Cleantech Invest portfolio company Enersize receives first larger customer payment from revenue sharing project in China
Cleantech Invest portfolio company Enersize, of which Cleantech Invest owns 44%, has during the last year implemented its cloud-based energy saving software for compressed air systems at several large scale industrial sites in China. The business model of Enersize is to share the profit from achieved energy savings with the customers during a 3-4 year contract period.
Enersize’s first major customer to enter into the revenue sharing phase is one of the worlds largest flat screen manufacturers, Bejing Opto Electronics (BOE). Enersize has now received the first 300 000 EUR payment based on accomplished energy savings. The total expected income for Enersize during the BOE contract period alone is estimated to exceed 1.2 MEUR.
Enersize sees the received payment is as an important reference for a number of reasons. It shows that Enersize contract model works well in China; As agreed milestones are met, payments happen. Second, the customer itself is important; BOE has several other large scale manufacturing plants, where this installation acts as a pilot for implementing Enersize system at other BOE sites. Finally, the successful project acts as an important reference towards other future customers.
Enersize CEO, Sami Mykkänen :
We think this milestone proves that we have hit the sweet spot we were aiming at with our focus on China. In the manufacturing heavy China, these compressed air systems account for almost 10% of the total electricity consumption, compared to 5% globally. With typically 15-30% savings from an annual 2-7 MEUR energy bill, there is both a huge financial gain as well as a strong environmental upside for our customers. From now on we also have solid proof that our business model works al the way to receiving payments.
Cleantech Invest CEO Alexander Lidgren:
We have known for a while that Enersize has a huge potential for Cleantech Invest once the revenue sharing projects start paying off and could not be happier to see it now start to happen. This is a big deal for us as we are the major shareholder in Enersize with 44% ownership and have also taken an active role in securing project financing for these revenue sharing projects. CEO Sami Mykkänen has been living in a suitcase last years building relations, doing pre-studies and signing several contracts with large Chinese clients, we are very happy to see the hard working efforts by the entire company start paying off and have high expectations for the coming years.
Alexander Lidgren, Managing Director of Cleantech Invest Plc. Tel. 46 73 660 1007, firstname.lastname@example.org
Christian Merheim, Executive Chairman of the Board, Enersize Oy. Tel. +46 70 818 2853, email@example.com
Access Partners Oy, Certified Advisor. Tel. 358 9 682 9500
Enersize is a technological leader in compressed air energy savings through proprietary technology and unique expertise. Enersize business model is to implement energy savings projects with a risk based approach where Enersize receives a revenue sharing based on actual customer savings. Industrial compressed air systems use app. 5% of global electricity, causing emissions comparable to 80 Million cars. Enersize is a Finnish company with its main customer base in China.
Cleantech Invest in brief
Cleantech Invest is a Nordic accelerator with investments in growth companies that solve global challenges. The portfolio companies are active in energy- and resource efficiency as well as decentralized renewable energy and are based in Finland, Sweden and Germany. The company management consists of company builders and investors who have been active within the cleantech space for over a decade.The company is listed on First North Finland under the ticker CLEAN and on First North Stockholm under the ticker CLEANT A.