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Grundfos Delivers Satisfactory Financial Results Despite Market Headwinds in 2024

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In a challenging year with market headwinds, profitability for Grundfos remained strong. The company experienced a 2.4 percent sales decline in 2024 but returned to moderate organic growth in the second half of the year. Coinciding with the release of the 2024 results, the company announces its ambitious 2040 winning aspiration and a new strategy, Ignite’27. Grundfos recently reported its full-year results for 2024:

 

Sales development vs. 2023 -2.4 percent
Revenue 4.5bn EUR
EBIT before special items 482m EUR
EBIT before special items ratio 10.8 percent

 

Full-year sales were impacted by a slowdown in the global pump market, in particular by lower activity levels in  the building sector and the decline of the heat pump market to which Grundfos is a major supplier of circulators.

 

After a challenging first half of 2024, Grundfos delivered organic growth of around 4% in the second half of the year. Grundfos also managed to grow sales in several key markets, most notably in the US and India. In contrast, sales in China and Europe, not least Germany, were affected by lower demand. Despite the slowdown in sales,  profitability remained strong and in line with the company’s strategic ambition of a 10 percent EBIT ratio.

 

 

Commenting on the company’s performance, Grundfos CEO Poul Due Jensen said: “While our top line does not meet our expectations, I am overall satisfied with our financial results. I am encouraged by our sales growth across several key markets. Despite facing significant headwinds in 2024, it is also satisfactory to see that  we continue to run a healthy business, setting us up for future success.”

 

Ahead of CO2 Reduction Target

Known for its strong commitment to sustainability, Grundfos managed to reduce its total CO2 emissions by almost 10.5 percent year-on-year in 2024. This achievement can be attributed to increased sales of more energy-efficient pumps, further decarbonisation of the electricity grid and a lower volume of products sold. The company has reduced CO2 emissions by 24 percent since the baseline year 2020 and is well ahead of its SBTi-approved target of a 25 percent reduction by 2030.

 

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2040 Winning Aspiration and Ignite’27

Coinciding with the release of the 2024 results, Grundfos announced a winning aspiration for 2040 and its new group strategy, Ignite’27, which supports the company’s sustainability journey, innovation efforts and growth ambitions.

 

Talking on the new strategy, Due Jensen said: “The world continues to be an unstable and unpredictable place, but we are heavily engaged to deliver growth in this next financial year. Furthermore, the coming three-year period is set to boost our growth journey and expand our position as a leading provider of intelligent water and  climate solutions globally.”

 

Innovation Has Never Been More Vital

A key element in the new strategy is an increased focus on strengthening technology development and the commercialisation of the innovation pipeline. Due Jensen continued: “Never before has the need for innovation been more vital. It is absolutely key to  delivering the energy-efficient and smart water solutions the world needs, and with the new strategy we will  further boost our investment in technology, software and product innovation to pioneer solutions to the world’s  most pressing water and climate challenges.”

 

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New Grundfos EVP and CEO of Water Utility Shares Water Solutions-Based CIimate Change Vision

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Grundfos recently appointed Hamed Heyhat as Executive Vice President and Divisional CEO of its Water Utility division. Hamed is committed to guiding the Division towards innovative solutions that improve water and energy efficiency, ensuring resilience against climate change for communities worldwide.

 

Hamed will lead Grundfos’ efforts to enhance global water access and support sustainable aquifer management while driving the digital transformation within the Water Utility division. Collaborating with teams in Brookshire, Texas, USA, and across the Global Grundfos business, he will implement strategies to create a sustainable water future. The division aims to meet the growing demand for clean,  safe water by transforming water cycle management—from drinking water to wastewater, for communities and irrigation.

 

Hamed brings more than 20 years of experience from the wider utilities industry, gained at global companies including Alstom, General Electric Company, and most recently Honeywell. He joins  Grundfos from his role as President of the Smart Energy business within Honeywell.

 

Poul Due Jensen, CEO of Grundfos said: “Hamed brings deep knowledge from the utilities industry,  many years in senior leadership, and a proven track record of success. He has an ambitious, present,  and authentic leadership style, and I am confident that he is a great fit for Grundfos and our Water Utility division, helping us drive forward our company ambition to respect, protect and advance the flow of  water.”

