Low energy efficiency and high energy peaks were some of the factors that Tomas Jonsson wanted to change when he founded Innenco six years ago. The energy systems that have been on the market have previously been inefficient in terms of costs and had a negative impact on the environment. Innenco was founded in 2015 with the vision to revolutionize the construction and energy industry and deliver an energy-efficient concept to the market that minimizes operating costs, reduces power peaks and increases indoor comfort. With the new energy system that it has developed, it is now a leader in research and development of heating, cooling and energy storage for all types of buildings
A revolutionary system that really makes a difference
The new concept consists of Active Elements and Innenco Smart Control, which together form the key products of the concept. The development of the new energy system has developed well and studies have shown that in cold climate conditions energy use has been reduced by 75% and in warm climate conditions by 40%.
Active Elements works as a variant of a floor heating system with a function for operation with very low temperatures. To optimize energy use, it works with different climate zones throughout the building, automatically balancing the temperature in all rooms by moving excess or deficit temperatures to the zones where it is needed. In order to get as optimal a result as possible, the system is optimized based on building type. Therefore, it is profitable in both industrial premises, offices and villas. Innenco smart control is the software itself which includes a computer system with the unique potential to locate small temperature differences from different zones.
The new revolutionary system has already been tested by the majority of customers and clear improvements have been seen in the energy consumption of all customers. For example, the system has been used in one of Volvo’s car garages, where energy costs were reduced by a total of 80% over the course of a year. From having an annual energy use of 59,000 kWh, this was reduced to only 11,600 kWh per year. These are just one of many occasions where customers have been helped to lower their energy costs while contributing to a better world.
The future is bright
With the majority of approved patents and a planned IPO in Q3/Q4, the starting point has now been set for powerful growth in the coming years. The total market potential amounts to at least 85 billion euros by 2023. With a strong and competitive technology, there is every possibility of success. Multiple agreements have already been signed with both national and international property developers and construction companies, and several are under negotiation. Going forward, the idea is to expand to the rest of Europe but also in the USA, the Middle East, China and India, where you will also open local offices in each location.
“The best heating, cooling and energy storage system together with the best actors in the construction industry should simply lead to the best and most environmentally friendly and economical concept” – Tomas Jonsson, CEO & Founder.
Successful Fund raising – Innenco is getting ready for listing
Inneco’s climate-smart technology minimizes energy consumption for buildings and houses. With a replenished coffers and 600 newly added investors, the company is ready for a listing in September. Focus areas are now to broaden the patent portfolio, develop new products and continue their investment in the United Arab Emirates and in Sweden.
During the spring, Innenco raised approximately SEK 15 million through a new share issue. This has resulted in a good spread of ownership, which is required for a listing. The company now plans to raise another ten million kroner before a listing takes place in September.
– Our issue we had in the spring went very well. We brought in around 600 new shareholders in just over three weeks, which we see as a positive response from the market. Now we are having discussions about a listing on the Nasdaq First North Growth Market or the Norwegian Euronext Growth Market, says Tomas Jonsson, CEO of Innenco.
The technology is climate-smart
Innenco sells products based on a smart technology that, when installed, can reduce energy consumption in a building by over 50 percent. The technology is installed in floors, walls and ceilings in entire buildings to be able to distribute heat and cooling where it is needed. The product is called Active Elements and can be used in everything from villas, condominiums and warehouses, to shopping centers and entire blocks. The technology is mainly integrated in the construction with the Smart Control tool, but can also be applied afterwards.
– Our technology can create incredible energy savings. Instead of a heat input of 50 degrees, which is currently required to maintain a temperature of 22 degrees indoors, with our system it is enough that only 25 degrees is supplied to maintain the same temperature, says Jonsson.
New international milestone
Innenco is currently participating in a climate initiative in the United Arab Emirates. They have recently been there to discuss upcoming projects with both builders and government actors. In July, an agreement is expected to be signed for a large sustainability project that is planned to start before the turn of the year, which will be an important reference.
– Preparations in the Middle East can take time, but now things are starting to happen. We will soon be setting up a subsidiary there, and we see them as one of our priority markets where we will establish ourselves. The United Arab Emirates will account for a large part of our revenue going forward, says Jonsson.
