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

About Emirates Central Cooling Systems Corporation PJSC

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On 14 October 2022, pursuant to Law No. 22 of 2022 (which repealed Decree No. 10 and any other legislation to the extent that it contradicts with its provisions) (“Law No. 22”), the Company was established in its current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

Empower's DLRC District Cooling Plant in Dubai has been awarded the Gold LEED Certification by the U.S. Green Building Council, recognizing its adherence to high sustainability standards. Empower, a leading provider of district cooling services, has previously received similar certifications for other plants. The DLRC plant, with a capacity of 47,000 refrigeration tons, serves the Dubai Land Residence Complex. The project includes four plants, with three planned for the future, aiming to serve over 250 mixed-use buildings with a total capacity of 120,000 refrigeration tons. Empower's CEO, Ahmad Bin Shafar, emphasized the company's commitment to promoting green buildings and sustainable energy delivery. The DLRC plant uses advanced technologies like Thermal Energy Storage systems and Treated Sewage Effluent water to conserve resources and reduce environmental impact.
Empower, the world's largest district cooling services provider, supplies energy-efficient cooling to 22% of Dubai's hotels and hotel apartments. At the Arabian Travel Market 2025, industry leaders praised Empower's role in promoting sustainability and reducing carbon footprints in the hospitality sector. Empower's CEO, Ahmad Bin Shafar, highlighted the company's commitment to supporting sustainable practices in line with national tourism and sustainability strategies, including the UAE Tourism Strategy 2031. Empower's services are utilized by prominent hotels in key areas of Dubai. Bin Shafar emphasized the growing recognition of sustainability's importance for long-term business growth and the associated benefits. The Arabian Travel Market 2025 also reflects this focus on sustainability with its theme, "Empowering Global Travel: Shaping the Future of Tourism through Connectivity."
Emirates Central Cooling Systems Corporation PJSC (Empower), the largest district cooling services provider globally, emphasized its commitment to employee health and safety in line with the World Day for Safety and Health at Work. In 2024, Empower recorded zero workplace injuries, showcasing the success of its health, safety, and environment (HSE) strategy. The company completed 1,799 HSE inspections and provided 1,544 safety training sessions to 7,906 participants, resulting in 6,017,626 safe working hours. Empower's CEO, Ahmad bin Shafar, reiterated the company's dedication to high health and safety standards, highlighting the importance of a strong safety culture in enhancing the work environment and operational efficiency.
Empower, the world's largest district cooling services provider, has launched a smartphone app for its customers to manage their accounts more easily. Available on both Android and Apple devices, the app can be downloaded from the Apple Store and Google Play Store. It is designed to enhance customer convenience and service experience by offering a range of features such as easy registration, account access, bill payment, and real-time service tracking. The app aims to provide a user-friendly experience for individual and corporate customers, enabling them to manage their services seamlessly. CEO Ahmad bin Shafar emphasized the importance of using technology to meet customer expectations for remote access to services.
Emirates Central Cooling Systems Corporation PJSC (Empower), the world's largest district cooling services provider, has reiterated its commitment to environmental protection by using treated water in its district cooling operations to conserve fresh water resources. This announcement coincides with World Water Day on March 22. Empower's CEO, Ahmad bin Shafar, stressed the importance of water for sustainable development and climate change adaptation. Empower has increased its Reverse Osmosis treatment capacity to improve water recycling efficiency, with 8.3% of water used in 2024 coming from recycled sources, primarily treated sewage effluent. This initiative aligns with Dubai's mandate to use alternative water sources in district cooling to protect water reserves. Empower calls for public efforts to conserve natural resources for future generations.
The Emirates Central Cooling Systems Corporation PJSC (Empower) held its Annual General Meeting (AGM) in Dubai, with a quorum of 89.9% of the company's paid-up share capital. The AGM approved a cash dividend distribution of AED 437.5 million for the second half of 2024, equivalent to 43.75% of the company's paid-up capital. The meeting, chaired by Saeed Mohammed Al Tayer, reviewed the company's performance, financial statements, and auditor's report for the year ending December 31, 2024. Empower, listed on the Dubai Financial Market since 2022, reported a record revenue of AED 3.26 billion and a net profit of AED 908 million for 2024. The company has committed to an annual payout of AED 850 million during the first two fiscal years post-listing, which was successfully distributed in two installments in 2024. Following this two-year commitment, Empower's shareholders approved annual dividend payments of AED 875 million for 2025 and 2026, to be disbursed in April and October each year.
Emirates Central Cooling Systems Corporation PJSC (Empower), the world's largest district cooling services provider, has signed an agreement to supply district cooling services to the Palm Gateway project in Palm Jumeirah, Dubai. The service will have a capacity of 9,470 refrigeration tons and is expected to start in the second quarter of 2026. Palm Gateway is a luxury residential development consisting of three interconnected towers with modern amenities. Empower's CEO, Ahmad Bin Shafar, stated that this agreement reflects the trust of real estate developers in Empower's services, which consume up to 50% less energy than conventional systems. Empower aims to support Dubai's sustainability goals by reducing carbon emissions and enhancing energy efficiency.
Emirates Central Cooling Systems Corporation (Empower), a leading district cooling services provider, has increased the employment of Emirati nationals in professional and administrative roles, achieving significant growth in Emiratisation by the end of 2024. Female employees make up 45.37% of Empower's Emirati workforce, while male employees represent 54.63%, demonstrating the company's commitment to gender balance and national talent development. CEO Ahmad bin Shafar highlighted Empower's focus on enhancing UAE human capital, increasing engagement in strategic sectors, and equipping Emiratis for future challenges. Empower's strategic plan aligns with the UAE government's vision to boost Emiratisation and recognizes the importance of integrating Emirati women into the workforce as equal partners in the nation's development.

