Mr Tham’s journey with the SIP began with learning more about best practices in the sustainability realm, followed by an analysis of his specific requirements for Trust Cleanz.
Once that was done, The FinLab helped to identify and connect Mr Tham with greentech solution partners that best suit his needs.
The greentech solution partners were chosen based on their track record, clientele, and product-market fit to ensure they are SME-ready, says UOB The FinLab’s Mr Lung.
While Mr Tham is still in discussion with several greentech partners, solutions that he is interested in include electric vehicles (EVs) and green energy.
As a cleaning service provider, Trust Cleanz’s employees frequently travel between locations to provide cleaning services. EVs could help its employees travel in a greener way.
Since EVs run on electricity, they produce no tailpipe emissions, unlike their gasoline-powered counterparts. A 2020 study by US-based non-profit organisation Consumer Reports also found that EV owners in the US spend 60 per cent less to power their vehicles, compared to traditional car owners.
While EVs do have a higher upfront cost, a combination of governmental rebates – such as the Electric Vehicle Early Adoption Incentive scheme launched in 2021 – and flexible financing can help SMEs get started.
One example is UOB’s U-Drive, which provides SMEs with a comprehensive suite of solutions, including flexible financing for their electric vehicles, low upfront investment for charging equipment and an expedited approval process.
Another greentech solution showcased in the programme is SP Group’s Green Energy Tech (GET), which is a suite of solutions to help SMEs improve energy efficiency, indoor occupant comfort and sustainability efforts.
It includes GET Insights, a solution that provides an integrated view of all utility consumption of a business, by using existing data sources as well as installing extra sensors to better understand the utility usage.
It can also be used to maximise the use of renewable energy, mitigate the issue of grid constraints, and bring down the total cost of energy.
By integrating greentech solutions into Trust Cleanz’s business, Mr Tham hopes that Trust Cleanz can help clients reduce energy costs by up to 10 per cent.
He is excited about realising the full potential of sustainability. “With guidance from the SIP by The FinLab, we feel better equipped to embrace our sustainability journey while planning for long-term growth.”