The rising cost of power has become a significant concern for businesses in the Philippines. In the past 18 months, there has been an increase of about 60-80% in energy costs for the industrial high-consuming power sector– casting a shadow over the future of industries in the country.
The relatively higher energy cost deters investments in the Philippines as it raises the investment cost of doing business in the country. However, a glimmer of hope is emerging through innovative technology bought by SolX, the Philippines’ leading end-to-end digital energy solutions company.
With a promise to transform the energy landscape by improving the fit between energy supply and demand, SolX has taken its innovative energy-saving technology to the doorsteps of renowned Philippine industry leaders in telco, paint, food, and manufacturing.
Providing a lifeline for PH businesses through technology
The Philippines has a 2020-2040 energy plan that according to the Department of Energy, “advocates for the development and use of existing and emerging technologies in the most efficient and sustainable manner.”
This has been the guiding principle of SolX as it introduces its technology to the market. The tech startup is on a mission to help Philippine businesses by harnessing the power of digital technology.
“Energy is the lifeblood of industries and it stands as one of the cornerstones of any nation’s economy. Solving the energy puzzle has become imperative for us as we support the country’s goal of becoming energy self-sufficient in 2030,” said Matt Tan, COO of SolX.
The key to SolX’s success lies in its ability to accurately and precisely determine energy demand through its cutting-edge technology. By analyzing data and real-time information accessible via its platform, SolX can help businesses proactively adjust their consumption strategies to reduce costs and minimize waste. Whether it’s a manufacturing plant, a data center, or a commercial building, the solutions can be tailored to suit the specific needs of the facility. This flexibility ensures that high-powered industries can benefit from the cost-saving potential of SolX.
Moreover, its impact extends beyond cost savings. By reducing energy waste and aligning supply and demand, SolX’s technology also contributes to a more sustainable and environmentally friendly energy ecosystem. This aspect aligns perfectly with the country’s efforts to become energy efficient while combating the negative effects of climate change and reducing carbon emissions.
Becoming a beacon of hope for a volatile sector
While the energy sector remains complex, regulatory efforts are underway to foster and oversee competition. These initiatives are rooted in the belief that the private sector possesses the financial capability and expertise required to bolster the nation’s energy sector over the long haul. With this, the private sector finds itself in a challenging position to swiftly address challenges and adopt a more assertive stance in response to the ongoing energy transition propelled by global socio-political and economic volatility.
SolX believes that there is hope in tackling the intricacies of volatile industries by introducing big data and machine learning technologies. Its solutions have emerged as an indispensable lifeline for local industries, garnering the support of New Energy Nexus and backed by Foxmont Capital and Japanese institutional investor, Leave a Nest Capital.
But more than being a company that provides cost-reducing and energy-efficient solutions, SolX underscores its goal in the country– to become a beacon of hope for the nation’s energy landscape. “Our principles stand as a testament to our commitment to forging a brighter, more prosperous future for our country. We are not merely shaping the energy industry; we are shaping the destiny of our nation.”