PETALING JAYA: Singapore-based cooling-as-a-service (CaaS) company Kaer has secured contracts for retail and commercial projects in Singapore and Malaysia worth more than S$62 million (RM202.85 million).
This will result in a 30% increase in cooling services delivered from its CaaS portfolio.
Kaer’s CaaS model offers cooling at a fixed rate on a pay-as-you-use basis to support the growing demand for commercial and industrial cooling across Asia.
“In the last 12 months we have continued investing in people, new technology and growing capabilities in new markets, all in support of accelerating the adoption, delivery and superior customer experience under the CaaS model,” said Kaer CEO Justin Taylor (pic).
Currently, the company has a total contracted pipeline of projects worth over S$285 million (RM932.36 million) covering 15 million square feet of real estate in India, Malaysia, and Singapore.
Collectively, these projects are aligned with Malaysia’s pledge to achieve carbon neutrality by 2050.
Its work and model is expanding across Asia and supporting the rising demand for sustainable cooling driven by rapid urbanisation and climate change, amid international calls for a climate resilient future.
In 2022, Kaer implemented CaaS at partner buildings Parklane, Excelsior Hotel, Dnata Catering, Dnata Cargo, and GR.ID, lowering carbon emissions as well as improving energy consumption by over 50%.
Additionally, the company has completed a low global warming potential (GWP) refrigerant pilot project last year, which achieved a GWP rating of 0.97 from 1,300.
Kaer’s newly acquired partnerships also include landmark projects such as the Fullerton Hotel in Singapore and The Exchange TRX in Malaysia, with contract terms spanning between 10 and 15 years.
