LUXEMBOURG, 22 July 2025: Actis, a leading growth markets investor in sustainable infrastructure, has acquired a 100% stake in Barghest Building Performance (bbp), a leading Energy-Savings-as-a-Service (ESaaS) provider for heating, ventilation and air conditioning (HVAC) systems in Asia.
bbp provides innovative energy efficiency solutions which aim to unlock up to 40% energy savings through a combination of patented software, proprietary know-how, sensors and controllers. bbp’s platform is complemented by machine learning and AI, modelled using real data from more than 400,000 Refrigeration Tons (RT) of cooling systems optimised by bbp across 9 markets in Asia.
In addition to optimising existing cooling systems, bbp also selectively upgrades customer equipment using its proprietary know-how, achieving higher potential savings for customers at a lower capital expense. bbp typically funds the deployment of its optimisation solutions and clients’ HVAC equipment upgrade, enabling asset owners and operators to focus on their core competencies while enjoying savings and carbon emission reductions. The investment by Actis aims to enable bbp to undertake larger projects to further accelerate its growth.
The business serves operations like semiconductor and pharmaceutical manufacturing, data centres, district cooling plants, hospitals, and commercial buildings. Among its customer base are three of the world’s top 10 semiconductor manufacturers, Fortune 500 companies and some of Asia’s top 20 commercial real estate firms. Through bbp’s services, customers have avoided 312,000,000kg CO2e and saved approximately US$92 million.
Boon Chye Hoe, bbp’s Chief Executive Officer, will continue in his role to lead the organisation’s 120-person strong team and scale the platform for future growth.
Actis’ investment aims to capitalise on the macro-tailwinds in Southeast Asia’s energy efficiency sector, with businesses seeking to increase their energy efficiency to reduce costs and carbon emissions as well as meet regulatory requirements. Singapore’s National Environment Agency has set Minimum Energy Efficiency Standards (MEES) for chilled water systems in industrial facilities, with energy-intensive facilities such as those used in semiconductor manufacturing needing to meet MEES by December 2025. Other industrial facilities, such as those used in the pharmaceuticals sector, have until December 2029 to meet the new standards.