Applications Open for Cooling-as-a-Service Projects to Receive Free Support

To mainstream the Cooling-as-a-Service (CaaS) model around the world, Switzerland-based BASE (Basel Agency for Sustainable Energy) is seeking applications, until February 14, to receive free support for incubator projects that use highly efficient air-conditioning or refrigeration solutions with low-GWP or natural refrigerants.

Five companies will be selected to receive free support from BASE to integrate CaaS into their business lines. Selected companies will receive assistance on technical, legal and financial aspects to implement the CaaS model, such as contractual arrangement, pricing strategy, and financial structuring, including risk mitigation mechanisms, among others.

The CaaS Initiative is led by BASE, along with the Kigali Cooling Efficiency Program (K-CEP), and with the endorsement of the Global Innovation Lab for Climate Finance. It aims to decrease energy consumption and greenhouse gas emissions (GHG) from cooling through a pay-per-service model for more efficient cooling systems. 

“CaaS is a promising financial instrument that works to overcome key market barriers to clean and efficient cooling, without upfront investment, with integrated financial tools to recapitalize technology providers,” said Daniel Magallón, Managing Director of BASE.

The application deadline is February 14, 2020, and the winners will be announced on February 28, 2020. Interested parties can apply through the CaaS website.

For more information on CaaS, visit the CaaS Initiative website, the BASE’s project page or the Global Labs’s project page