Emirates Central Cooling Systems Corporation PJSC

Logotype for Emirates Central Cooling Systems Corporation PJSC
Ticker/ISIN
EMPOWER
AEE01134E227
Market/Country
Dubai Financial Market
United Arab Emirates
Latest Stock Price
1.68 AED
2024-10-04

Year to date

0.01 %

3 months

0.09 %

6 months

0.03 %

1 year

-0.11 %

3 years

0.00 %

5 years

0.00 %

Empower was established on 23 November 2003 as a corporate entity pursuant to Dubai Law No. (10) of 2003 (“Law No. 10”) and amended by Dubai Law No. (3) of 2010 (“Law No. 3”) and commenced commercial operations on 15 February 2004.

On 14 October 2022, pursuant to Law No. 22 of 2022 (which repealed Decree No. 10 and any other legislation to the extent that it contradicts with its provisions) (“Law No. 22”), the Company was established in its current form, as a public joint stock company to succeed Emirates Central Cooling Systems Corporation. 

Company's Activities are detailed in AOA and Listing Prospectus.

Latest Pressrelease Summaries

Emirates Central Cooling Systems Corporation (Empower), the largest provider of district cooling services globally, highlighted its capability to assist countries in achieving sustainable living standards that exceed global benchmarks through eco-friendly district cooling solutions. This was discussed during a panel at the World Green Economy Summit in Dubai, where Empower's CEO, H.E. Ahmad bin Shafar, emphasized the urgent need for action against climate change through effective policies and plans. Bin Shafar noted that district cooling not only contributes to sustainability but also offers economic and social benefits, promoting energy-saving systems. Empower is recognized for addressing environmental issues and supporting initiatives aligned with international efforts to combat climate change.
Emirates Central Cooling Systems Corporation (Empower) announced its readiness for significant participation in the Water, Energy, Technology, and Environment Exhibition (WETEX) 2024 in Dubai. Empower, the world's largest district cooling services provider, will showcase its latest technologies and highlight its global leadership in district cooling development. The company plans to present its major projects, which have won international awards, and provide comprehensive explanations of their sustainable practices aimed at reducing carbon footprints and protecting the environment. Empower's CEO, Ahmad Bin Shafar, emphasized the company's commitment to offering an exceptional experience at the exhibition, stressing the importance of the event for integration across the energy sector and fostering collaboration between commercial and technical sectors. He also noted the growing demand for district cooling systems driven by the need for sustainable and cost-effective solutions.
Emirates Central Cooling Systems Corporation PJSC (Empower), the world's largest district cooling services provider, successfully concluded the summer season of 2024 without any service interruptions. Despite high temperatures, Empower maintained high operational efficiency and reliability. The company implemented a proactive action plan, including extensive maintenance and infrastructure upgrades, to ensure uninterrupted service. Empower's CEO, HE Ahmad Bin Shafar, highlighted the company's commitment to reliability and sustainability. Empower also ran a summer campaign, 'Set and Save at 24°C,' to help customers optimize energy consumption. The company continues to focus on providing high-quality district cooling solutions and enhancing customer trust.
Emirates Central Cooling Systems Corporation PJSC (Empower) has successfully concluded its summer campaign, "Set and Save at 24°C," aimed at optimizing district cooling consumption and reducing customer bills. The campaign encouraged customers to set their air conditioning to 24°C to conserve energy and lower costs. Empower's CEO, HE Ahmad Bin Shafar, expressed gratitude to customers for their cooperation, emphasizing the importance of reducing energy consumption for environmental sustainability and aligning with Dubai's "Green Economy for Sustainable Development" initiative. The campaign, now in its ninth year, provided over 138,000 customers with tips to reduce energy waste and lower utility bills, contributing to a greener economy and supporting Dubai's goal of becoming the world's lowest carbon city by 2050.
