturers in the world, Fortune 500 businesses, and some of the top 20 commercial real estate companies in Asia are among its clientele.
Customers have saved about $92 million and avoided 312,000,000 kg of CO2e thanks to bbp’s services.
The statement claims that Actis’ investment intends to take advantage of the macro-tailwinds in Southeast Asia’s energy efficiency market, where companies are looking to improve their energy efficiency in order to lower expenses and carbon emissions and to comply with legal requirements.
The Minimum Energy Efficiency Standards (MEES) for chilled water systems in industrial facilities have been established by Singapore’s National Environment Agency. Energy-intensive facilities, like those used in semiconductor manufacturing, must comply with MEES by December 2025.
The deadline for meeting the new requirements is December 2029 for other industrial facilities, including those in the pharmaceutical industry.
“Cooling systems can be very energy intensive and bbp’s Energy-Savings-as-a-Service offering has a key role to play to help businesses reduce their costs and carbon emissions,
“Energy efficiency is key to decarbonization and we’re delighted to be acquiring an innovative leader in this field with bbp. We believe it has a bright future ahead of it and we look forward to accelerating its growth,” said Asanka Rodrigo, Partner, Energy Infrastructure at Actis.
