Wednesday, 4 August 2021, 6:38 am
Available on Scoop.
Cooling is estimated to account for a staggering 13% of total global emissions. With New Zealand committed to net zero emissions by 2050, there is no question that this essential practice must undergo revolutionary changes to become sustainable.
Introducing Eco2Dairy; Cold Energy Technology’s latest piece of innovative cooling technology, capable of reducing New Zealand’s dairy farming carbon footprint by 263,250 tonnes of CO2e per year.
The Eco2Dairy product is a revolution in on-farm milk cooling systems for dairy farmers, using natural refrigerants to cool milk and heat water. If implemented across New Zealand’s 11,500 dairy farms around the country, it would have the capacity to achieve 3.7% of the national CO2 emissions reduction target (simultaneously reducing national energy consumption by 325GWh/yr, which is 0.85% of our total national energy use).
In order to reach their full potential, Cold Energy Technology is seeking investors who back their sustainable cooling initiative, aiming to raise their target of $1.65M via their PledgeMe campaign commencing 3pm, Wednesday, 4th August. The equity raised will be used to implement a strong sales programme, further their ongoing R&D projects and scale their working capital capabilities, helping them to expand their reach to farmers across New Zealand and beyond.
New Zealand’s cooling capability is linked to economic growth; essential for the nation’s health, wellbeing and productivity. Without it, our modern economy would break down at its most basic level, impacting our supply of food, medicine and data.
The demand for cooling technology is also undeniably on the rise, as the world’s population heads to 9 billion by mid-century, increasing projected food demand by 60%. We will need cooling to conserve food, water and other resources; tackle poverty, hunger, health and climate change; and underpin growth and development.
The Heating, Ventilation, Air Conditioning and Refrigeration (HVAC&R) industry has been undergoing significant change for quite some time, with the introduction of new legislation restricting the accessibility and increasing the cost of traditional HFC refrigerants. Hydrofluorocarbons (HFCs) are potent, man-made greenhouse gases that have high global warming potential (GWP).
The Emissions Trading Scheme has significantly increased operating costs of these refrigerants, with the cost of a carbon unit going from $6.45kg in 2015 to currently exceeding $46. There is a clear signal to industries within New Zealand that rely on refrigeration to start taking notice of the changing landscape and the potential bottom line impacts that the HFC phase-down of “F-gas” refrigerants will have.
Chemical manufacturers have been working on lower GWP HFC replacements, however these alternatives will also eventually be phased down as international GWP limits on refrigerants are enacted. Understanding that a switch to HFC replacements does not provide long-term security, is becoming an important consideration within the HVAC&R industry.
Significant advancements in technology have enabled “natural” refrigerants to become practical, safe and reliable alternatives, providing the opportunity for organisations to make substantial energy and operational cost savings. Understanding the environmental and economic opportunities that the phase down provides will be the critical difference for companies that will successfully adapt to the new landscape.
Cold Energy Technology is playing a critical role in this space, saving energy and reducing carbon emissions through the use of natural refrigerants over synthetic gases. The team behind CET have a long and proven track record in this space, having pioneered some of New Zealand’s first natural refrigeration systems using CO2 and Hydrocarbons (under CET’s sister company, EcoChill). Under the EcoChill banner, their customers have prevented over 60 million kgs of CO2 emissions from entering the atmosphere from systems they have designed, installed and maintained.
Their innovative technology is ensuring a sustainable future for essential cooling practices, and this starts with the transformation of on-farm cooling performance for dairy farmers. Eco2Dairy is enabling the dairy industry to reduce their carbon footprint – an important step for agricultural New Zealand – and their future holds many exciting opportunities for New Zealand and the wider world.
The full investment memorandum is available here – and Matthew and Megan Darby are both available to speak on the launch in more detail.
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