Capital provides opportunities to invest
With the capital Innenco has taken in during the year, the company will be able to continue its investment. The capital will be used, among other things, to improve a couple of the company’s existing patent portfolios, hire new people to strengthen management and start the investment in the United Arab Emirates.
– We are looking forward to being able to turn up the pace now. By strengthening our patent portfolios, it gives us extra protection for our climate-smart technology, and with additional staff we have the resources to invest in both our focus markets, the Middle East and in Sweden, says Jonsson.
Innenco will now make another issue of ten million kroner before the planned listing in September. This means that the company falls under the limit for prospectus obligation, i.e. takes in a maximum of 2.5 million euros during a twelve-month period
Fact box: How the technology works
The synchronization of Innenco’s key products results in heating a building by only 25 degrees and cooling by 20 degrees for a balanced indoor climate. This creates the opportunity for a new perspective in the energy and construction industry to utilize renewable energy sources. Renewable sources and other sustainable technologies such as solar energy, GEO energy, wind power, chillers and heat pumps etc. have a different level of efficiency (COP factor) with INNENCO’s concept.
– Tell us a little bit about Innenco – what did you see missing on the market?
Innenco has developed a patent pending solution that can reduce energy use in buildings by up to 80 percent.
INNENCO is an innovative company that combines science, innovative technical solutions and thermal energy storage to meet the demand for low energy for buildings, communities and entire cities worldwide.
Innovative energy concept cools and heats all types of buildings, communities or cities with less energy through an ecosystem of products connected to a patented distribution system, Active Elements.
– How does the system work?
Innenco stands for Innovative Energy Concept. The energy solution is based on a low-temperature system, where the in-house developed heat exchanger – active elements – and the in-house control system contribute to distributing both heat and cooling in an optimal way. There is great savings potential, not least if buildings are linked together in so-called Smart Cities concepts. Indoor cooling, with traditional air conditioning, is a bigger energy guzzler than heating, making Innenco’s market global.
The approach is to integrate INNENCO’s patented distribution system “Active Elements” into the building construction. In this way, utilize the building’s thermal mass and internal loads up to 70-90%, the so-called degree of utilization.
The degree of utilization of “Active Elements” then reduces the total heating by approx. 60%. At the same time, the system is connected to heat pumps (model according to our recommendations), which achieves an improved efficiency with the help of “Active Elements” low supply temperature.
This means that all of our references have reached the levels for “Green Building” and LEED-Platinum.
– In what way is your system sustainable?
It is a sustainable system that is easy to implement, fully compliant with ISO standards, EU directives, green buildings, smart city standards with great results in both hot and cold climates
– What other advantages are there with the system?
Innenco is focused on saving energy, electricity and water in all types of properties. We work both towards new production and existing properties.
The INNENCO concept means delivering cost-effective energy solutions to commercial and private properties with Net Zero Vision.
– How do you cooperate with the customer?
We are specifically focused on saving energy, electricity and water. We would like to find a collaboration where we become a strategic energy partner for planning and energy efficiency in all types of property projects.
-What can a customer expect from you?
We make sure that each project is energy efficient with our customers and that the starting point is that each project should involve financial as well as energy savings.
– Why should you be chosen?
It is a sustainable system that is easy to implement, fully compliant with ISO standards, EU directives, green buildings, smart city standards with great results in both hot and cold climates.
“Our buildings are a huge untapped resource for energy storage. With smarter technology, we can make better use of that resource and radically reduce our energy use. It is possible to get close to zero – in our reference projects, we have been able to reduce the energy use of existing buildings by up to 80 percent”
– Anything else that is important to mention?
A traditional system would involve a payback period of more than 20 years to correspond to the same results that INNENCO presents above.
Essential main parameters of the projects we construct can be categorized as below.
– Cost-effective with low payback times.
– Environmentally neutral and significant reduction of CO2 emissions.
– Available technology and recognized technology, as well as socially adapted.
The smart buildings of the future are here – the technology company is conducting an issue
Homes, buildings and entire neighborhoods where energy consumption is both halved and made more efficient.
