Enwave: Smarter solutions to heat and cool cities
The investment: In 2021, we jointly acquired Enwave with IFM investors.
Cities around the world represent an estimated 78 per cent of the world’s energy consumption – and almost 50 percent of the energy is used for heating, cooling and hot water. To meet climate targets, cities play a central role in the sustainable use of energy.
Enwave helps cities become more sustainable by using modern district energy networks that connect individual buildings to shared heating and cooling equipment, creating a commercially-driven, scalable energy ecosystem. This network results in greater access to low carbon technologies, reduced energy use and emissions, increased efficiency, lower-capital costs and increased energy resilience. The result: more profitable, more sustainable businesses.
The company’s energy generation assets are among the cleanest and most efficient in the world, supported by a constant focus on innovation to advance renewable energy solutions. Enwave’s management team has deep experience designing and deploying solutions such as Deep Lake Water Cooling, geo-exchange, thermal batteries and other forms of waste heat recovery from data centres and industrial and commercial applications. Enwave finances these technologies through Green Loans that are governed by its Green Financing Framework which provides sustainability linked standards for raising capital.
We see Enwave as a platform to meet the growing demand for low-carbon energy solutions, and as an industry leader contributing to a cleaner, more sustainable future.