About BASE
The Basel Agency for Sustainable Energy (BASE) is a Swiss not for profit foundation and a specialized partner of the United Nations Environment Program (UNEP) founded in 2001. Around the world, BASE designs, develops and implements innovative financial mechanisms and business models to catalyze investments towards sustainable energy and to meet the challenge of climate change.
The Basel, Switzerland (21 January, 2020) Cooling as a Service (CaaS) is an initiative 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 use 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.
To mainstream the model around the world, BASE is accepting applications for incubator projects from technology providers offering highly efficient air-conditioning or refrigeration solutions using low-global warming potential (GWP) or natural refrigerants. From all the applicants, 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 winners will be announced on February 28, 2020. Please 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
Or Contact: Veronica Corno, BASE Climate Finance Project and Communications Officer at veronica.corno@energy-base.org
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