KKR said that the investment is a move in addressing global societal challenges for the firm

Barghest Building Performance (BBP) announced yesterday that it has received up to SGD45 million (US$32.8 million) investment from global investment firm KKR. BBP is a Singapore-based provider of energy savings solutions to Heating, Ventilation and Air Conditioning (“HVAC”) systems in commercial and industrial buildings.

“We invested in BBP because we share the passion of this dynamic, entrepreneurial team to build BBP into a pan-Asian energy solutions leader. We’re excited to be investors, and we’re equally excited to be customers as we believe that many of KKR’s portfolio companies will also benefit from BBP’s solutions,” said Ashish Shastry, KKR Member & Head of Southeast Asia.

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Using a combination of proprietary software algorithms, sensors, customized engineering, and equipment to deliver the same cooling load to sites, BBP’s tech solution manages to consume up to 40% less energy. This allows for all central chiller plant systems, regardless of brand or age, to be efficient.

Besides the software and engineering system, BBP’s clients can also use sustainable commissioning technologies and asset management services that track the level of savings over long periods of time.

“With KKR and their resources onboard, we are thrilled knowing how much greater the impact of our solution can be – well beyond Asia – and we are greatly looking forward to working with KKR in accomplishing our mission,” said Poyan Rajamand, BBP Co-Founder and CEO.

KKR has stated that the investment is part of the firm’s Impact strategy, which is focused on identifying and investing behind businesses with positive social or environmental impact that contribute solutions to one or more of the United Nations Sustainable Development Goals (“SDGs”).

“BBP contributes solutions to two of the United Nations SDGs – Affordable and Clean Energy, and Industry, Innovation and Infrastructure – with a business model meant to fundamentally change best practices for energy management. The long-term goal is to achieve meaningful and sustainable costs savings for customers directly alongside measurable environmental impacts for society,” said Robert Antablin and Ken Mehlman, Co-Heads of KKR Global Impact.

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BBP was founded in 2012 and currently operates across eight markets, including Southeast Asia, China, India and Taiwan. The company is accredited by Singapore’s national government bodies such as the Infocomm Media Development Authority, National Environment Agency and Building and Construction Authority.
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Image Credit: BBP

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