Innenco’s technology is smart and highly sought after with over 100 signed letters of intent for upcoming projects. Right now, Innenco, where the Taube family and af Jochnick are co-owners, is conducting a pre-IPO ahead of an upcoming listing
In just three years, Tomas Jonsson, CEO and founder of Innenco, has built up an international business. The company has ongoing projects in several parts of the world and the possibilities are enormous for the technically climate-smart solutions that the company sells.
– With our cutting-edge technology in the construction industry, we can minimize energy consumption in all types of buildings, and for the world’s leading brands, says Jonsson.
Climate-smart technology
By installing Innenco’s smart technology in a building, energy consumption can be reduced by over 50 percent. The technology is installed in floors, walls and ceilings in entire buildings to be able to distribute heat and cooling where it is needed. The product is called Active Elements and can be used in everything from villas, condominiums and warehouses, to shopping centers and entire blocks. The technology is mainly integrated in the construction with the Smart Control tool, but can also be applied afterwards.
– Our technology can create incredible energy savings. Instead of a heat input of 50 degrees, which is currently required to maintain a temperature of 22 degrees indoors, it is enough with our system that only 25 degrees is supplied to maintain the same temperature, Jonsson is told.
The reason for the large energy savings is largely due to the smart distribution. The technology moves heat or cooling from one part of the building to another, and can also turn off heat in individual parts or rooms.
– On a hot summer day, for example, cooling can be moved from the basement to another floor to cool down, or heat generated in a computer room can be used to heat another part of the building. This is extremely useful in many situations, says Jonsson.
Saves on water
In warm countries, for example in the Middle East, there are additional advantages for Innenco’s climate-smart solutions. There, it is also possible to save on water through Active Elements. This as less water is needed to cool down the temperature in buildings, which becomes extra critical when water is in short supply. Innenco is one of several parties assisting in the Middle East with the Smart City concept, where energy consumption is to be maximized on a larger scale.
– Smart City is a large collaboration with many parties that will take time. Our technology is highly sought after in the Middle East where there is an especially great need for energy control and water conservation, says Jonsson.
International collaborations and agreements
Innenco is currently busy with several pilot projects and has 122 letters of intent. The company collaborates with Eon and Sweco, among others, but another major collaboration is expected to be announced this year. The projects Innenco is involved in are both in Sweden and Europe, but also in India, China, Dubai and Qatar.
– Our focus right now is on the agreements we have that provide the most cash flow. These are mainly data centers and logistics centers. We have several such projects, but at least one to be planned this year. In addition, we have residential buildings with two thousand apartments that we will work on during the year, says Jonsson.
The future seems bright
Innenco now plans to collect up to SEK 15 million before its listing. The issue should lead to ownership diversification and capital that is sufficient for listing in both North America and Scandinavia. The issue proceeds will form the basis for starting several of the projects that the company has in the pipeline.
– We are in the starting pits to begin our expansion. Our technology is in demand and with more collaborations and a good fund, we can start licensing out projects that will bring in a good cash flow already this year, concludes Jonsson.
Fact box: How the technology works
The synchronization of Innenco’s key products results in heating a building by only 25 degrees and cooling by 20 degrees for a balanced indoor climate. This creates the opportunity for a new perspective in the energy and construction industry to utilize renewable energy sources. Renewable sources and other sustainable technologies such as solar energy, GEO energy, wind power, chillers and heat pumps etc. have a different level of efficiency (COP factor) with INNENCO’s concept.
Innenco challenges the underfloor heating industry with an integrated pipe system
Innenco was started in 2015 based on the vision to create a product that manages the distribution of heat and cold as well as digitization tools for measuring this. Innenco develops, manufactures and delivers energy-efficient concepts to the market that minimize operating costs, reduce power peaks and increase indoor comfort. The technology that forms the basis of Inneco’s solutions has its basis in research at Lund University of Technology.
