Singapore Building Owners Save $1.2 Million in Energy Costs Through Academic-Industry Partnership between ACwise and Ngee Ann Polytechnic's CfES
To drive reductions and meet net-zero targets, the carbon tax jumped from S$5/tCO2e to S$25/tCO2e in 2024 and will hit S$45/tCO2e by 2026, adding an estimated S$52,000 in monthly costs for the average commercial building.
A pioneering collaboration between ACwise and Ngee Ann Polytechnic's Centre for Environmental Sustainability (CfES) is demonstrating how certified energy-saving technologies can cut costs while reducing scope 2 and 3 emissions, offering a practical path toward sustainable operations.
Through this partnership, building owners have collectively saved $1.2 million in energy costs in the last 6 months by integrating ACwise's NanoRefrigerant into HVAC systems. This innovative solution improves efficiency, reduces emissions, and extends equipment lifespan, offering a practical, cost-effective path to greener buildings
Real-world results highlight the impact of this collaboration.
- Seo Eng Joo Food Hub, which manages several large cold storage facilities across Southeast Asia, was able to reduce its HVAC-R energy consumption by 19%.
- Song Fish, a leading frozen seafood and poultry supplier, achieved a 12.3% reduction in HVAC energy consumption through a recent trial.
At the core of this success is a unique academic-industry collaboration.
By combining CfES's rigorous research with ACwise's industry expertise, the initiative accelerates the adoption of proven, high-performance solutions. The Singapore Green Building Council (SGBC) certification further reinforces the credibility of these technologies, ensuring they meet stringent sustainability standards.
"Our collaboration goes beyond technology," explains Tommy Chan, Founder and CEO of ACwise. "We're creating a replicable framework that demonstrates how academic insights can drive meaningful industry transformation. Each percentage point of energy saved represents not just financial benefit, but a step towards Singapore's net zero target by 2050."
"CfES is committed to bridging innovative research with real-world applications, and our collaboration with ACwise exemplifies this approach", says Jason Tang, Chief Sustainability Officer, Ngee Ann Polytechnic and Director, CfES. "By rigorously assessing the performance of NanoRefrigerant in a VRF air-conditioning system, the results have demonstrated measurable efficiency gains, reinforcing the importance of evidence-based solutions in advancing sustainability within the built environment."
The centre has played a key role in translating and developing technologies and solutions into practical innovations for the industry. Currently, CfES has successfully completed over 500 consultancy and R&D projects, filed more than 30 patents and know-hows, and licensed 1 in 3 of their intellectual properties.
The initiative's impact extends beyond immediate savings.
Building owners are not just cutting costs; they are channelling savings into sustainability upgrades like solar panels and smart energy systems. These investments go beyond individual buildings, strengthening Singapore's green ecosystem and driving continuous improvements in energy efficiency.
As the nation accelerates its Green Plan 2030 efforts, this partnership serves as a blueprint for integrating certified solutions into existing infrastructure. With clear financial and environmental gains, building owners have a unique opportunity to lead Singapore's transition toward a more sustainable, energy-efficient future.
Join us on May 23rd to explore how collaborative innovation is transforming Singapore's green building ecosystem and shaping the future of sustainable urban development.
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Daily Bulletin
