Firm Rewards BBP, Casual Dining Group, and Golden Data Systems for Innovative Projects that Create Environmental and Business Value
Pictured above from left to right: CV Kumar (COO, BBP), Ong En-Ping (CFO, BBP), Henry Kravis (Co-CEO, KKR), Poyan Rajamand (CEO, BBP) (Photo: Business Wire)
Press Release – NEW YORK & SINGAPORE – December 19, 2018 – KKR, a leading global investment firm, today announced that Barghest Building Performance (“BBP”), a Singapore-based provider of energy savings solutions, is the winner of KKR’s third Eco-Innovation Award. KKR also announced Casual Dining Group and Golden Data Systems as 2018 Eco Grant recipients for their early-stage efforts around reducing food waste in restaurants and minimizing energy consumption in data centers, respectively.
Launched in 2016, KKR’s Eco-Innovation Award recognizes a current project by one of KKR’s portfolio companies that provides an innovative, environmentally beneficial solution while creating business value. This year, KKR introduced Eco Grants, a new category of recognition for early-stage projects, to the award process. Both honors are part of the Firm’s global effort to enhance KKR portfolio companies’ initiatives across a wide range of sustainability issues that drive business value.
A panel of expert judges, as well as an internal KKR and KKR Capstone employee vote, chose BBP to be the 2018 Eco-Innovation Award winner for its Next Generation Heating, Ventilation, and Air Conditioning (“HVAC”) Energy Optimization Technology, which serves systems in commercial and industrial buildings and results in significant energy and cost savings for its customers. BBP’s energy efficiency solution applies a combination of proprietary software, customized engineering, and equipment that maintains the appropriate temperature of its customers’ sites while consuming up to 40% less energy. In 2017, BBP helped its customers save more than 15 gigawatt hours of electricity, resulting in approximately 8,000 tonnes of avoided greenhouse gas emissions.
As the winner of the Eco-Innovation Award, BBP will receive a US$25,000 financial prize as well as customized project enhancement support, which will be used toward improving its technology to further enhance BBP’s broader environmental and business impact.
“We are honored to be recognized by KKR and look forward to building on the firm’s confidence in us by continuing to innovate towards much greater impact,” said Poyan Rajamand, BBP Co-Founder and CEO.
Elizabeth Seeger, Director, Sustainable Investing at KKR, said, “Each year, we are increasingly excited by the incredible work happening across our portfolio as it relates to eco-innovation. This year, we not only congratulate BBP, Casual Dining Group, and Golden Data Systems for the significant value they’re working to create, but also acknowledge the many companies in our portfolio whose environmental efforts continue to make us proud partners.”
The Expert Judging Committee involved in the Eco-Innovation Award selection and scoring process includes leaders from around the globe who represent corporate and nonprofit expertise from KKR and KKR Capstone; nonprofit partner organizations Environmental Defense Fund and BSR (Business for Social Responsibility); as well as Walgreens Boots Alliance and 2017 Eco-Innovation Award winner US Foods. Evaluation criteria used by judges to analyze submissions included business value, environmental sustainability, and eco-innovation. For more on the history of KKR’s Eco-Innovation Award, the winning projects, and the selection process, please visit kkresg.com/ecoaward.
About KKR
KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.
About KKR Capstone
KKR Capstone is an operational team of highly experienced industry executives and functional specialists. The team works exclusively for KKR and its portfolio companies on the ground in partnership with management teams to create sustainable improvements. With offices in the Americas, Asia and Europe, KKR Capstone has the capacity, capability, and scale to support complex, global businesses. KKR Capstone is not a subsidiary or affiliate of KKR.
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