Currently, air conditioning is the biggest energy consumer of any commercial building. According to the University of Malaya Power Energy Dedicated Advanced Centre (UMPEDAC), air conditioning consumes about one-third of the total energy consumption in a commercial building, which is the largest energy consumer in the building.
This issue has also been experienced by MIGHT. To mitigate this problem, MIGHT has explored a new opportunity of COLDGROW technology by Wasave Sdn Bhd. Wasave is a new local start-up that was established in 2020. Wasave is currently focusing on innovative cooling and heating technology. The COLDGROW technology has the potential to generate steam, hot water, and electricity.
With this technology, many challenging projects could be realized, like highland farming in a greenhouse, land-based salmon farming (precision farming), indoor snow park, low- energy data centres, and building. ‘The technology could be adopted at commercial buildings and other large power consumers such as industrial parks.’
MIGHT is currently in the Proof-of-Concept (POC) implementation process of the COLDGROW Cooling System. The innovative technology utilises Liquified Natural Gas (LNG) cool energy to chill water for air-conditioning purposes. It is the only technology with the highest energy saving and simultaneously significantly reduces carbon emissions. The adoption of COLDGROW is projected to reduce MIGHT's carbon emission by up to 75% and save energy by up to 15% monthly. The ongoing COLDGROW project has a zero-capital expenditure (CAPEX) business model, allowing the maximum financial benefit to be enjoyed by MIGHT.
MIGHT's current cooling method is the district cooling system (DCS) produces chill water by using electricity from the conventional grid. The DCS is over-spec which resulted in higher costs and higher carbon emissions. Historical data has shown that in 2020, MIGHT's actual air conditioning bill was 14.7% more than the actual usage. It is projected that when COLDGROW technology kicks in, it could give savings of RM 60,000 annually toMIGHT. 18
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