<article>Singapore-based private equity firm <a style="color: #000080;" href="http://www.tembusupartners.com/en/index.php" target="_blank">Tembusu Partners</a> said it has invested a ‘seven figure’ amount in local energy services startup <a style="color: #000080;" href="http://bbp.sg/" target="_blank">Barghest Building Performance</a> (BBP).</article>

Singapore-based private equity firm <a style="color: #000080;" href="http://www.tembusupartners.com/en/index.php" target="_blank">Tembusu Partners</a> said it has invested a ‘seven figure’ amount in local energy services startup <a style="color: #000080;" href="http://bbp.sg/" target="_blank">Barghest Building Performance</a> (BBP).
Tembusu Partners, which manages close to S$300 million, will be making this investment from its <a style="color: #000080;" href="http://www.tembusupartners.com/en/index.php/funds/tembusu-growth-gip-fund-iii/" target="_blank">Tembusu Growth GIP Fund III</a>, which has a target size of S$150 million. This also marks the first investment from this fund.  (View the executive summary of Tembusu Growth GIP Fund III <a style="color: #000080;" href="http://www.tembusupartners.com/en/wp-content/uploads/2014/09/EN_TGIPIII-Summary-Sep-2014.pdf" target="_blank">here</a>)
Tembusu is of the opinion that it is among the first PE firms in Singapore to have adopted this strategy of investing in such startups, and said that its decision to inject capital in the company comes at a time when governments and private companies were seeking new energy efficiency technologies to minimise their environmental impact and related costs.
BBP provides energy optimisation services to companies in Singapore’s hospitality, industrial, office and retail sectors and it plans to expand to Malaysia and Thailand in the near future.
BBP’s current clients achieve cumulative energy savings of over 17 million kWh per year. It plans to use the investment to further grow its client base across more sectors in Singapore and the surrounding region.
Justifying the deal, the PE firm said that energy comprises up to 60 per cent of operational costs of a building, and highlighted that BBP had a variety of energy conservation solutions, which optimize existing building systems and equipment such as energy-intensive chiller plants.
“BBP’s scalable, continuous optimization solutions draw on cloud technology to deliver real-time insights and minute-level control, as well as data-driven maintenance and preventative systems. The solutions maintain cool temperatures within buildings while consuming less energy and reducing costs. The solutions can be installed within any building management system, without implementation or operational risks, at no up-front cost to clients. BBP is paid through either a pre-agreed portion of the clients’ long-term energy savings or a fixed monthly payment,&#8221; the private equity firm said in a statement.
Andy Lim, chairman and founder of Tembusu Partners, said: “Singapore has fast-tracked itself to become a regional centre for green innovation, and Tembusu Partners is proud to support this homegrown success. We are confident that our investment in BBP will reap rewards not just for our clients, but for Singapore as well.”
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Tembusu Partners said it has invested a ‘seven figure’ amount in local energy services startup Barghest Building Performance (BBP).

Tembusu injects 'seven figure' sum in energy services startup BBP

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Tembusu injects 'seven figure' sum in energy services startup BBP

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