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Tue, 06 Jan, 2015 12:06:19 AM FTimes Report, Jan. 06  Press Release Photo. GreenStream recently announced its expansion in Chinese steel industry and now the company has signed a new project with Chibi Chenli Paper Company Limited, a Chinese paper company located in Hubei province.
The project is a great addition to GreenStream’s Energy Management Contract (EMC) project portfolio and will save up to 40% of energy in the paper machine’s vacuum system, said a press release.
GreenStream has grown rapidly in China during past two years and has a strong project pipeline of over 20 projects in energy intensive industry.
GreenStream operates in Chinese paper and steel industries, and is looking to extend its operations to chemical industry in 2015.
“Energy efficiency in China offers boundless opportunities and our goal is to be one of the market leaders in the EMC sector”, said GreenStream’s Chief Executive Officer Jussi Nykänen.
The company’s business model utilizes EMC, whereby the project owner is able to access world-class technology without upfront capital costs. Pursuant to the EMC model, GreenStream organizes financing, technical solutions and engineering for its industrial clients.
The value of the energy savings created by the project are shared between GreenStream and the project owner for a defined period. Between 2010 and 2015 China’s target is to achieve 30% annual growth rate in EMC market.
“We have indeed attained the pace of growth which we have targeted in the last couple of years in China. The Chinese EMC market is growing rapidly and we have been able to keep our position of market leadership,” said Harri Roto, the COO of GreenStream.
“Our project pipeline is stronger than ever, our networks to both Chinese industrial factories and Nordic technology companies have strengthened, and our reputation as high quality EMC project manager in the Chinese energy intensive market is expanding continuously,” he added.
GreenStream’s unique offering is that it is technology independent, with access to leading Nordic Cleantech and offering EMC financing to promote the best available foreign technology solutions to industrial installations in China.
“The core of our concept is to find the best and most robust solutions for our Chinese clients,” said Nykänen.
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