Impact Investment and Viking Cold Solutions

August 26, 2020 Blog Articles, Cold Storage, Energy Storage, News Articles, Solar + Storage

Karma Impact, the impact investment news site aimed at the alternative investment community, published an overview of the impact of Viking Cold Solutions’ technology on energy consumption and costs, resilience, and sustainability.

Starting with the story of Viking Cold, from the initial insight of its founder Paul Robbins, up to its current status as a provider of proven energy savings, Karma Impact outlines the key advantages of Viking Cold Solutions for impact investors.

Karma Impact describes how Viking Cold’s Thermal Energy Storage (TES) technology allows cold storage facilities to consume electricity when prices are lowest, and then maintain low temperatures within each facility while reducing refrigeration energy through the rest of the day. Using sealed containers of a phase change material, managed and monitored through intelligent software, the system with no mechanical components provides efficiency and cost reductions of 25-50% for low-temperature facilities.

Of particular interest to the impact investment community, as Karma Impact noted, is the potential to pair Viking Cold’s TES solutions with renewable energy, such as solar. This combination allows facilities to reduce electricity consumed from the grid by up to 95%, and while facilities managers would be impressed by the resulting cost savings, impact investors will be struck by the ability to dramatically reduce electricity consumption in an energy intensive sector of the economy.

Alternatives to Viking Cold’s TES technologies might understandably be less attractive to impact investors. Traditional batteries, such as Lithium-ion batteries, are environmentally damaging, Karma Impact notes. Alternatively, sub-cooling food to attempt to lower energy costs (often called “flywheeling”) can decrease food quality.

Moreover, Karma Impact notes the impact of Viking Cold’s technology in improving resilience in the face of natural disasters, referencing the experiences of Viking Cold’s customers in Puerto Rico during Hurricanes Maria and Irma.

You can read the full coverage on Karma Impact’s site, here.

To speak directly to Viking Cold, to find out how we can help you reduce electricity consumption, cut carbon emissions, and improve resilience, contact us here.

Thunder Said Phase Change Materials Review

August 15, 2020 Blog Articles, Cold Storage, Cold Storage Construction, Energy Storage, News Articles, Solar + Storage, Utility & Grid

Thunder Said Energy, the research consultancy for energy technologies, has released a review of the benefits of thermal energy storage for refrigeration, renewable energy sources, and energy storage at large.

Phase Change Materials (PCM), such as those used by Viking Cold Solutions, are described by the report as a “game-changer” for energy storage technology, particularly with reference to their use alongside renewable energy. The report explains the economics of cold storage, the functioning of Phase Change Materials, and covers a review of 5,800 patents in the space.

Thunder Said’s Phase Change Materials review made the key observation that PCM technologies can:

  • Earn double-digit Internal Rate of Return
  • Unlock 20% efficiency gains in freezers and refrigerators
  • Provide superior efficiency over battery storage

Noting that refrigerators and freezers comprise 9% of the US electric grid, including consumption across 4,200 warehouses, 40,000 supermarkets, and 620,000 restaurants, Thunder Said is bullish on the potentials of Phase Change Materials.

The PCM report, which can be purchased from the authors here, highlights the achievements of Viking Cold Solutions’ thermal energy management technologies, the industry-leading performance that will be of particular interest to the readers. While Thunder Said expects 20% improvements in efficiency gains and commensurate cost savings, Viking Cold’s own installations have delivered efficiency improvements and cost savings of between 25% and 50%, out-performing the analysts’ expectations.

Viking Cold Solutions has developed its own PCMs and proprietary software from its headquarters in Houston, Texas, and now has the technology installed and running in locations from California to Puerto Rico and Mexico to Australia, with years of reliable operation and documented case studies to confirm the technology’s effectiveness in reducing cost, energy consumption, and carbon emissions.

For specific case studies and overviews of Viking Cold Solutions’ technology’s performance, see our Resources. And to find out how we can improve your energy efficiency and reduce your energy costs, contact us here.