 

Hamed Heyhat said: “Like Grundfos, I am passionate about making water a resource for everyone and so I’m excited by the prospect of joining Grundfos and the Water Utility division. As part of our global  team, I look forward to advancing the development in this vital area, making an impact globally with  sustainability and digitalisation as key levers.”

 

Aligning his leadership background and virtues with the Grundfos purpose, Hamed will also be focussed on the wellbeing of Grundfos colleagues. As such, driving profitability will go hand in hand with reinvesting in the workforce and the communities they serve, led by a belief that with global reach comes a responsibility to build a more sustainable future.

 

Hamed continued: “As a global company with a worldwide presence, we have a role to play in making the world a better place for future generations. Grundfos is at the forefront of combining water solutions and digital solutions to help our partners and customers use water and energy more efficiently and reduce their carbon footprint. It’s also a business committed to helping the world cope with the  challenges of climate change, leading by example to inspire others to join us in our mission for a  sustainable future.”

 

 

Grundfos Joins Top One Percent of Companies Globally

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Grundfos, a provider of advanced pump solutions and water technology, announced recently that it has achieved a Platinum medal rating from EcoVadis. This recognition places Grundfos in the top 1 percent of companies rated worldwide, showcasing its unwavering commitment to sustainable business practices.

 

EcoVadis is one of the world’s largest and most trusted providers of business sustainability ratings, assessing more than 130,000 companies’ actions and practices on their corporate and social responsibility. Using its international standards, EcoVadis has evaluated Grundfos across four key areas: Environment, Labour & Human Rights, Ethics, and Sustainable Procurement to award the business a Platinum medal rating.

 

Since the last assessment (Gold medal rating), Grundfos has implemented additional measures and policies to strengthen social and environmental responsibility across the value chain. At the same time, the company has made significant progress towards both water and climate ambitions, reflecting the company’s ongoing commitment to sustainability and continuous improvement.

 

“We are very proud of the Platinum rating, which I would like to dedicate to our hardworking and dedicated colleagues worldwide. It encourages us to keep pushing ourselves to enhance our ESG (Environmental, Social, and Governance) practices that include progressing towards net zero by 2050, fostering a fair, inclusive, and safe working environment, enforcing strong ethical business standards, and ensuring sustainable procurement across our entire value chain,” said Louise Koch, Senior Director, Group Head of Sustainability, Grundfos.

 

Silvio Vanzo, Group Senior Vice President, Purchasing, Grundfos added, “Achieving Platinum certification highlights Grundfos’ commitment to conduct business in a responsible way, but it also highlights the close collaboration and trust between us and our loyal suppliers and customers. Their cooperation and input have been instrumental in strengthening and enhancing our ESG practices throughout the entire value chain.”

 

Grundfos sustainability highlights include:

  • Environment: SBTi validated 2050 net-zero target
  • Climate: Since 2020, Grundfos has reduced its CO2 emissions by 11.7 percent (2023). Through a new Power Purchase Agreement, the company is set to meet its target of a 50 percent reduction in operational carbon emissions in 2025 – five years ahead of the company’s original 2030 goal.
  • Water: In 2023, Grundfos solutions enabled customers and end users to save an estimated 1.6bn m³ of water and reduced water withdrawal in their own operations by 48 percent since 2020.
  • Labour & Human Rights: To foster a fair, inclusive, and safe working environment, Grundfos has robust labour policies and practices across its value chain.
  • Ethics: Grundfos has implemented rigorous anti-corruption measures, conducts regular audits, and provides extensive training to ensure ethical practices are maintained throughout its operations.

 

 

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Grundfos Wins Climate Award at Sustainability Awards 2023

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Grundfos, Salling Group and Nykredit were finalists for the Climate Impact Award, which was awarded on the basis of, among other things, goals, ambitions and documented results. Between inspiring presentations and heated debates, winners of this year’s awards were announced when the Sustainability Awards were held by the Danish Chamber of Commerce and EY on 14  September 2023.

