Business and Financial Needs

By 2006 BTU Group’s recent investment, Tabreed district cooling, already had 22 plants located throughout the UAE. The company serves commercial, government, and residential clients in developed urban areas of the country. BTU is excited to be a part of this exceptional company, and is working hard to bring further improvements to the efficiency of cooling in the area’s hot urban zones. Any sufficiently developed area with a hot environment would find one of these plants a huge benefit as it reduces noise and air pollution, and drove down the cost of cooling a facility.

The CEO of BTU Group, Wael Almazeedi said that his company has been “closely following Tabreed’s progress for over a year now” and that they “believe that it represents an exceptional long-term investment opportunity.” He went on to say that “Tabreed’s business model is robust and adheres to that of typical utility businesses in the US, Europe, and Japan.” The company is in fact known for it’s exceptional management, and it’s brand has become very highly recognized in urban areas throughout the country.

BTU Group acquired the 1.77 million share investment in Tabreed in May of 2003. Tabreed is based in Abu Dhabi. The shares were purchased in a public auction in the Dubai Financial Market. (DFM) Tabreed was started in 1998 as a publicly traded joint shareholding company sponsored by the UAE offset group called UOG. The company is so valuable due to the benefits of the district cooling method over conventional air conditioning. The company’s plants produce cold water, then pump it to the buildings of their clients through a special series of tubes. The water is then used to cool the buildings air in a manner for more cost and space efficient than typical air conditioning would be capable of.

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