Tropical Battery Company Limited Announces Joint Venture with CAC – Launch of ENRVATE Limited

• CAC 2000 Limited (CAC) and Tropical Battery Company Limited (TROPICAL), both listed on the Junior Market of the Jamaica Stock Exchange, announced the joint formation of ENRVATE Limited on April 29, 2021. 
• ENRVATE will adopt a unique approach to establishing energy saving solutions for commercial customers in Jamaica and the Caribbean by focusing on real-time measurement and monitoring of energy consumption and using the resulting data to identify, design, and execute energy and water saving opportunities. 
• The goal is to work with customers to achieve minimum savings of 25%, with the ultimate achievement being NET ZERO consumption. Enrvate plans to develop innovative financing solutions for qualified customers through the issuance of a Green Bond along with equity capital. ENRVATE  officially started offering its product and services as at June 1, 2021. 
• Both companies stated that they are passionate about the planet, people, and profits, and anticipate that this 50-50 partnership will help them achieve their goals faster. Furthermore, the joint venture is in line with CAC’s strategy to develop complementary partnerships to become a leading expert in energy and Indoor Environmental Quality. 
• We believe the partnership provides value to both entities, as it will support revenue diversification. Most businesses and consumers in the region are looking for ways to reduce energy costs to improve earnings and stretch disposable incomes.

(Source: Jamaica Stock Exchange)