Long-Duration Thermal Storage on Greentech Media

July 31, 2020 All News, Cold Storage, Energy Storage, News Articles, Solar + Storage, Utility & Grid

A recent piece on GreetechMedia.com describes how California based third-party logistics provider Dreisbach Enterprises has seen cost savings and performance improvements after installing Viking Cold’s long-duration thermal energy storage (TES) technology.

Jason Dreisbach, the owner of Dreisbach Enterprises, explains why his company selected Viking Cold’s technology from a range of available energy-efficiency and demand-response programs.

“What Viking Cold has allowed us to do is [to avoid] sub-cooling to the degree that we had, and then ride it out for much longer,” he explains in the report. “Instead of six hours, we ride 12 or 13 hours, six days a week, without turning on our more major compressors.” The result is a 22-month payback period instead of 36, with a range of additional benefits – increased employee comfort, reduced operations and maintenance costs, and improved temperature stability.

The Greentech Media piece also discusses the success of TES technology in the San Diego Food Bank. Since installing Viking Cold’s thermal energy storage system, the food bank has been able to shut down compressors overnight and leverage its onsite solar array to power more of the refrigeration during the day while reducing its morning peak to generate energy savings of nearly 40%.

The business landscape for long-duration thermal energy storage is shifting, the story reports. Dozens of utilities now offer incentives to support the installation of TES technologies, the TES market is growing, and Viking Cold’s sales teams see increasing numbers of inbound inquiries.

As James Bell, President and CEO of Viking Cold Solutions, is quoted as saying,  “Down the road, I see this looking like insulation did 100 years ago. Now you wouldn’t even consider a building without insulation. Going forward, why would anyone build a temperature-controlled facility without the efficiency and resiliency of TES?”

To read the full story, click here. Or contact us today to learn how our long-duration storage solution will save you energy and money.

Microgrid Knowledge highlights growing Thermal Energy Storage applications

March 25, 2019 All News, Cold Storage, Energy Storage, News Articles, Solar + Storage, Supermarket, Utility & Grid

Microgrid KnowledgeThis article on MicrogridKnowledge.com highlights the growing application of Thermal Energy Storage (TES) in refrigeration applications to lower the energy demand and the energy consumption of commercial and industrial refrigerated facilities. A number of Viking Cold projects are referenced including a California Energy Commission program inside a Whole Foods store with the goal of a Net Zero grocery store, pairing TES with onsite solar generation, and a demand management program with Massachusettes’ largest utility – Eversource.

Energy CIO Insights Features Viking Cold’s Thermal Energy Storage

May 28, 2018 All News, Cold Storage, Energy Storage, Food Processing, News Articles, Solar + Storage, Supermarket, Utility & Grid

Energy CIO Insights Features Viking Cold's Thermal Energy Storage

Online and print publication Energy CIO Insights features Viking Cold’s technology and the energy flexibility it provides through an interview with our

CEO, James Bell.

James describes how our Thermal Energy Storage (TES) technology protects food, saves energy in the global cold chain, and benefits utilities.

Alternative Energy Now Has Alternative Storage on UtilityDive.com

April 20, 2018 All News, Cold Storage, Energy Storage, Food Processing, News Articles, Solar + Storage, Supermarket, Utility & Grid

Alternative Storage on UtilityDive.comViking Cold’s Thermal Energy Storage technology was recently featured on UtilityDive.com. The article discusses how Viking Cold’s thermal energy storage (TES) technology provides an alternative storage technology for alternative energy sources.

Utility Dive provides professionals with a bird’s-eye-view of the utility industry through industry news, original analysis, and published in-depth feature articles.

James Bell Interview Prior to Speaking at Energy Storage Summit in London

February 16, 2018 All News, Energy Storage, News Articles, Solar + Storage, Utility & Grid

The 2018 Energy Storage Summit is being held February 27-28 in London, England. The Energy Storage Summit is attended by developers, financiers, utilities, networks and aggregators discussing standalone storage, co-located and C&I applications, top case studies from around the world with innovative business models and positioning of utilities, as well as completed EFR projects, co-location and utilities’ strategies.

