Air-conditioning company CAC 2000 and Tropical Battery Company Limited have joined forces to form a new company, Enervate Limited.

The joint venture company is duly incorporated under the guidelines of the Companies Office of Jamaica on April 29, 2021. Enervate, which is in the business of energy-saving solutions, officially started offering its product and services as of Tuesday, June 1, 2021.

The joint venture company will be led by Steven Marston, former CEO of CAC 2000. Marston is a qualified air-conditioning and energy engineer.

The joint venture partners reports that, “Enervate will adopt a unique approach to establishing energy-saving solutions for our commercial customers in Jamaica and the Caribbean by focusing on real-time measurement and monitoring of energy consumption and using the resulting data to identify, design, and execute energy and water saving opportunities.”

Innovative financing solutions for qualified customers

The goal is to work with customers to achieve minimum savings of 25 per cent, with the ultimate achievement being NET ZERO consumption. Enervate plans to develop innovative financing solutions for qualified customers through the issuance of a Green Bond along with equity capital.

This joint venture is in line with CAC 2000 Limited strategy to develop complementary partnerships which are in keeping with its purpose of improving people’s lives by excelling, as the leading experts on energy and Indoor Environmental Quality (IEQ). This is being done by engineering solutions and providing products and services that sustain healthy, comfortable and productive indoor environments, actively generating energy savings for customers, whilst improving and diversifying our revenue streams.

Tropical Battery, which has over 70 years of experience in the energy storage business started this new company, recognising the global trend of lower price energy storage solutions (batteries) and how this fact makes becoming energy independent more affordable, practical, and just better for the environment.

In a joint statement the two companies say, “We (CAC and TROPICAL) are both passionate about the planet, people, and profits, and we anticipate this 50-50 partnership will help us achieve our goals faster and make our Caribbean paradise a better place to live and work.”