Impact Investment Group
Since completing the renovations, Impact has successfully tenanted the building to co-working franchise WeWork on a 15-year contract.
Sector: Food and Beverage
Address: 1 Theobald St, Thornbury VIC 3071
Environmental upgrade: 73.6kW PV solar system and Cool Roof
Key drivers: Reduce energy costs and increase renewable energy sources
How can a beer brewer remain competitive as energy costs continue to rise?
3 Ravens independent brewery in Thornbury wanted to find ways of reducing their energy costs through solar and building upgrades.
“With our manufacturing processes being heavily reliant on electricity inputs, sharp increases in electricity costs in recent years have made it very difficult to effectively manage our costs of production,” said General Manager Nathan Liascos. “In a competitive industry such as brewing, we have had to absorb energy increases to remain competitive, which isn’t sustainable for our business.”
They also wanted to make their operation greener and use more sustainable forms of energy in line with the business’ values and goals.
The solar system and cool roof provided an environmental benefit, which meant that capital could be accessed via an EUA (Environmental Upgrade Agreement). Installation of a solar system and cool roof would cut their power bills, and using an EUA would allow them to undertake their upgrades without any upfront, out-of-pocket expense.
3 Ravens worked with Regenerate Engineering to design the 73.6kW PV solar system and cool roof. The project was the first EUA in the City of Darebin, and Sustainable Australia Fund worked with the council and 3 Ravens to fund the project with a long term loan tied to the building.
The solar system and cool roof will reduce 3 Ravens’ CO2 emissions by 106 tonnes, the equivalent of emissions produced by 23 cars or 12 local houses every year.
The new 73.6kW solar system and Cool Roof is not just good for the environment – the new installations designed by Regenerate Engineering are projected to save them $21,000 per year on energy costs.
“Besides the operational cost benefits, this project will apply a very strong green stamp on our operation, a valuable asset in the coming years in one of the most brand-identity driven sectors, where environmental performance can strongly endear and engage the public in their choices,” said General Manager Nathan Liascos.
“Sustainable Australia Fund had flexible terms and competitive rates that allowed us to model it to be cashflow positive from day one.”
– Nathan Liascos, General Manager, 3 Ravens