Givisiez, January 29th 2024
ECCO2 Solutions AG disclosed unaudited revenue data for the fiscal year ended December 31st, 2023. Revenue reached CHF 3’525’000, an increase of 57% over the previous year.
ECCO2 achieved average heating energy savings of 20.1% over its full portfolio, with the top 100 buildings hitting 26% – amazingly close to the 30% observed in the real world for a full renovation, but at a very small fraction of the cost and effort.
The management team commented as follows:
“After a challenging transition out of Covid in 2022 which saw many customers waiting to see how things would develop, the market for our cost-efficient energy- and CO2-saving solution is now in full swing. Demand for CO2 reduction and improved ESG positioning is strong and growing.
Property owners are confronted with a new issue: higher interest rates increase financing costs, putting the profitability of real-estate portfolios under pressure. As a result, they have become very cost sensitive.
Another effect of higher interest rates is the shift away from real-estate investments. According to a recent survey by PwC, transaction levels have crashed across Europe.
In certain major cities, the contraction exceeds 80%. Most publicly traded real-estate funds experienced substantial agio losses.
In parallel, expectations in terms of ESG criteria are growing fast – the threat of severe value loss is looming closer for objects showing poor energy / ESG performance.
ECCO2 managed this market situation proactively, building upon its unique strengths to turn challenging times into an opportunity.
ECCO2 leveraged the value created by CO2 savings to fund part of the necessary Capex. In addition, the company streamlined its hardware and project costs and passed the savings to its customers using an innovative service model called “Savings as a Service”.
As a result, ECCO2 Building Intelligence, powered by NARA AI, the industry’s most advanced heating control solution, became the least capital-intensive.
In response to customers’ interest in improving ESG ratings, we have delivered the add-on module ECCO2 Resource Management System, to automatically collect electricity and water consumption and store this data in a purpose-designed database that allows correct perimeter mapping and automated exports to ESG tools such as REIDA or GRESB.
To prove the value of its digitization solution, ECCO2 worked with a premier customer and Wüest Partner to obtain a formal assessment of the increase in Net Asset Value (NAV) resulting from the deployment of ECCO2 Building Intelligence.
The report, available at no charge on Analysis of the Solution by Wüest Partner – ECCO2, concludes that it is fair to expect a NAV increase of 1-5% as a result of the deployment of ECCO2 Building Intelligence.
In 2024, we expect ECCO2 to continue growing at a very sustained rate, while we deploy new technology that will elevate energy efficiency and data management to new heights.”
ECCO2 Solutions AG is a Swiss corporation, privately owned and fully funded by insider shareholders. The company’s headquarters are in 1762 Givisiez.