Servidyne Signs its Largest Energy Efficiency Contract

Servidyne, an energy efficiency improvement company, announced that it has signed its largest ever energy efficiency contract till date with a major retailer in the United States to significantly improve energy efficiency in about 600 of its distribution centers and stores. The total revenue from the contract is estimated to be $8.7 million. The project should commence at once and be completed within the next 12 to 24 months.

The partnership is expected to be continued by both the companies beyond this initial agreement for another two to three years, in a major green initiative by the customer to implement this energy efficiency project to all of its existing as well as new locations including its franchisees.

President and CEO of Servidyne’s Building Performance Efficiency Segment, Todd Jarvis, said the company has been developing this energy efficiency program along with its customer for the last 18 months through a number of pilot demonstration projects. As per the company’s estimate, the shareholders of the customer will realize a 40% yield on the invested capital, Jarvis said.

The project involves lighting efficiency upgrades and installation of an automated system of the customer’s heating and cooling equipment. The new automated system will provide energy consumption data to the customer in real-time. In addition, Servidyne will help all the 600 facilities of the customer to take advantage of financial incentives if any that may be provided by their respective energy utility providers. The contract also includes the tracking the greenhouse gas emission reduction and compute resulting benefit to the environment.

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