The company’s concept consists of two key products: Active Elements and Innenco Smart Control. Both Active Elements and the property are connected to Innenco Smart Control, which collects data and is compatible with artificial intelligent system operation. The result is a solution that increases energy efficiency, improves indoor comfort and cuts energy peaks in each individual property. Innenco Smart Control generates both statistics on the property’s energy use and provides the opportunity for customer measurements and evaluations of energy use. Analyzes have shown that the company’s integrated piping system can generate energy savings in properties that correspond to more than 75% of energy use in cold climate conditions and 40% in warm climate conditions.
Innenco has received international recognition for its innovative approach from Sweden’s Energy Agency, IVL Miljöinstitut, Smart City Sweden and North American real-estate developers.
Redistributes temperature differences and creates balanced zones
Innenco operates in a fast-growing market, the company’s main target group is property developers, construction companies, municipalities and property owners. The company has carried out a new issue in the spring and intends to list the company on Nasdaq First North in September 2021.
–Active Elements work with different climate zones in the building to heat or cool the rooms. The system automatically balances the temperature in all rooms and transfers excess or deficit temperatures to the zones where it is needed. The system creates balanced temperature zones by redistributing any temperature differences where needed or storing them for later use, says Tomas Jonsson, CEO of Innenco.
Innenco has received international recognition for its innovative approach from Sweden’s Energy Agency, IVL Miljöinstitut, Smart City Sweden and North American real-estate developers.
Active elements have been developed to work in many different types of properties, from industrial premises to offices and villas. Among other things, the system has been tested in one of Volvo’s car showrooms, where energy costs were reduced by a total of 80 percent over the course of a year.
Middle East priority market
We started our commercialization phase in the spring of 2022 and have met a lot of interest in our technology. The ambition is to start cooperation with large property developers, in Sweden and abroad. Right now, we are largely focusing on the Middle East, which is a priority market for us. We have signed cooperation agreements with real estate developers, architects and technical consultants in Dubai, where we will also establish an office in autumn 2022. In the next step, we are investing in establishing ourselves in India and on the African market, says Tomas Jonsson.
Energy saving with a patented method – now Innenco is moving towards a stock market listing
With its patented technology for energy and electricity savings in properties, Innenco has taken a big step on the way to a more economically and environmentally sustainable world. Now they are moving towards a long-awaited IPO.
– The listing enables the commercialization of the company’s products and that we will be able to continue developing our patent portfolio, says Tomas Jonsson, founder of Innenco.
We are moving towards a future where sustainability is of the highest priority, and with that comes efforts and innovations that should reduce both energy consumption and carbon dioxide emissions. Innenco has developed Active Elements – a patented system that cools and heats buildings, communities and cities with minimal energy consumption.
Our technology means that we can save and store energy in properties with up to 60-70% less energy consumption than in traditional buildings. Because the system is scalable, even greater energy savings can be achieved in the long term, says Tomas Jonsson.
IPO and collaboration with Business Sweden.
At the moment, the company is getting ready for the impending IPO, and the commercialization that follows. In addition to Sweden and the rest of Europe, Innenco has a far-reaching establishment in markets such as Qatar and Dubai, where Business Sweden acts as the company’s extended arm.
Business Sweden is a strategic coordinator and collaboration partner that helps to probe the market to find partners who can ensure that the arrangements really get started, says Tomas Jonsson.
The work is currently underway with continued work to develop the patent portfolio and eventually develop and sell products adapted to the patented technology.
Three critical questions before the IPO
How do you feel about entering the stock market now despite the current host situation:
– We do not see that Innenco will be negatively affected or exposed by the changes taking place in the market today – on the contrary. Our technology reduces electricity consumption, which in turn reduces the cost of housing and real estate – costs that we see disappearing right now.
What will the IPO mean for you as a company?
– The IPO enables and accelerates our commercialization of the company’s products, builds on the cash in the company and ensures that we can execute the many orders we have down in the Middle East. But above all, it means that we will be able to continue to develop our patent portfolio and renew patent families.
Why should people buy shares in Innenco?
We work in a market with renewable energy which, regardless of external factors, will be attractive to investors. Innenco fulfills Europe’s energy requirements for properties and buildings – we tick all the boxes.
For investors who wants to be apart of the Innenco IPO please send us an mail to info@innenco.ae
