As part of its program to support emerging entrepreneurs in the Latin America and Caribbean (LAC) region to overcome the challenges of the pandemic, IDB Lab, together with its partners Deetken Impact Sustainable Energy and CABEF-HREFF, approved new debt financing to the Trinidadian company Energy Dynamics Limited (EDL) to provide services throughout the Caribbean to help companies convert to clean energy, improve their energy efficiency and install technology that reduces possibility of COVID outbreak in internal office spaces.
EDL is an Energy Service Company based in Trinidad and Tobago, founded in 2000. The company’s customers are based throughout the Caribbean, and include manufacturers, hotels, commercial offices, universities, and hospitals. EDL’s business to business (B2B) model helps their customers de-risk initial energy efficiency and renewable energy investments by providing solutions on a performance contract model, generating revenue either from shared or guaranteed energy savings, and providing financing over a period of up to ten years. The company has developed the Corporate Utility Management Program (CUMP) that, besides energy management, energy efficiency and renewable energy, also includes water management, indoor environment quality management (IEQ) & training and culture/ behavioral change management of staff.
Its newest product is the “C-MIST” service (COVID Management, Indoor Environment Quality Engineering, Sanitization and Technology), provides facilities and office buildings with COVID resistant conditions as a response to the COVID-19 pandemic in the region. Promoting the C-MIST service, EDL will expand the Indoor Environmental Quality (IEQ) component of its existing CUMP model to include services which will improve the ventilation and provide technical solutions to make existing regional buildings COVID-19 resistant.
As part of this service, EDL will be retro-commissioning buildings so that they have better ventilation and will include special high efficiency filters (MERV13+), ultraviolet (UV-C) lamps and bi-polar ionization technology on the HVAC systems. EDL expects that the CUMP and C-MIST services will be strategic to help the hospitality industry curtail operating costs and bounce back more quickly to operations, transmitting confidence to tourists seeking safe environments. The loans from IDB Lab and CABEF-HREFF will allow EDL to acquire the equipment and hire staff needed to bring these new technologies to fruition in several countries in the Caribbean region.