Israeli energy startup Phoebus Energy, supported by the Terra Venture Partners venture capital fund, has signed an agreement with the Fattal Hotels chain for the installing of a smart system for saving on energy in the chain's nine hotels in Israel.
The new technological system developed by the company provides a solution for saving on energy used in heating and air-conditioning at hotels, hospitals, and sports centers. It will save 50-75% on the chain's heating and air-conditioning costs. The system will also reduce pollution caused by energy consumption. The Fattal chain will save NIS 40 million by using the system over the coming decade.
The system developed by Phoebus is controlled by cloud computing software that runs an algorithm every few minutes that finds the optimal way of producing the amount of energy required to operate the site on which it is installed. The company's systems are controlled through a special smartphone application that calculates, among other things, the quantity of pollutants prevented by the system, the monetary saving, etc.
Phoebus Energy CEO Ronen Botzer said today, "We're seeing a global trend of switching to more economic and less polluting energy management. Our system is built to produce and optimize energy in large systems, at a huge saving in money and energy resources. The energy costs of hotels in Israel average 5% of their turnover, which is certainly a considerable proportion. We are currently in the process of installing a pilot at a large international hotel chain in Spain, which has chosen Phoebus's solution for saving energy in the coming years at all of its hotels."
Fattal CEO Reuven Elkes says, "Over the past two years, we have switched most of the chain's energy facilities to new smart systems that both cut costs substantially and significantly reduce air pollution. I'm glad that we have the chance to do it using Israeli technologies."
Phoebus was founded in 2007 by VP product development Yoav Ben Yaacov, company director Dr. Harold Wiener, and company director Dr. Astorre Modena. Investments in the company have totaled $7 million to date, partly from Terra Venture Partners, other funds, and private investors. The company won an award for industrial design, and was selected as one of the more promising private companies for 2013 by the Cleantech Group. Phoebus's new system has been installed in a large number of hotels in Israel, including the Dead Sea Crown Plaza, the Azrieli Crown Plaza, the Tel Aviv Sheraton, and others.
Published by Globes [online], Israel business news - www.globes-online.com - on December 18, 2014
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