Nostromo Energy Ltd. (TASE: NOST), which provides sustainable energy storage solutions to commercial and industrial customers based on its proprietary IceBrick(TM) technology, today announced a collaboration with Anheuser-Busch InBev SA/NV (NYSE: BUD), a multinational drink and brewery company (AB InBev), to create a long term plan that will provide solutions to meet the 'Climate Action' goal of the 100+ accelerator.
The 100+ Accelerator was launched in 2018 to help AB InBev reach its ambitious sustainability goals faster and was joined earlier this year by Coca Cola (NYSE:KO), Colgate Palmolive (NYSE:CL) and Unilever (NYSE:UL) as full program partners, to fund and pilot sustainable innovation in their supply chains. So far the 100+ Accelerator has worked with technology companies across 16 countries, with more than half of them securing long term contracts with AB InBev. Nostromo is one of 36 companies accepted to the program out of 1300 companies that applied.
In the course of the collaboration, Nostromo will map out the opportunity and develop a roadmap to implement Nostromo's IceBrick's cold-energy storage technology in InBev facilities to help AB InBev accelerate integration of renewable energy, reduce carbon emissions and enable the charging of more EVs within the facilities. The parties will collect and analyze data from different facilities related to energy use and cooling demands, in order to evaluate the potential environmental and financial benefits, and develop the tools and methodology for broad integration of the technology.
Maisie Devine, Global Director and Managing Partner of the 100+ Sustainability Accelerator said 'Our sustainability goals are ambitious and we know that we don't have all the answers. We view innovation as a key driver of progress towards our 2025 goals and the UN SDGs. To that end, we collaborate with passionate entrepreneurs, innovators, engineers, investors and scientists who are working to solve some of the world's most pressing challenges. These partnerships are key to moving us forward. We go further together than alone.'
'Together, we are striving to supercharge adoption of sustainable solutions by funding and accelerating fantastic innovations that will change the world by making all of our businesses more sustainable at a global scale.' Said Carolina Garcia, Global Sustainability, Innovation & Operations.
Boaz Ur, Nostromo Chief Commercial Officer said: 'We are proud to work with a global leader in sustainability innovation as AB InBev, and excited about the partnering opportunities offered by the 100+ program. We welcome the opportunity to work with the world's greatest corporations and brands who are ready to embrace the vision of turning commercial buildings and manufacturing facilities from burdens on the grid, into energy storage assets. Nostromo's water based energy storage can truly contribute to these corporations' admirable climate action goals, while reducing costs, adding resilience to the operations and supporting the communities surrounding their facilities'.
For more details about the 100+ accelerator program see - https://www.100accelerator.com
About Nostromo Energy
Nostromo accelerates the renewable energy revolution, with its sustainable energy storage
solution that enables commercial and industrial buildings to do their part in stopping climate
change by becoming large-scale energy storage assets. Nostromo paves the way to a
carbon free electric grid, while offering a safe, clean and financially beneficial system to
building owners. Nostromo's revolutionary technology, the IceBrick(TM), stores cold energy
during off-peak or surplus solar hours and uses it to power commercial space cooling, which
accounts for approximately 40% of power demand during peak hours.
News Source: News Direct
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