Enersize 's first project with Hankook in China has been implemented with very positive results
This is a translation of previously released news. Enersize Oyj ("Enersize" or the "Company") today announces that the project reported by the company on 24 June 2019 with title "Enersize Oyj receives orders from Chinese Hankook for full-scale projects after successful pilot", has been implemented with great success. The project has so far resulted in reduction in the consumption of compressed air of about 25% after the repair of over 1500 leaks using LEAQS which means an annual savings of over SEK 7M and 6000 tons of CO2 per year for the factory with a payback period of under 2 months. The full-scale project was carried out in July 2019 in cooperation with Adenergy, which is a wholly owned subsidiary of Aden Services, one of the major facility management companies in China, with which Enersize signed a Letter of Intent regarding strategic cooperation (published July 5, 2019 with title "Enersize has signed a letter of intent with Adenergy, a leading Chinese facility management company" ).
Enersize offers the world-leading cloud service LEAQS which in a structured way ensures fast and efficient implementation of leakage management of compressed air systems. The company also offers the world-leading monitoring and analysis software Q+ for compressed air systems, which has previously been installed at Hankook in Jiaxing. The order from Hankook, which was placed in June 2019 incorporated both licenses to LEAQS and Q + for a one-year period as well as leak detection on the entire compressed air system, and also training of Hankook's technicians.
The repairs and savings of energy obtained with LEAQS have been recorded and followed up in the Enersize Q+ cloud service. Consumption of compressed air has fallen by about 25%, which correspond to about 8.5 GWh in annual savings for the factory and reduced CO2 emissions of over 6,000 tonnes/year.
As part of the strategic collaboration with Adenergy, technicians from Adenergy were utilized for the implementation of the project under the guidance and training of Enersize staff and in collaboration with Hankook's own staff. The work was carried out during the course of July 2019. In addition to the over 1500 leaks that have already been repaired, additional about 500 leaks have been identified for later action in connection with planned production stoppages or others for repair at appropriate times which will increase the final savings level further.
As a result, Adenergy's personnel have received relevant training for the pilot projects planned to be carried out with Adenergy's own customers during the autumn within the framework of the parties' Letter of Intent.
Enersize has invoiced Hankook for 95% of the project's total cost and per today received payment for 60% of the total cost. Hankook and Enersize have begun discussions with the Hankook’s respective factory management on the implementation of the corresponding project in two other Hankook factories in China and in Hankook's plant in South Korea. Any upcoming projects will be announced via PM.
"It feels very satisfying to introduce, with such strong and tangible results, Leaqs in combination with Q + on the Chinese market. The combination is unbeatable because it both provides quick saving and concrete feedback just how much savings can be achieved, and what level of savings is then achieved. For Hankook, it was crucial to implement the LEAQS project as quickly as possible when, thanks to Q + analysis functions, they were able to see how large the leakage they actually had and how high the daily costs really were. The repair of leaks was carried out in a record short time, largely thanks to Hankook's strong commitment. With this incredibly nice result from this project we have an excellent reference client for both China and Europe that we can use in our sales and marketing to inspire all compressed air and energy managers to start work on streamlining their compressed air systems", says Daniel Winkler, sales and marketing manager.
"Enersize's first major project with Leaqs and Q + in combination in China shows that our new business model works well even in China, and that the working methodology with facility management companies as partners works excellently. With Hankook, we have really shown how with our data-driven approach and technology we can get a client that until just a few months ago treated compressed air as a "free" resource to gain complete insight and redirect to be the best in class in compressed air efficiency. We are now focusing on continued long-term cooperation with Hankook and expanding our concept in China, but we will also exploit the very satisfactory results from Hankook, Jiaxing, to market ourselves in Europe.", says Anders Sjögren, CEO.
About Hankook Tire Jiaxing Co., Ltd.
Hankook is the world's seventh largest vehicle tire manufacturer, headquartered in South Korea. Hankook is today one of China's largest tire manufacturers. The company has factories worldwide and factories in Jiangsun, Jiaxing and Chongqing in China. The factory in Jiaxing manufactures tens of millions of tires annually.
About Adenergy
Adenergy is a wholly-owned subsidiary of Aden Services. Aden Services is a fully integrated facility management company with 26,000 employees, operations in 25 countries and 80 different Chinese cities. Adenergy was launched in 2018 by Aden with the aim of focusing even more clearly on offering comprehensive services within energy efficiency and emission minimization with the help of IoT. Aden's customers are mainly large multinational companies and most of the business is in China. Aden Services and Adenergy are headquartered in Shanghai, China.
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Svensk Kapitalmarknadsgranskning AB
E-post: ca@skmg.se
Telefon: +46 11 32 30 732
For more information about Enersize, please contact:
Anders Sjögren, CEO
Telephone: +46(0)730-763530
E-mail: anders.sjogren@enersize.com
Brief information about Enersize
With its proprietary patent-pending automated software, Enersize Q+ for leakage management, data collection and analysis, Enersize can provide 10-50% energy savings in industrial compressed air systems. With Enersize Master, the customers can measure and monitor several factories centrally. Through the recently acquired Enersize LEAQS system, the company has access to more than 9000 leakage management projects, and the associated more than 4000 customers worldwide. The combination of the company’s software services can increase the customer’s savings in running projects, while generating direct license and project revenue. 90% of the manufacturing industry uses compressed air, which constitutes about 5% of the world's total electricity consumption. Among Enersize's existing customers are one of the world's largest manufacturers of flat screens and well-known car manufacturers and steel mills. The company is headquartered in Helsinki, have a sales office in Gothenburg and a development office in Lund. The company is listed on Nasdaq Stockholm First North under the ticker: ENERS. www.enersize.com
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