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Energy efficient machinery and steam system optimization implemented with the help of GEFFF saves 30% of Fresh Electric’s energy consumption per year.
Fresh Electric Company for Home Appliances was founded in Egypt in the year 1987. The company evolved into a leading brand name in the world of home appliances with more than ten factories in 10th of Ramadan City industrial zone, Badr City, Kantara City in Egypt. The company produces over 680 varied models of premium products manufactured and assembled in its own facilities where 50% production capacity goes to export in 45 countries in Europe, Africa, the Middle East and Asia while the rest covers the local market.
Looking to reduce its electricity bill and ensure its product complies with international quality and environmental standards, the company had a plan of replacing 13 plastic injection machines, used in the production of home appliances, which is very energy intensive machinery, with new energy-efficient ones. It also optimized the steam system in one boiler to reuse its waste of water vapour in heating another boiler.
The GEFF team performed the project analysis, assessed the potential of energy savings, financial-technical parameters and risks.
The US$ 3.5 million investment allowed the company to reduce the energy consumption by 55,000 MWh per year, resulting in the annual costs savings of US$ 244,000. This means the investment will be repaid out of energy savings in 3 years, continuing to generate profit for many years to follow. The project also resulted in production capacity increase by $2,800,000.
The new equipment led to a reduction of the CO2 emissions by 2,000 tonnes per year, making a valuable input towards mitigation of negative effect of human activity on climate.
“This was an investment, not an additional cost which helped us develop our products, increase profitability and match our products with international quality and environmental standards, required in all export markets”.
The Green Economy Financing Facility in Egypt was developed by the European Bank for Reconstruction and Development (EBRD) and is supported by EBRD’s Shareholder Special Fund and SEMED Multi-donor Account.