Actis, an investment company that focuses on sustainable infrastructure, has bought 100% of Barghest Building Performance (BBP). BBP is a company based in Singapore that helps businesses in Asia save energy through the use of smart heating, ventilation, and air conditioning (HVAC) systems.
Actis said in a statement on Tuesday that the investment by Actis aims to enable bbp to undertake larger projects, further accelerating its growth.
BBP helps businesses save energy by offering smart solutions that can reduce energy use by up to 40%. They do this using their special software, expert knowledge, sensors, and controllers.
Their system also uses machine learning and artificial intelligence (AI), based on real data from over 400,000 tons of cooling systems that BBP has improved across nine Asian countries.
BBP not only improves current cooling systems but also upgrades customer equipment when needed, using their own technology. This helps customers save more energy while spending less money upfront.
BBP typically covers the cost of installing its systems and upgrading the customer’s HVAC equipment. This means customers can focus on running their businesses while still saving money and reducing carbon emissions.
BBP works with businesses in industries like semiconductor and pharmaceutical manufacturing, data centers, district cooling plants, hospitals, and office buildings.
Their clients include three of the world’s top ten semiconductor companies, Fortune 500 companies, and some of Asia’s top 20 real estate firms.
So far, BBP has helped its customers avoid 312 million kilograms of carbon emissions and save around $92 million.
According to the statement, Actis’ investment aims to capitalize on the macro-tailwinds in Southeast Asia’s energy efficiency sector, with businesses seeking to increase their energy efficiency to reduce costs and carbon emissions as well as meet regulatory requirements.
Singapore’s National Environment Agency has set new energy efficiency rules for cooling systems in factories.
Factories that use a lot of energy, like those in semiconductor manufacturing, must meet these standards by December 2025.
Other factories, such as those in the pharmaceutical industry, have more time — until December 2029 — to follow the new rules.
“Cooling systems can be very energy intensive, and bbp’s Energy-Savings-as-a-Service offering has a key role to play to help businesses reduce their costs and carbon emissions,
“Energy efficiency is key to decarbonization, and we’re delighted to be acquiring an innovative leader in this field with bbp. We believe it has a bright future ahead of it and we look forward to accelerating its growth,” said Asanka Rodrigo, Partner, Energy Infrastructure at Actis.
Boon Chye Hoe, bbp’s Chief Executive Officer, will continue in his role to lead the organisation’s 120-person strong team and scale the platform for future growth, said the statement.
“Space cooling typically consumes up to 60% of an asset’s energy usage in Asia,
“With more than 400,000 RT of cooling systems optimised across 9 markets and generating savings year-over-year, bbp is excited to partner with our clients and Actis to further unlock value through cooling systems,” Boon Chye Hoe, Chief Executive Officer at bbp.
BBP is the latest company to receive investment from Actis as part of its Asia Climate Transition strategy, which focuses on environmentally friendly projects.
Actis has previously invested in BGPL, a smart metering partnership with EDF India, and Argo Energy, a solar energy company in South Korea.
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