 

The Climate Impact Award was among the awards presented in the Stock Exchange Hall, which was filled to the last row of chairs. The winner of the Climate Impact Award was selected by an independent jury that assessed eight nominated companies based on a number of criteria. Out of  the eight nominees, three finalists were selected:

  • Grundfos
  • Salling Group
  • Nykredit

And so it was Grundfos that came out on top. The Climate Impact Award is an award given to a company that has particularly ambitious goals and actions in its work on climate change, says Jan C. Olsen, CEO of EY in Denmark.

 

“With the Climate Impact Award, the focus is on companies that are already doing well but want even more. For example, by introducing new initiatives that can inspire and set new standards. It is therefore about clear impact, and the criteria for the award are tough, so solid results must be shown that support ambitions and goals. The independent jury found Grundfos to be a good  example of this.”

The value of lifting together

Among other things, the jury justified the choice of Grundfos with their solid results and a complete plan for net zero. The jury also highlighted Grundfos’ partnerships to find solutions to, for example,  more climate-friendly production.

 

“This year’s winner of the Climate Impact Award is very ambitious and at the same time understands the value of pulling together. Many exciting initiatives can be highlighted, and at the same time,  Grundfos also has a global impact across the value chain. They go beyond the country’s borders – with positive impact and change,” says Brian Mikkelsen, CEO of the Danish Chamber of Commerce.

 

Mikael Geday, Group Executive Vice President, Chief Financial Officer at Grundfos, says: “Making a positive impact on the world’s water and climate challenges is deeply rooted in our business. Thanks to strong collaboration across Grundfos, our Science-Based Targets were approved last year, and we have already, in 2023, allocated DKK 150 million to support initiatives that will enable the realisation of our 2050 Net Zero target. We are immensely proud of the recognition it is  to receive the Climate Impact Award for this work.”

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Grundfos Introduces New Range of End-Suction Pumps to Advance Asia Pacific’s Smart Green Cities

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As demand for intelligent solutions in the region accelerates to build more connected, resilient, and sustainable cities, Grundfos has launched its new NK and NKE range in Asia-Pacific. The new long-coupled end-suction pumps feature industry-leading energy efficiency, with the premium NKE range utilising smart technology to bring ease of use, monitoring capabilities, and greater connectivity.

 

Being one of the most vulnerable regions in terms of climate risks (1), Asian countries are increasingly focusing their sustainability efforts on the built environment, as this sector is responsible for nearly a  quarter of total energy consumption and energy-related carbon emissions (2). Smart cities leveraging intelligent technology for their operations are now on the rise, as they can achieve more efficient use of resources such as energy and water.

 

As multi-purpose pumps that play a role in a variety of different applications in areas including cooling and heating in commercial buildings, Grundfos introduced the new and improved NK and  NKE range to complement its strong portfolio of energy-efficient water solutions, providing customers with a holistic range of highly efficient solutions at every level.

Achieving tomorrow’s efficiency demands today

The new NK and NKE range offer industry-leading energy efficiency as standard. All pumps are built to IE3 as a minimum, which reduces energy consumption and operation costs and exceeds all current regulatory requirements. For even greater control and efficiency, the premium NKE range is able to operate up to the highest  IE5 efficiency, achieved through intelligent features such as an integrated permanent magnet MGE  motor with variable frequency drive, and built-in pressure sensor.

 

These features work together in detecting and adjusting water pressure and flow intuitively, ensuring optimum conditions 24/7. With these intelligent components built directly into the solution, NKE removes the need to install any external components such as controllers, frequency converters, and sensors, which can add further complexity and costs to the process.

Intelligent control and monitoring at your fingertips

Combining cloud connectivity and digitalisation, the NKE range also allows for remote monitoring and access over the system, enabling intelligent control right at your fingertips. This makes NKE  compatible with today’s building automation and building management systems. Users can monitor, control, and schedule water use from their smartphone with the Grundfos GO  REMOTE app, available for both iOS and Android operating systems.