James Bell, Viking Cold CEO, will be speaking at the Technology Comparison Session at the summit to ensure everyone knows that the cold storage market, formerly inaccessible because of its continuous, high electricity demand, now has an environmentally friendly and economical energy storage solution with thermal energy storage (TES).

James was interviewed prior to the show to share more about Viking Cold Solutions and the value the TES technology brings to operators and the utility providers.  Click here to read the full interview.

Viking Cold Solutions’ Thermal Energy Storage system demonstrates over 30% energy savings in a 3rd party study and is recommended for adoption by utilities in California

November 14, 2016 All News, Case Studies, Cold Storage, Energy Storage, Food Processing, Press Releases, Solar + Storage, Utility & Grid

Thermal Energy Storage system demonstrates over 30% energy savingsAn innovative thermal energy storage system using phase change material and intelligent controls provides significant cost savings, enhanced product monitoring, and protection for cold storage operators and supermarkets.

Houston, Texas – November 14, 2016 – Viking Cold Solutions, a leader in thermal energy storage systems, today announced that a Southern California Utility, along with an independent 3rd party energy management firm, ASWB Engineering, completed a Field Demonstration Study of the Viking Cold Thermal Energy Storage (TES) system. The study verified a reduction in electricity consumption of 30% and 39% in two separate low temperature cold storage facilities in the San Diego area. Based on the results of this study, the Utility and ASWB recommended that California utilities adopt the technology into their Energy Efficiency incentive programs.

The purpose of the independent study was to determine the effectiveness of Viking Cold’s patented TES system in cold storage freezer applications and to qualify the system for California utility inventive programs as part of the California Energy Commission Emerging Technologies initiative.

“The benefits of the technology include reduced refrigeration equipment run time and increased product safety during power emergencies due to the thermal storage capabilities of the solution.” said John Baffa, Professional Engineer at ASWB Engineering.

“It is exciting to see our technology recognized by a leading utility energy efficiency program and I’m pleased that the study validates the results that Viking Cold customers already experience daily.” said James Bell, CEO of Viking Cold Solutions. “Our passive, non-mechanical system is a cost-effective way to reduce energy consumption across the cold chain, from walk-in freezers to large distribution warehouses, which can be used stand-alone, or to boost the return with solar PV.”

Two locations currently using Viking Cold’s TES system were studied by ASWB. The first test site, a walk-in freezer on Camp Pendleton in Southern California, showed a net facility energy savings of 30%.  The second test site is a commercial freezer warehouse at the Jacobs & Cushman San Diego Food Bank. By leveraging the Food Bank’s existing photovoltaic system to run the refrigeration during the day and using Viking Cold’s TES system at night, the facility showed a net energy savings of 39%.

“Electricity costs are one of the top two expenses in the cold storage industry and this study demonstrates the value of using an intelligent Thermal Energy Storage system to reduce energy consumption in freezers.” said Corey Rosenbusch, President and CEO of the Global Cold Chain Alliance (GCCA). “Based on these results, our membership should evaluate this technology for their own low temperature applications.”

The complete Phase Change Material and Controls Field Demonstration Study, written by ASWB Engineering, can be downloaded on the California Emerging Technologies Coordinating Council’s website at:
http://www.etcc-ca.com/reports/phase-change-material-and-controls-study-low-temp-refrigeration-applications 

About Viking Cold Solutions:

Viking Cold Solutions™ is an energy management company, which makes the world’s cold storage systems more efficient using proprietary Phase Change Material (PCM) and intelligent controls.  The Thermal Energy Storage (TES) solution stores energy, reduces demand, shifts load, monitors the facility, and provides thermal back-up protection. The company’s patented TES systems have saved over 7,000 MWh of energy, reduced carbon footprint by over 4,400 metric tons, and prevented more than $13M of product loss. Learn more at vikingcold.com

Contact:
Maddie Mansson
Director of Marketing
Viking Cold Solutions
+1-346-804-4363
mmansson@vikingcold.com

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