Cooling-as-a-Service Incubator Program Announces Winning Companies

After receiving 35 project proposals from around the world for its cooling-as-a-service (CaaS) incubator program, Switzerland-based Basel Agency for Sustainable Energy (BASE) has chosen the five technology providers that will pilot the first CaaS projects. Providers were chosen from India, Grenada, Costa Rica, Nigeria, and Argentina. 

CaaS is an alternative financial model to the traditional upfront purchasing of equipment, using a pay-per-service model instead.

The proposals are for highly efficient air-conditioning or refrigeration solutions using low-GWP or natural refrigerants. The five winners will receive free support from BASE to integrate CaaS into the business models for their systems. This will include assistance on technical, legal and financial aspects, including contractual arrangements, pricing strategy, financial structuring, risk mitigation mechanisms, among others. At the end of the incubator program, the aim is to have providers fully equipped to launch their first demonstration project.

Following its global call for proposals last month, BASE received 35 applications from 18 countries representing a variety of cooling applications and technologies. “We are delighted to see so much interest from technology providers to implement the CaaS model,” said Thomas Motmans, Sustainable Energy Finance Specialist at BASE.

BASE is the leader of the Cooling as a Service Initiative along with the Kigali Cooling Efficiency Program (K-CEP). The initiative aims to decrease energy consumption and greenhouse gas emissions (GHG) from cooling by promoting a pay-per-service model – as opposed to conventional up-front payment – to finance efficient cooling systems. The CaaS model is endorsed by the Global Innovation Lab for Climate Finance. 

“Cooling as a Service can help the much needed transformation of the cooling sector so that the cooling needs of consumers, businesses and governments can be met without blowing the world’s carbon budget,” said Dan Hamza-Goodacre, Executive Director of K-CEP, on the CaaS Initiative website.

The following are descriptions provided by BASE of the companies have been selected to trial the CaaS business model:

BGH (Argentina)

Grupo BGH boasts 106 years of history in innovation, development and commercialization of cutting-edge technology products and services. It provides answers to the needs of businesses, public organizations and consumers across Latin America and Africa.

The company has four business units: BGH Eco Smart develops energy- efficiency and smart-building solutions, integrating professional heating and air conditioning products and services; BGH Consumer manufactures consumer electronics; BGH Tech Partner develops digital transformation solutions for organizations; and Positivo BGH manufactures, sells and distributes personal computers, laptops and tablets.

KoolBoks (Nigeria)

Although global warming is more prevalent now than ever with record temperatures on all continents, Africa in particular broadly illustrates the negative impact this extreme heat poses for millions of people, especially low-income earners. Many Africans face significant risks because they lack electricity and therefore lack refrigeration and other forms of cooling that can protect food and vaccines.

KoolBoks is focused on democratizing the way the world experiences cooling. The company’s goal is to develop ice-cooling systems through research and development and make them affordable and accessible to those that need them the most.

CoolCrop (India)

CoolCrop develops decentralized cold storage systems that can be owned and operated by farmers, farmer co-operatives, or entrepreneurs to store perishable produce immediately after harvest to reduce on-farm waste and distress sales during low-priced market conditions. It has also developed a price-forecasting system in the form of a market-analytics app, which helps farmers make better marketing decisions for their perishable crops. Integrating these technologies with renewable energy technologies, especially solar powering systems, is CoolCrop’s domain expertise.

CoolCrop works with partner entities such as non-government organizations, self-help groups, financing institutes, market committees and government agencies to better realize the storage needs of farmers or farmer co-operatives;  it designs and creates systems best-suited to cater to the challenges they face.

Cooling Tech Ltd (Grenada)

Cooling Tech Ltd is a solutions provider and qualified dealer for Carrier’s commercial and residential air conditioning systems and refrigeration solutions in Grenada and throughout the wider Caribbean region. It designs, supplies, installs, services, repairs, replaces and commissions all sizes of air conditioning and refrigeration equipment to optimize the performance of its customers’ facilities, whether a single building or multiple sites. Its main focus is state-of-the-art, high-efficiency equipment and high-quality services driven by a commitment to provide energy-efficient solutions while conforming to the Montreal Protocol’s “green” initiatives to protect the environment.

Grupo Clima (Costa Rica)

Grupo Clima is a Costa Rican business group with over 50 years of experience in air conditioning, refrigeration, building-automation systems and electromechanical installations. In these years, as one of the largest contractors in the region, Grupo Clima has participated in some of the most important projects of the Costa Rican economy. 

About 15 years ago, they started working on buildings that optimized controllability and comfort for users. Nowadays, their service also focuses on energy saving as providers of the latest technology and building automation, covering HVAC, plumbing, electrical and other systems.