CAC 2000 Limited (CAC) and Tropical Battery Company Limited (TROPICAL), both listed on the Junior Market of the Jamaica Stock Exchange, are pleased to announce the joint formation of ENRVATE Limited, a company duly incorporated under the guidelines of the Companies Office of Jamaica on April 29, 2021. ENRVATE will officially start offering its product and services as of June 1, 2021.
The joint venture will be led by Steven Marston, former CEO of CAC 2000 Limited a qualified Air-Conditioning and Energy Engineer and accomplished businessman, in conjunction with a jointly selected Board of Directors.
ENRVATE will adopt a unique approach to establishing energy saving solutions for our commercial customers in Jamaica and the Caribbean by focusing on real-time measurement, monitoring of energy consumption, and using the resulting data to identify, design, and execute energy and water saving opportunities. The goal is to work with customers to achieve minimum savings of 25%, with the ultimate achievement being NET ZERO consumption. Enrvate plans to develop innovative financing solutions for qualified customers through the issuance of a Green Bond along with equity capital.
This joint venture is in line with CAC 2000 Limited strategy to develop complementary partnerships which are in keeping CAC’s purpose of Improving People’s Lives by excelling as the leading experts on energy and Indoor Environmental Quality (IEQ), by engineering solutions and providing products and services that sustain healthy, comfortable, and productive indoor environments, actively generating energy savings for our customers, whilst improving and diversifying our revenue streams.
Tropical Battery has over 70 years of experience in the energy storage business. We recognize the global trend of lower price energy storage solutions (batteries) and how this fact makes becoming energy independent more affordable, practical, and just better for the environment.
We (CAC and TROPICAL) are both passionate about the planet, people, and profits, and we anticipate this 50-50 partnership will help us achieve our goals faster and make our Caribbean paradise a better place to live and work.