 

With the ability to manage tasks anytime when in range, NKE reduces the need for manpower, lowering operating costs. Users can also easily access pump diagnostics, and create and email reports on-site from the app. This ensures any operational issues can be quickly addressed, reducing unnecessary downtime and maintenance costs, and ultimately extending the lifespan of their end-suction pumps.

Designed and built to last

In addition to their advanced efficiency and intelligent upgrades, the new NK and NKE range also include significant technical improvements to maximise reliability and durability, enabling the pumps to be installed, operated, and maintained more easily. Notably, Grundfos utilised a single manufacturing process which eliminates misalignment, producing longer-lasting seals and bearings.

 

The pumps also boast improved hydraulics, which supports the overall efficiency in water flow conditions. The new pump design allows users to easily access the mechanical seal without the removal or disruption of other components. Other improvements include greater noise reduction and an increased temperature range.

 

Kenth Hvid Nielsen, Regional Managing Director, APAC, Commercial Buildings, Grundfos, said,  “Rapid urbanisation, demographic shifts, and climate change in Asia-Pacific are key drivers for the need for smarter and more sustainable solutions to build more resilient future cities. As the first company in the water solutions sector to receive full validation of our 2050 net-zero target from the Science-Based Targets initiative (SBTi), we are proud to launch the new NK and NKE range, which not only contributes to the region’s development of smart cities but also aligns with Grundfos’ climate commitments. With the new offering, we look forward to delivering more sustainable, efficient, and cost-effective pump solutions with shorter lead times and locally supported services across Asia Pacific.”

 

1 Credendo. Asia: Climate Risks are a Top Vulnerability for Asia.
2 International Energy Agency (April 2022). Roadmap for Energy-Efficient Buildings and Construction in the Association of  Southeast Asian Nations.
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Grundfos Appointed as Industry Partner to Support Singapore Polytechnic’s Green Campus Ambitions

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Grundfos, a global leader in advanced pump solutions and water technology, has been appointed by Singapore Polytechnic (SP) to be its industry partner to co-drive and support its decarbonisation journey through greater water and energy efficiency on campus. In alignment with the Singapore Green Plan 2030, SP has set out a robust decarbonisation journey of greening its campus, reducing its environmental impact, and nurturing stewards of sustainability, with ongoing efforts towards certifying all 22 buildings in SP Green Mark Platinum by 2025.

 

The appointment is an expansion of an existing partnership with Grundfos signed back in 2021, under which the two parties look to co-develop energy and water-efficient smart solutions that support industries in Singapore in their efforts to be sustainable, through collaboration, talent development, and sustainability education.

 

Under this newly expanded remit, Grundfos will be providing SP with industry expertise and counsel on how the polytechnic can achieve greater water efficiency on campus, by evaluating how smart water solutions can help reduce its water and carbon footprint. Grundfos will also be providing valuable proof of concepts in the form of regular knowledge sharing on pilot projects.

 

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To mark this occasion, an SP delegation led by Principal and CEO, Mr Soh Wai Wah, visited Grundfos’ global headquarters in Bjerringbro, Denmark for the partnership agreement signing ceremony. The delegate also toured the Grundfos wastewater treatment plant, the CR factory and the world’s leading dairy producer Arla’s Aarhus facility to experience smart water solutions in action. Both teams also had in-depth discussions on sustainability and education, areas of collaboration, and plans.

 

Commenting on this new milestone, Eric Lai, Grundfos’ Regional Managing Director, Industry – APAC & Country Director for Singapore, said that for Grundfos to support SP’s decarbonisation journey was a natural next step in their long-standing partnership. “With the first iteration of our partnership, we had set out to support Singapore’s small and medium-sized enterprises in harnessing energy and water-efficient smart solutions. Today, we are heartened to see SP demonstrating its commitment to ‘walk the talk’, by working with us to achieve a water and energy-efficient green campus using intelligent technology. We look forward to taking our work with SP to the next level through the expansion of this partnership and further supporting Singapore’s broader sustainability ambitions.”

