Integrated Engineering and Production Hub for Smart and Energy Efficient Community Heating Systems

About this project

<p><span style="font-size: 11pt"><span style="font-family: Calibri, sans-serif">Evinox products and solutions contribute to the reduction of energy consumptions and CO2 emissions from space heating, facilitating the installation and operation of eco-efficient heat networks. The products are equipped with Evinox controls and software and sold by Evinox Energy Ltd. With this project, the company is aiming to extend the production capacity and internalize some of the activities that are currently subcontracted.<br> <br> The company wants to implement a state-of-the-art in-house sheet metal fabrication and powder coating capacity for the enclosures and metal components in the final products to complement the existing fabrication and product assembly capacities. This would enable fast and cost-effective introduction and industrialization for the new products in the development pipeline. Subcontracting metal fabrication and powder coating significantly affects the gross margin and operating profit. Relying on outside suppliers also limits the production and growth capacity as well as slow down the product development process. The key activities are:</span></span></p> <ul> <li><span style="font-size: 11pt"><span style="font-family: Calibri, sans-serif">Project management by internal team with support of a consultant.</span></span></li> <li><span style="font-size: 11pt"><span style="font-family: Calibri, sans-serif">Investment activity which includes purchasing and implementing the equipment.</span></span></li> <li><span style="font-size: 11pt"><span style="font-family: Calibri, sans-serif">External consultancy for grant management and financial audit.</span></span></li> <li><span style="font-size: 11pt"><span style="font-family: Calibri, sans-serif">Project publicity to ensure visibility of the project.</span></span></li> </ul> <p><span style="font-size: 11pt"><span style="font-family: Calibri, sans-serif">The successful implementation of the project will lead to an increase in production capacity and competitiveness of the final products, through reduced inbound purchases, faster order completion times and reduced downtime due to late supplier deliveries.<br> <br> CO2 is estimated to annually decrease from 91 tonnes in 2021 to 66 tonnes in 2024. The projected is expected to lead to a creation of 13 new jobs.</span></span></p>