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Georgian Pharma Company Uses FINTECC Program to Finance Energy Efficiency Upgrades

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Aversi Pharma, a privately-held pharmaceutical company in the country of Georgia, has received $245,000 in financing from Finance and Technology Transfer Centre for Climate Change (FINTECC) for the installation of energy efficiency upgrades in Aversi’s hospitals and clinics.

Energy efficient upgrades include double-glazed windows, high-efficiency chillers and boilers as well as LED lighting and light control. Aversi expects to achieve 25% energy savings and 530 tons of CO2 savings per year.

FINTECC is part of a global drive towards climate technology transfer for developing countries and countries in transition.

According to finchannel.com, FINTECC “helps companies in participating European Bank for Reconstruction and Development (EBRD) countries to implement ‘climate technologies.’ These include technologies for energy efficiency, renewable energy, water efficiency and materials efficiency. Climate technologies reduce greenhouse gas emissions, and/or lead to increased climate resilience.”

Additionally, other pharma companies are also searching for ways to increase energy efficiency. A bio-pharmaceutical manufacturing company in Northern California is attempting to use ice to decrease energy costs by 56%. Ice-based storage in general has grown popular. GAR Laboratories reported that using a storage system from Ice Energy reduced monthly electric bills from $571 to $117 for two of its buildings.

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