 

Principal and CEO of Singapore Polytechnic, Soh Wai Wah, said, “SP believes in building a sustainable future for everyone, and has been working relentlessly to achieve this goal in our green journey. In our ongoing partnership with Grundfos, we have witnessed the real-life, tangible impact that smart sustainability solutions can make a difference in one’s carbon footprint. We are excited to work with Grundfos to showcase the green innovations and technologies to the region, and also amplify our sustainability efforts, and build a green campus that our staff and students can enjoy for generations to come.”

Grundfos cbs global hq ribbon cutting

Grundfos Commercial Building Services Unveils New Global Headquarters in Singapore

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Grundfos cbs global hq ribbon cutting

 

Grundfos, a global leader in advanced pump solutions and water technologies, today inaugurates the global headquarters of its Commercial Building Services (CBS)  division in Singapore. The move comes off the back of heightened demand for resource-efficient solutions to foster a sustainable built environment in Singapore and the region, where almost 56% of ASEAN’s population will be urban by 2030.

 

Serving commercial buildings such as hotels, hospitals, office towers, airports, and data centres, Grundfos’ CBS division delivers water pump systems that serve various applications supporting the successful operation of these buildings, including air-conditioning, cooling, heating, fire protection, to wastewater and water disinfection. A critical component of Grundfos’ relocation strategy will be the Singapore Innovation Hub, which aims to leverage local knowledge to pioneer future solutions for energy-efficient commercial buildings. The facility will look to bring Grundfos’ R&D capabilities closer to customers and the market, as well as provide a platform for collaboration with industry partners, customers, and researchers to co-develop energy and water-efficient smart solutions.

 

As part of developing the Singapore Innovation Hub, Grundfos has engaged in various feedback, steering and risk management efforts since March, following which the company will embark on identifying and developing key innovation initiatives, establishing a governance structure, and discussing areas of collaboration with potential partners. All this will contribute towards a comprehensive working plan for the new Singapore Innovation Hub by the third quarter of 2023.

 

Grundfos singapore

 

Singapore was selected for the relocation based on its strengths in innovation and talent, and its nationwide commitment to sustainability through its Singapore Green Plan 2030. Singapore’s strategic location as the gateway to other ASEAN countries also allows Grundfos to work more closely with customers in these markets and support their sustainable urbanisation needs.

 

Recent reports of climate change and rapid urbanisation have called for countries to examine their buildings’ environmental impact. The region’s building sector accounts for nearly a quarter of total energy consumption and energy-related carbon emissions, and this is still projected to grow by around 60 percent by 2030 and 120 percent by 2040. Specifically, space cooling is the fastest-growing use of energy in buildings globally and in ASEAN. Being one of the most vulnerable regions to climate change, the sector’s sustainability ambitions are high on the region’s agenda.

 

Poul Due Jensen, Group President & CEO, Grundfos, said, “Locating our CBS headquarters in the heart of Asia is part of our wider business strategy of operating as a truly global company. We also recognise  Singapore’s strong potential in becoming a hub for green innovation, which aligns with our business focus of driving global sustainability. At Grundfos, we are committed to delivering on our net-zero targets validated by the Science Based Targets initiative (SBTi) to ensure our growth is sustainable.  This includes designing our products and solutions to help our customers reduce their energy  consumption, conserve resources, minimise their environmental impact, and ultimately advance the global green transition.”

 

Bent Jensen, Group Executive Vice President & CEO of Commercial Building Services, Grundfos said,  “Cities are here to stay, and the future of humanity is undoubtedly urban. With that in mind, there is great urgency in driving a sustainable built environment globally that conserves energy and water use. This is especially important for ASEAN as this region’s urbanisation is unprecedented. Today’s milestone demonstrates our commitment to introducing cleaner, more energy-efficient technologies that can help existing and future buildings reduce their energy consumption and overall carbon footprint. We look forward to advancing a sustainable built environment both regionally and globally  with Singapore at the heart of our innovation and operations.”

 

Under the new CBS headquarters, Grundfos will also be strengthening its talent pipeline to over 200 employees, by bringing in global expertise and hiring local talents. The company will also continue its efforts in collaborating with public and private players locally.

