Enersize Advanced Research AB (“Enersize” or the “Company”) signs a Letter of Intent with eClouds Energy LLP (“eClouds”) in India. Enersize and eClouds will cooperate to supply Enersize’s Compressed Air Services to end customers in India.
Enersize is working with WWF and H&M to reduce energy consumption of suppliers in India by performing energy efficiency services on the supplier’s compressed air systems. Enersize wishes to test its business model on a few pilot customers in India (suppliers to H&M) with support from eClouds performing the actual services as a sub-contractor to Enersize. The pilot project is expected to include up to five suppliers and the aim is to finish during 2021. Enersize expects to cover costs and investments with a possible upside depending on the results of individual pilots.
Enersize and eClouds will together invest in building the business in India. Enersize will train eClouds in supplying Compressed Air Services and eClouds will supply resources to be trained. The companies want to carry out successful pilots and step by step develop the business aiming for a full partnership where eClouds take the business responsibility on the local Indian market.
“We have helped companies save over INR 100 million in power bills every year for the last eight years. Partnership with Enersize would help our clients to optimize power consumption, further. We are pretty excited to take Enersize’s products and services to them”, says Shantha Kumar, CEO of eClouds
“I am happy to get started with eClouds and test the Indian market, backed by WWF och H&M”, says Anders Sjögren, CEO of Enersize
eClouds current main business is performing energy audits and resulting energy efficiency actions, but the company is also owners and consultants of wind and solar power plants supplying electrical energy to the market. eClouds has been serving the power industry in India for over ten years, helping consumers reduce their energy consumption as well as their carbon footprint.