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Ivanhoé Cambridge, the real estate arm of the Caisse de dépôt et placement du Québec, is announcing the results of a pilot project incorporating a new energy-saving technology at two malls within its portfolio.

Developed by Turntide Technologies, a company in which the Caisse invests, the proprietary technology reduces the energy use of older electrical motors, including those used in elevators, water pumps and air conditioning systems. As part of the project, three units were installed on the roof of CrossIron Mills Mall in Calgary and Vaughan Mills Mall in Vaughan, Ont. According to the Caisse, the system reduced the heating, ventilation and air conditioning systems’ energy consumption by 35 per cent.

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In a press release, Rob Simpson, senior director of sustainability at Ivanhoé Cambridge, said the electricity savings would be enough to charge five million smartphones. To produce the amount of electricity saved, Ivanhoé Cambridge estimated about 39,000 kilograms of fossil fuels would need to been released into the atmosphere.

“Projects and programs like this are essential because they can be implemented quickly and easily. They’re cost-effective and scalable and we’re already seeing opportunities to extend this technology to other retail locations and properties across other asset classes,” he added.

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