Emirates Central Cooling Systems Corporation PJSC (Empower) reported a 41% increase in new customer registrations via electronic platforms over the past five years and issued nearly 20,000 No Objection Certificates (NOCs) in the first half of this year. Additionally, there was an 11% rise in bill payments through electronic channels in the same period. Empower noted a 21% increase in the issuance of NOCs, which enhance business efficiency and productivity. CEO HE Ahmad Bin Shafar highlighted that these achievements reflect the company's commitment to sustainable growth and alignment with Dubai's technological advancements and national strategies. Empower's customer base grew to over 138,000 in the first half of the year.
Emirates Central Cooling Systems Corporation PJSC (Empower) has awarded a contract to design its second district cooling plant in Jumeirah Village, Dubai. Construction is set to begin in the first quarter of 2025. This project is part of Empower's larger initiative to establish six next-generation plants in Jumeirah Village, covering Jumeirah Village Circle (560 hectares) and Jumeirah Village Triangle (242 hectares), with a total cooling capacity of 256,000 tons. The new plant will have a production capacity of approximately 37,000 refrigeration tons (RT) and will use advanced cooling technologies to optimize energy efficiency and reduce water consumption. It will serve a variety of properties, including residential buildings, commercial complexes, and hotels. Jumeirah Village is a popular area in New Dubai, known for its green spaces and amenities. Empower's CEO, Ahmad Bin Shafar, stated that the new plant aligns with the company's strategic plans to meet the growing demand for sustainable district cooling services. The design aims to adhere to high global standards and integrate seamlessly with Dubai's urban identity, supporting the UAE's green economy initiatives and the 'Smart Dubai' initiative. Empower continues to expand its services across Dubai to cater to various major projects.
Empower, the world's largest district cooling services provider, celebrates Emirati Women's Day under the theme 'We Collaborate for Tomorrow,' aligning with the UAE President's 'Year of Sustainability' initiative for 2024. CEO Ahmad Bin Shafar emphasized the crucial role of Emirati women in sustainable development and climate change efforts, noting their leadership in sustainability initiatives within the organization. Emirati women hold senior positions and make up over 62% of the female workforce at Empower. Bin Shafar praised their significant contributions to the nation's development and highlighted the UAE's commitment to gender equality and women's empowerment. He acknowledged the leadership's support in providing opportunities and fostering gender balance in the workplace.
Emirates Central Cooling Systems Corporation PJSC (Empower), the world's largest district cooling services provider, reported a 20% increase in district cooling consumption and a 44% rise in contracts in the first half of 2024 compared to the same period in 2023. This growth is attributed to high occupancy rates in existing real estate projects in Dubai and a significant increase in new large real estate projects. Empower's connected capacity reached 1.53 million refrigeration tons (RT), and contracted capacity grew to over 1.72 million RT. The company now holds over 80% of the Dubai district cooling market as of the end of 2023. Empower attributes this growth to customer confidence and the environmental benefits of district cooling.