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News Update From Emirates Central Cooling Systems Corporation PJSC

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News Update From Emirates Central Cooling Systems Corporation PJSC

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Dubai is preparing to host the International District Cooling Conference 2025 for the fourth time. His Excellency Ahmad Bin Shafar, CEO of Emirates Central Cooling Systems Corporation (Empower), met with Rob Thornton, President and CEO of the International District Energy Association (IDEA), to discuss the event's preparations. The conference will focus on themes aligned with recent developments in the district cooling industry, its challenges, and strategies to address them. It aims to reinforce its status as a leading global platform for district cooling discussions, promoting energy efficiency and environmental sustainability. Empower, with a history of successfully hosting the conference in 2014, 2016, and 2018, highlights Dubai's role as a hub in the district cooling industry. The conference, scheduled for December, will gather specialists and leaders in district cooling, energy efficiency, and renewable energy solutions from around the world.

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News Update From Emirates Central Cooling Systems Corporation PJSC

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Emirates Central Cooling Systems Corporation PJSC (Empower), the world's largest district cooling services provider, is enhancing its global presence by participating as a Diamond Sponsor at the IDEA Campus Energy 2025 International Conference in Boston, USA. The event, organized by the International District Energy Association (IDEA), will occur from February 3rd to 6th and is expected to attract over 1,000 participants worldwide. Empower's sponsorship is part of a broader commitment to support IDEA's conferences and exhibitions throughout 2025. The delegation, led by Empower CEO H.E. Ahmad Bin Shafar, will also participate in IDEA Board of Directors meetings and a technical tour of advanced energy facilities. Bin Shafar emphasized Empower's commitment to fostering collaboration and innovation in the district cooling industry to promote sustainability.

