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.