Emirates Central Cooling Systems Corporation PJSC

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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Emirates Central Cooling Systems Corporation PJSC (Empower), the largest provider of district cooling services globally, has entered into an agreement with the Dubai Multi Commodities Centre (DMCC) to supply environmentally friendly district cooling services to the next phase of Uptown Dubai. This phase will have a capacity of 24,675 refrigeration tons. The signing took place at DMCC's headquarters, with key figures from both organizations present. Uptown Dubai is a smart district featuring mixed-use towers and various amenities, strategically located in the southern part of Dubai. Empower's JLT District Cooling project, which includes multiple plants and a comprehensive pipeline network, is designed to support new projects, enhancing investor confidence in their sustainable services. Empower's CEO, Ahmad Bin Shafar, highlighted the importance of the partnership in contributing to sustainability goals and reducing carbon emissions.

Empower Insulated Pipe Systems (ELIPS), a subsidiary of Emirates Central Cooling Systems Corporation, has expanded its market presence in the Gulf and Middle East, now operating in Saudi Arabia, Bahrain, Oman, Qatar, Kuwait, and Egypt, alongside its existing UAE operations. Over the past 16 years, ELIPS has produced over 880 kilometers of insulated pipe systems, with a 40% production increase in the last five years, serving more than 300 clients and completing over 240 projects. Chairman Ahmad bin Shafar noted the company's strategic expansion into global markets, emphasizing its use of competitive, advanced technologies to meet diverse market needs. ELIPS aims to become the leading supplier for district cooling and oil and gas sectors, focusing on sustainability and manufacturing without carbon-emitting materials. Its Dubai-based factory is the largest in the UAE, featuring advanced robotics technology.

Emirates Central Cooling Systems Corporation PJSC (Empower) reported record financial and operational results for 2024, with AED 3.3 billion in revenue, a 7.4% year-over-year growth, and a net profit of AED 908 million. The company achieved AED 1.56 billion in EBITDA, a 6.2% increase. Empower's portfolio included 1,637 buildings and a district cooling distribution network of over 418 kilometers, with a total contracted capacity of 1.78 million RT. In 2024, Empower signed 111 agreements for district cooling services, issued 42,735 NOCs (a 22% increase), and saw a 10% rise in district cooling service consumption. Online customer transactions grew by 11%, and electronic registrations increased by 10% to 888,860. CEO Ahmad Bin Shafar attributed the success to strategic goals aligned with Dubai's economic growth and advancements in technology and customer satisfaction.

The document is the Directors’ report and consolidated financial statements for Emirates Central Cooling Systems Corporation P.J.S.C for the year ending 31 December 2024. It provides an overview of the company's financial performance and activities during the year. The report includes detailed financial statements, outlining the company's assets, liabilities, revenues, and expenses. It also covers significant events and developments that occurred during the year, as well as the company’s future outlook and strategic direction.