Grundfos’ Distributed Pumping System

Grundfos Launches Intelligent Distributed Pumping System to Help Thai businesses Achieve Net-Zero Goals

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The automated solution can reduce energy use in commercial building cooling systems by up to 50%

Grundfos, a global leader in advanced pump solutions and water technology, today launched its Distributed Pumping System in Thailand, which can reduce energy consumption for cooling large commercial buildings by up to 50%, drastically cutting operational costs and helping Thai companies achieve their sustainability goals. Temperature control is one of the most energy-intensive functions in commercial buildings with heating, ventilation and air conditioning (HVAC) systems accounting for up to 40% of the total energy used.

Thailand’s tropical climate, the increasing effects of global warming and the construction of large malls, office towers and commercial buildings across the country highlight the need for smarter, more efficient HVAC. Grundfos’ Distributed Pumping System, which uses intelligent decentralised pumping to reduce energy consumption has met the cooling needs reliably across Southeast Asia over the past two years and has garnered a lot of interest in the region as well.

Grundfos’ Distributed Pumping System

Kenth Hvid Nielsen, Grundfos’ Regional Managing Director, APAC, Commercial Buildings and General Manager for Grundfos Thailand, said, “Energy-efficient solutions can play an important role in managing the nation’s greenhouse gas emissions, which will help support Thailand to achieve its Net Zero Carbon Emissions target and its Paris Agreement commitments. Cooling is key to making our cities habitable, but as global temperatures continue to rise, relying on conventional solutions will only further contribute to global warming. Sustainability is a key part of Grundfos’ DNA and today’s launch demonstrates our commitment to creating cleaner, more energy-efficient technologies to enable our customers to reduce their energy consumption and limit their impact on the environment.” said Mr Hvid Nielsen. “Sustainable cooling solutions are all the more important given the growing demand for air conditioning alone in the world’s emerging economies will drive a 64% increase in household energy use and produce 23.1 million tonnes of carbon emissions by 2041.

Improving energy efficiency will become increasingly important for Thailand as it works to meet its targets and commitments established under the United Nations Development Plan, the Paris Agreement and the upcoming COP26 climate conference in Glasgow. Conventional cooling systems circulate chilled water throughout their system without considering fluctuating demand. Adjustments, when made, are often manual, which is an imprecise, time-consuming, and energy-wasting process. These inefficiencies have been amplified since the COVID-19 pandemic, as many companies have shifted to more flexible working schedules which resulted in more variable cooling needs.

In contrast, Grundfos’ Distributed Pumping System, which can be used in a diverse range of commercial buildings, including hotels, hospitals, office towers, schools, and airports, intuitively regulates water flow based on feedback from temperature sensors, meeting the exact requirements of different building zones and intelligently controlling energy consumption by delivering the right flow at all times. Two notable sustainable cooling projects which highlight the solution’s high-performing energy efficiency are Grundfos’ Asia Pacific headquarters and Ngee Ann Polytechnic, both based in Singapore. Both projects reported that the novel system helped them achieve 55% pump system kWh energy savings, as well as a significant reduction in operational costs.

Grundfos Delivers Strong Financial Performance in 2020

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After having been significantly impacted by COVID-19 during the first half of 2020, Grundfos returned to stronger sales traction in the second half of 2020 with sales only 1.0% below 2019. Return on sales reached 9.9% and in a challenging year, Grundfos maintained a high customer satisfaction score and continued to deliver on its sustainability ambitions.

Return on sales (EBIT/Net turnover) reached 9.9% for the full year corresponding to Earnings before Interest and Tax (EBIT) of 2,606m DKK. Profitability was impacted by restructuring costs and other non-performance items. Adjusted for these non-performance items Grundfos’ return on sales reached 11.1%, which is the second highest in the company’s history. Full year net turnover ended at 26.3bn DKK, corresponding to a decline in sales versus 2019 of 4.4% when measured in local currencies.

A cash flow from operating activities of 3.5bn DKK and an equity ratio of 68.9% secures financial strength. This is a result to be proud of, says Poul Due Jensen, CEO and Group President, Grundfos. He added, “The COVID-19 pandemic made 2020 a challenging year for everyone and our main priorityhas been ensuring a safe working environment and to continue to serve our customers in the best possible way. We are therefore very satisfied with our result. Our financial strength allows us to invest further in our strategic ambitions and in innovation to fulfill our purpose of solving the world ́s water and climate challenges and improve quality of life for people.”

