RICHMOND, Calif., July 11, 2017 /PRNewswire/ -- Following the success of the Refrigeration Battery demonstration at a Whole Foods Market in California, Axiom Exergy is collaborating with Hillphoenix, a leading manufacturer of refrigeration equipment and service provider in the U.S. food retail industry. Given Hillphoenix's significant technology portfolio, installed base, and success of their energy efficiency AMS Group, the relationship offers synergies in technology, sales, and marketing.
"Axiom Exergy offers an interesting solution for facilities with large refrigeration systems to reduce their operating costs, as well as improve their resilience during power outages," said Eduardo Navarro, senior vice president Product Strategy and Innovation for Hillphoenix. "As a pioneer in designing environmentally-sustainable refrigeration systems, we've removed an equivalent of 5.1 billion pounds of harmful emissions over a two decade period. Axiom's development of its Refrigeration Battery technology shares the innovative spirit that guides Hillphoenix. We are excited by the opportunity to work with Axiom in offering high reliability / low operating cost refrigeration solutions to customers."
The Refrigeration Battery is a thermal storage solution designed to increase profit margins at supermarket chains by decreasing energy costs and increasing store resilience during power outages. By leveraging the store's existing refrigeration system, the Refrigeration Battery stores "cooling" at night by freezing tanks of salt water when energy costs are low. Then, when electricity prices peak during the afternoon, the Refrigeration Battery "discharges" like any other battery to provide uninterrupted cooling services. Axiom offers the Refrigeration Battery to its customers via a savings-as-a-service model, requiring no upfront capital or out of pocket expense for the life of the project; it is considered an energy service and off-balance sheet, enabling supermarket owners to reserve precious capital for revenue-generating investments. The technology has an estimated lifespan of 25 years.
Hillphoenix and Axiom Exergy aim to develop and market storage-enabled refrigeration platforms to enhance the market leadership of both companies. In addition, Hillphoenix is positioned to support engineering, construction, and ongoing operations and maintenance for Axiom's Refrigeration Battery platform.
"We've been impressed with Hillphoenix's track record of consistently advancing the state-of-the-art in the refrigeration industry in the past decades," says Amrit Robbins, president and co-founder of Axiom Exergy. "As we scale up to the over 60,000 addressable retail, cold storage, distribution, and manufacturing sites in the U.S. alone, it's imperative to find key partners that have the combination of a vast industry footprint and also are actively seeking groundbreaking solutions being developed by early-stage technology companies like Axiom."
Hillphoenix brings a wealth of practical experience in supporting supermarkets and cold storage facilities to identify, engineer, and install a variety of energy and refrigeration technologies at sites located throughout the United States. The AMS Group within Hillphoenix offers turnkey services for energy efficiency upgrades and retrofits designed to improve the shopper's experience and the supermarket's bottom line. Going forward, Axiom's Refrigeration Battery will be an additional service that The AMS Group can provide to help customers reduce costs and increase resiliency.
Beyond its installation with Whole Foods Market, Axiom Exergy has an installation underway at a Walmart in San Diego, as well as a $5 million rollout contract with Con Edison.
ABOUT AXIOM EXERGY
Axiom Exergy is an industrial Internet-of-Things (IoT) company focused on transforming the world's cooling systems into intelligent, cloud-connected energy storage assets. Its Refrigeration Battery® technology enables historically-inflexible commercial and industrial refrigeration systems to operate flexibly and intelligently for the first time. With deep expertise in supermarket energy management, thermal energy systems engineering, cloud software development, and data analytics, Axiom Exergy provides its customers with turnkey power management solutions that reduce operational costs and business risk. Axiom Exergy also offers fully-financed "Storage-as-a-Service" so that supermarkets and commercial buildings with high refrigeration-based energy loads can save more than they pay from day one. www.axiomexergy.com
Hillphoenix Inc., a Dover Company, is based in Conyers, Georgia. The company designs and manufactures commercial refrigerated display cases and specialty products; commercial and industrial refrigeration systems; and integrated power distribution systems. Our mission is to provide fresh, innovative solutions that help our customers stay relevant and competitively differentiated. Our vision inspires us to deliver creative, flexible and responsible innovations in food retail refrigeration. http://www.hillphoenix.com
SOURCE Axiom Exergy