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News Update From Emirates Central Cooling Systems Corporation PJSC

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Emirates Central Cooling Systems Corporation PJSC (Empower), the world's largest district cooling services provider, has advocated for the adoption of district cooling in the healthcare sector to enhance sustainability and public health. At the Arab Health 2025 Exhibition and Conference in Dubai, Empower emphasized the importance of district cooling in creating an optimal environment for healthcare facilities. Empower's systems serve various healthcare projects, including Dubai Healthcare City, with a cooling capacity of 142,000 refrigeration tons. The company encourages healthcare leaders and international exhibitors to explore the health benefits of these sustainable solutions. Empower is committed to supporting the healthcare sector by providing environmentally friendly cooling services that contribute to climate change mitigation. CEO Ahmad bin Shafar highlighted the company's dedication to delivering world-class district cooling services to medical facilities in Dubai, ensuring patient and staff comfort while conserving energy and protecting the environment. Empower's services extend to numerous hospitals, clinics, and laboratories across Dubai.

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News Update From Emirates Central Cooling Systems Corporation PJSC

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Emirates Central Cooling Systems Corporation PJSC (Empower), the world's largest district cooling services provider, is committed to promoting awareness of district cooling as a sustainable solution to environmental challenges. This commitment includes a plan to expand the adoption of eco-friendly cooling systems through workshops and seminars worldwide in 2025. In 2024, Empower achieved significant milestones by forming partnerships, hosting technical tours, and conducting seminars to increase awareness of district cooling. Notable initiatives included meetings with consultants to discuss advanced technologies, a technical tour organized with UNEP for international delegates, and a virtual seminar with UNEP's 'Cool Coalition.' These efforts emphasized the role of district cooling in addressing climate change, reducing energy consumption, and using natural resources efficiently. Empower's CEO, H.E. Ahmad bin Shafar, highlighted the importance of community awareness in advancing sustainable cooling solutions.

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Emirates Central Cooling Systems Corporation (Empower) has signed an agreement with Wasl Group to provide district cooling services to 'The Island' project in Dubai, with a capacity of 23,853 refrigeration tons. This collaboration supports Dubai's development vision by implementing energy-efficient and sustainable solutions. 'The Island' is a luxury beachfront development featuring hotels, apartments, and villas, along with various amenities. Empower will supply cooling services using advanced systems to ensure energy efficiency and reduce carbon emissions. The project is set to begin receiving cooling services in the first quarter of 2028. Both Empower and Wasl Group emphasize their commitment to sustainability and environmental objectives through this partnership.

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News Update From Emirates Central Cooling Systems Corporation PJSC

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News Update From Emirates Central Cooling Systems Corporation PJSC

Disclosure: BOD meeting

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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, has announced its diamond sponsorship of the International District Energy Association (IDEA) conferences and exhibitions in 2025 for the second year in a row. This sponsorship is part of Empower's Sustainable Sponsorship Program and includes major events such as IDEA Campus Energy 2025. The initiative aims to enhance collaboration and expertise exchange with key stakeholders in the energy and district cooling sectors, emphasizing Empower's role in driving sustainability in the industry. Empower's CEO, H.E. Ahmad Bin Shafar, highlighted the company's commitment to innovation and resilience in energy systems, while IDEA President Rob Thornton expressed gratitude for Empower's support and strategic vision. The sponsorship allows Empower to showcase its global leadership in efficient energy and district cooling solutions and the UAE's leadership in addressing energy and climate challenges.

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News Update From Emirates Central Cooling Systems Corporation PJSC

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Emirates Central Cooling Systems Corporation PJSC (Empower) has begun operations at its new District Cooling plant in Jumeirah Beach Hills, Dubai. The plant, upon full completion, will have a total production capacity of 48,000 refrigeration tons (RT) and will serve prominent hospitality and residential projects in the Jumeirah area, including the Burj Al Arab and Jumeirah Beach Hotel. The plant adheres to international standards and sustainable building practices, integrating with the local architectural aesthetics. Empower's CEO, Ahmad Bin Shafar, highlighted the company's commitment to providing high-quality, environmentally friendly cooling services, reinforcing Jumeirah's status as a premier residential and tourist destination.

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