Grundfos also continued to deliver on its sustainability ambitions by once again reducing the company’s own water withdrawal by 51% and CO2 emissions by 36% compared to the 2008 baseline. The annual employee motivation survey, conducted in September, also showed an increase in employee motivation to a record high level.

“Grundfos is its people, and I am proud to see that we despite a global pandemic, deliver very strong financial results, an increase in our employees’ motivation and our customers’ satisfaction score.We also continued to deliver positive climate impact by significantly reducing our own energy consumption and enabling our customers to reduce their energy use as well. Furthermore, we have successfully gone live with our new customer-centric organisation. Grundfos is in really good shape and ready for the future,” adds Poul Due Jensen.

Financial highlights full-year 2020:

  • Net turnover 26.3bnDKK
  • Sales growth (in local currencies) versus last year of -4.4%
  • Return on sales of 9.9%

Grundfos Launches Investment-Free Guaranteed Energy Savings Programme for Thai Businesses

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Grundfos, a leading pump and water solutions manufacturer,has launched a new service model in Thailand that can help local businesses cut energy consumption by more than one-third,achieving greater sustainability at a lower cost while supporting the country’s goal of reducing greenhouse gas emissions by at least 20% by 20301.

Grundfos Energy Earnings (GEE) is a new, shared energy saving programme where Grundfos absorbs the investment cost of replacing customers’ current equipment with new environmentally friendly solutions, as well as installation and ongoing maintenance. Under this new self-funding service model, Grundfos and customers will share the realised savings from GEE for five years.

Products offered through GEE include LS pumps, controllers and energy-efficient motors. Pumps account for 10% of global energy consumption. Switching to newer technology can have a significant positive impact. Advanced pump solutions, which can be used for various applications across diverse segments, are especially suitable for the hospitality industry where hotels, entertainment arenas and other facilities play a critical role in supporting the Thai economy.

Mr Lewis Brown, Grundfos Regional Service Business Developer, Asia Pacific Region

GEE can also help municipal electricity authorities reduce their energy consumption. Grundfos is dedicated to supporting Thai efforts to reduce energy consumption, in line with a growing domestic environmental movement where consumers and businesses are becoming increasingly concerned about how human activity is damaging the country’s natural and urban environments.

Mr Lewis Brown, Grundfos Regional Service Business Developer, Asia Pacific Region, said, “Sustainability is a very important part of Grundfos’ DNA. The pandemic this year has reaffirmed the importance of achieving our climate ambitions, as we are reminded of the impact human activities have on the environment. We are committed to helping our customers to reduce their water and energy consumption to limit their carbon footprint.”

He added: “At the same time, we aim to demonstrate that financial and environmental goals are not mutually exclusive. Our GEE model showcases the benefits of replacing energy-intensive equipment with our pioneering technology that can reduce both environmental and financial costs.”

Grundfos this year launched GEE with the Ramayana Water Park in Pattaya, replacing the existing pumps at Thailand’s largest water park, enabling it to reduce its energy consumption by 31%. The project will exceed 1,000,000 kWh in savings and 450 tonnes of CO2 emissions — about the same as permanently removing 170 cars off the road. Financial savings for a customer can reach up to 1.5million baht per year of cost savings.

“GEE has the potential to deliver real financial savings. Customers in the hospitality industry, who have been pressured by the Covid-19 pandemic,can benefit from developing greater resilience to help them overcome challenges caused by the pandemic while helping them on a path to a more sustainable future in the longer term. These savings will have a significant impact on our customers’ bottom line, as well as our commitment towards sustainability and the environment. We forecast to reach 30 Asia Pacific customers within the next five years,” said Mr Brown.

Click here for more information about Grundfos Energy Earnings (GEE).

 

Reference:

1. In the lead-up to the 2015 Paris Agreement, Thailand proposed its nationally determined contribution to reduce greenhouse gases by around 20 to 25% by 2030.