Joint Venture for Thermal Heat Recovery Equipment

Published on by in Business

Joint Venture for Thermal Heat Recovery Equipment

International Wastewater Systems announced a joint venture with RENEW Energy Partners for the financing and installation of IWS's world-leading thermal heat recovery equipment.

RENEW-logo-300.jpgR8bM9Yp.pngThe Joint Venture will initially build projects in California for which RENEW is committing funding of US$60 million over five years, for the purpose of funding capital expenditures for one thousand (1,000) PIRANHA thermal heat recovery systems ("PIRANHA") to be built, installed and operated exclusively by IWS.

RENEW is engaged in developing and funding energy and water efficiency retrofits and on-site clean energy projects through the use of innovative structures such as an Energy Services Agreement (ESA) or Power Purchase Agreement (PPA).

Combining RENEW's project finance expertise with IWS's capabilities in the manufacturing, installation and servicing of thermal heat recovery equipment, enables the Joint Venture to offer a full suite of services for energy and water conservation projects and on-site clean energy projects.

The Joint Venture aims to expand the implementation of energy efficiency and on-site clean energy projects throughout the United States.

Qj58vFZ.pngThe Joint Venture will fund and deploy IWS's PIRANHA system, a self-contained heat pump that extracts thermal energy from wastewater for hot water production.

The PIRANHA has been optimized for residential buildings with 50-200 units as well as stand-alone commercial applications, and was the recipient of the 2016 AHR Expo(R) Innovation Award for Green Building Innovation.

The AHR Expo(R) is the world's largest HVACR (Heating, Ventilating, Air Conditioning and Refrigeration) convention.

The Joint Venture will finance, build, install and operate 1,000 PIRANHA systems, initially in the state of California and later extending to the rest of the U.S. RENEW will provide funding of US$60 million to fund the deployment of the PIRANHA systems over a period of five years ("US$60 MILLION PROGRAM"). 

The purpose of the US$60 MILLION PROGRAM is to provide capital to fund turnkey installation and on-going operations and maintenance of PIRANHA systems for qualified residential and commercial buildings under a standardized Thermal Energy Purchase Agreement ("TEPA") developed by RENEW.

Under the terms of the TEPA, customers will enter into long-term supply agreements for low-cost, efficient energy, with no capital investment. 

Source: Benzinga
 

Media

Taxonomy