Threads

Page 1
Dubai Financial Market News

Dubai Financial Market News

News Update From Emirates Central Cooling Systems Corporation PJSC

Disclosure: Press release

Emirates Central Cooling Systems Corporation (Empower), the largest provider of district cooling services globally, highlighted its capability to assist countries in achieving sustainable living standards that exceed global benchmarks through eco-friendly district cooling solutions. This was discussed during a panel at the World Green Economy Summit in Dubai, where Empower's CEO, H.E. Ahmad bin Shafar, emphasized the urgent need for action against climate change through effective policies and plans. Bin Shafar noted that district cooling not only contributes to sustainability but also offers economic and social benefits, promoting energy-saving systems. Empower is recognized for addressing environmental issues and supporting initiatives aligned with international efforts to combat climate change.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Emirates Central Cooling Systems Corporation PJSC

Disclosure: Results of Board Decisions by Passing

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Emirates Central Cooling Systems Corporation PJSC

Disclosure: Board Decisions by Passing

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Emirates Central Cooling Systems Corporation PJSC

Disclosure: Press release

Emirates Central Cooling Systems Corporation (Empower) announced its readiness for significant participation in the Water, Energy, Technology, and Environment Exhibition (WETEX) 2024 in Dubai. Empower, the world's largest district cooling services provider, will showcase its latest technologies and highlight its global leadership in district cooling development. The company plans to present its major projects, which have won international awards, and provide comprehensive explanations of their sustainable practices aimed at reducing carbon footprints and protecting the environment. Empower's CEO, Ahmad Bin Shafar, emphasized the company's commitment to offering an exceptional experience at the exhibition, stressing the importance of the event for integration across the energy sector and fostering collaboration between commercial and technical sectors. He also noted the growing demand for district cooling systems driven by the need for sustainable and cost-effective solutions.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Emirates Central Cooling Systems Corporation PJSC

Disclosure: Results of Board Decisions by Passing

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Emirates Central Cooling Systems Corporation PJSC

Disclosure: Board Decisions by Passing

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Emirates Central Cooling Systems Corporation PJSC

Disclosure: Press release

Emirates Central Cooling Systems Corporation PJSC (Empower), the world's largest district cooling services provider, successfully concluded the summer season of 2024 without any service interruptions. Despite high temperatures, Empower maintained high operational efficiency and reliability. The company implemented a proactive action plan, including extensive maintenance and infrastructure upgrades, to ensure uninterrupted service. Empower's CEO, HE Ahmad Bin Shafar, highlighted the company's commitment to reliability and sustainability. Empower also ran a summer campaign, 'Set and Save at 24°C,' to help customers optimize energy consumption. The company continues to focus on providing high-quality district cooling solutions and enhancing customer trust.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Emirates Central Cooling Systems Corporation PJSC

Disclosure: Press release

Emirates Central Cooling Systems Corporation PJSC (Empower) has successfully concluded its summer campaign, "Set and Save at 24°C," aimed at optimizing district cooling consumption and reducing customer bills. The campaign encouraged customers to set their air conditioning to 24°C to conserve energy and lower costs. Empower's CEO, HE Ahmad Bin Shafar, expressed gratitude to customers for their cooperation, emphasizing the importance of reducing energy consumption for environmental sustainability and aligning with Dubai's "Green Economy for Sustainable Development" initiative. The campaign, now in its ninth year, provided over 138,000 customers with tips to reduce energy waste and lower utility bills, contributing to a greener economy and supporting Dubai's goal of becoming the world's lowest carbon city by 2050.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Emirates Central Cooling Systems Corporation PJSC

Disclosure: Press release

Emirates Central Cooling Systems Corporation PJSC (Empower) reported a 41% increase in new customer registrations via electronic platforms over the past five years and issued nearly 20,000 No Objection Certificates (NOCs) in the first half of this year. Additionally, there was an 11% rise in bill payments through electronic channels in the same period. Empower noted a 21% increase in the issuance of NOCs, which enhance business efficiency and productivity. CEO HE Ahmad Bin Shafar highlighted that these achievements reflect the company's commitment to sustainable growth and alignment with Dubai's technological advancements and national strategies. Empower's customer base grew to over 138,000 in the first half of the year.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From Emirates Central Cooling Systems Corporation PJSC

Disclosure: Press release

Emirates Central Cooling Systems Corporation PJSC (Empower) has awarded a contract to design its second district cooling plant in Jumeirah Village, Dubai. Construction is set to begin in the first quarter of 2025. This project is part of Empower's larger initiative to establish six next-generation plants in Jumeirah Village, covering Jumeirah Village Circle (560 hectares) and Jumeirah Village Triangle (242 hectares), with a total cooling capacity of 256,000 tons. The new plant will have a production capacity of approximately 37,000 refrigeration tons (RT) and will use advanced cooling technologies to optimize energy efficiency and reduce water consumption. It will serve a variety of properties, including residential buildings, commercial complexes, and hotels. Jumeirah Village is a popular area in New Dubai, known for its green spaces and amenities. Empower's CEO, Ahmad Bin Shafar, stated that the new plant aligns with the company's strategic plans to meet the growing demand for sustainable district cooling services. The design aims to adhere to high global standards and integrate seamlessly with Dubai's urban identity, supporting the UAE's green economy initiatives and the 'Smart Dubai' initiative. Empower continues to expand its services across Dubai to cater to various major projects.

1. Attached Document

Page 1