Enersize Advanced Research AB (“Enersize” or the “Company”) has signed a Partnership Agreement with South Korean Das Korea 다스코리아㈜ (“Das Korea”). Das Korea will use Enersize’s Compressed Air Services, the Company’s Software-as-a-Service (“SaaS”) platform, to provide energy optimization of industrial compressed air in South Korea.
Enersize first met with Das Korea’s CEO, Mr. Hyunsung, on the EU Gateway to Korea event in February 2020, just before Covid-19 hit full force in Europe. When Enersize formalized its new partner model during the spring 2021, Das Korea joined up and the process from start to signing of the partnership agreement took about 3 months.
Das Korea with headquarters, factory, and a logistics center in Hwasung and a sales office in Busan, had a turnover last year corresponding to 300 MSEK. The market segments where Das Korea are active include semiconductor and display industry, rechargeable battery industry, marine industry, logistics and industrial and commercial buildings. They have a trained staff of field service technicians and offer solutions in electrical distribution, industrial automation, safety, energy management, smart sensors and robotics. This means Das Korea has a presence on the South Korean market and will be able to approach current customers with new services for compressed air energy efficiency. Das Korea expects to win 3-5 customers the first year (2022).
It is worth noting that Enersize has not met Das Korea (or SCOPP Solutions) during the early onboarding process, showing that Enersize is able to support the onboarding process well, even completely remotely. Only when the partner onboarding reaches the stage where technicians are trained on-site, the partner pays for a visit by Enersize Academy training experts and also pays for receiving hardware equipment to start using Enersize’s Compressed Air Services. In total, the startup costs paid by a new partner is on the order of 0.2-0.5 MSEK, depending on the size of the partner. Generally, Enersize is building a Partner Onboarding Process to support the scale up global sales for the Company and every new partner helps maturing the process.
Following the signing of the partnership agreement, Enersize will train Das Korea and Das Korea will find a handful pilot projects to start with to prove the win-win-win situation. Das Korea will get new revenue streams by using Enersize’s online services, customers in South Korea lower their energy consumption, CO2 emissions and cost, and reduces the risk of unplanned production stops, and Enersize increase its revenue from Compressed Air Services.
Based on a report for EU Gateway to Korea, South Korea ranks 11th in the world by GDP. South Korea is also ranked among the top 10 emitters of greenhouse gases. Out of the electricity consumed in South Korea 68% is generated by oil, coal and gas and the CO2 intensity of electricity generation is very high, 540 g/kWh (2013), and has not reduced since 1991. Reducing energy consumption by optimizing compressed air systems therefore will lead to considerable reductions in CO2 emissions for customers. Das Korea informs that the cost of electricity in for South Korean industry is about 0.52 SEK/kWh, which is less than half of the European average price.
The non-exclusive partnership agreement with Das Korea is the third partnership agreement since Enersize launched its new partner model earlier in 2021 and Enersize now has partnerships based on the new model in Sweden (Momentum Industrial AB), Morocco (SCOPP Solutions) and South Korea (Das Korea). As Enersize new business model is based on recurring revenue from Software-as-a-Services sold through partners, this new agreement is of strategic importance to the Company.
“Das Korea, who has been in Electrical business field for over 20 years, is under transformation to provide IoT Converged Total Solutions to the customers aiming to become a One-Stop Solution Provider for the Smart Factory”, says Hyunsung Cha, CEO of Das Korea
“Industrial compressed air is found in every branch of industry all over the world. I look forward to a presence of Enersize in South Korea through the new partner Das Korea”, says Anders Sjögren, CEO of Enersize
About Das Korea
Das Korea was established in 2001 as a franchise to Schneider Electric, and has grown through franchising with several other international leading business, such as Weidmüller, Pizzato, Wohner, and Pilz, and has grown turnover steadily since the start. In 2016 the company started an important business with Samsung SDI. Das Korea is ISO 9001 and 14001 certified and aims to become a one-stop solution provider for Smart Factories.