New Zealand Green Investment Finance has invested in innovative energy and carbon management company Energy Solution Providers (ESP) to help grow its business, invest in new technology and attract new clients.
With a two-decade track record of energy efficiency and management behind them, ESP offers clients energy and carbon management services that utilise cost effective data-driven insights, machine learning and remote monitoring.
NZGIF chief executive Craig Weise says ESP’s services delivers on multiple fronts, reducing customer’s energy costs while saving New Zealand carbon. “Energy and carbon management is well recognised here and overseas as a cost-effective way to reduce emissions, and it can make a company more profitable and productive as they do more with less energy. So, our investment in ESP’s growth is a win-win for New Zealand. We see potential for significant growth for ESP as New Zealand companies recognise that to be successful, to meet the expectations of shareholders and customers, they need to do business with less carbon”.
The equity investment is part of a wider raise for the company and will be used to grow ESP’s customer base, invest in its technology platform and provide further insights and analytics to customers. ESP works across many sectors and with many companies with potential to save money and carbon, including those with commercial, industrial and manufacturing sites using multiple fuels.
The incorporation of innovations such as artificial intelligence and machine learning in ESP’s services for clients means immediately actionable insights through autonomous and remote monitoring, with measurable impact. Depending on the nature of the business and the types of plant used, commercial customers can expect to save between 10-50% on their power bills, savings that go straight to the bottom line.
NZGIF’s capital will contribute to ESP’s ongoing development and marketing of cost-effective software services for companies not able or willing to carry the costs of traditional on-site physical energy auditing and monitoring, meaning more companies managing energy and reducing carbon overall in New Zealand.
Lincoln Watson, ESP’s chief executive, says “We have the experience and industry-leading technology to help companies understand, manage and reduce their energy-related emissions – and their energy costs. We’re ready to grow into New Zealand’s most successful energy and carbon manager by bringing artificial intelligence together with human intelligence from our highly skilled and qualified team to help New Zealand reach our low carbon future”.
For more information, contact:
Jenny Lackey | Communications | New Zealand Green Investment Finance
Mobile: 021 340 847
More about NZGIF
New Zealand Green Investment Finance (NZGIF) is a Crown-owned company established to accelerate investment that reduces greenhouse gas emissions. Set up with initial capital of NZD$100 million, NZGIF is an independent limited liability company.
Find out more at www.nzgif.co.nz.
More about ESP
For over a decade ESP has pioneered big data, machine learning and solutions for traditional energy management programmes. Serving over 150 of New Zealand’s leading businesses across more than 900 sites and all sectors they have saved $42.7 million, 293 GWh and avoided emissions of more than 50,000 tonnes.
Find out more at www.espnz.co.nz.