SUNNYVALE, Calif., April 18, 2023 (GLOBE NEWSWIRE) -- The Macerich Company (NYSE: MAC), one of the nation’s leading owners, operators and developers of one-of-a-kind retail and mixed-use properties in top markets, is working with Motus Power and Turntide Technologies (Turntide) to help decarbonize and reduce energy consumption at 23 mall locations across the country.
Motus Power, a leading installer of energy-saving solutions specializing in HVAC efficiency projects, introduced Turntide’s Smart Motor System as an HVAC retrofit solution to reduce energy consumption and carbon emissions. A pilot program at Macerich’s Los Cerritos Center demonstrated impressive results, with 56% energy savings over the existing AC induction motors in its rooftop HVAC units.
“Macerich has a goal to achieve carbon neutrality by 2030. By working with Motus Power and Turntide, we’re able to accelerate our energy reduction program without impacting our daily operations or shopper experiences,” said Ryan Knudson, vice president of corporate responsibility & sustainability, Macerich. “Like upgrading to LED lighting, retrofitting our HVAC systems with high-efficiency motors offers the benefits of reducing both operating costs and greenhouse gas emissions.”
Turntide’s motors are currently in 18 shopping center locations across the U.S. and will scale to more than 20 throughout the year. Across all sites, the projected energy savings will be more than 1.5 million kWh, equating to a carbon reduction of over 1,000 metric tons of CO2. That’s the same environmental impact as using 120,000 fewer gallons of gas or carbon sequestered by 1,258 acres of forests in one year.
Retrofitting HVAC is essential in helping the world reduce greenhouse gas (GHG) emissions. Buildings consume nearly 40% of the world’s energy and account for a similar percentage of global CO2 emissions. HVAC equipment consumes 35% of the energy used in buildings, and 30% of that is wasted by inefficient equipment and controls.
“We are constantly looking for technologies that offer greater energy savings and optimizing HVAC efficiency is a high-impact energy conservation measure that delivers immediate and long-term savings,” said John Huddock, co-founder, Motus Power. “Turntide’s Smart Motor System is a breakthrough technology that provides tremendous benefits for businesses and the environment.”
Turntide leveraged recent software, connectivity, and power electronics advances to revolutionize the electronic motor. Like bringing the fixed landline phone into the smartphone age, Turntide’s Smart Motor System integrates a reinvented switched reluctance motor with software-driven intelligence and connectivity to deliver unprecedented efficiency and reliability. Turntide makes sustainability a no-brainer, economically and environmentally — empowering businesses to save money while helping save the planet.
“Right now, there is no path to 100% renewable energy sources without drastically reducing the amount of energy we use and modernizing the world’s motors is essential in the fight against climate change,” said Kevin Blakeborough, vice president of channel strategy, Turntide. “An intelligent motor system can minimize energy use and maintenance costs, but also spread savings to broader areas of spending like HVAC and building operations.”
About Macerich
Macerich is a fully integrated, self-managed, and self-administered real estate investment trust (REIT). As a leading owner, operator, and developer of high-quality retail real estate in densely populated and attractive U.S. markets, Macerich’s portfolio is concentrated in California, the Pacific Northwest, Phoenix/Scottsdale, and the Metro New York to Washington, D.C. corridor. Developing and managing properties that serve as community cornerstones, Macerich currently owns 48 million square feet of real estate consisting primarily of interests in 44 regional town centers. Macerich is firmly dedicated to advancing environmental goals, social good and sound corporate governance. A recognized leader in sustainability, Macerich has achieved a #1 GRESB ranking for the North American retail sector for eight years (2015-2022). For more information, please visit www.Macerich.com.
About Motus Power
Motus Power is a leading installer of cutting-edge energy-saving technologies and solutions on a national scale, specializing in turnkey multi-site rollouts. Motus works with its customers to create energy conservation strategies that deliver ROI while positively impacting the environment. Offering national turnkey installations, Motus has highly trained technicians and managers to customize, install, test, and maintain solutions for the life of the product. For more information, visit www.motuspower.com.
About Turntide Technologies
Turntide Technologies Inc. invents and scales breakthrough technologies to accelerate electrification and sustainable operations for energy-intensive industries. Turntide’s integrated, open systems support commercial and industrial vehicles, building operations, and agriculture to optimize how the world uses energy. Turntide enables companies to lead their industries by attacking energy waste at every level and operating smarter for accelerated growth. For more information, visit https://turntide.com/ or follow the company on YouTube, Twitter, and LinkedIn.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/44a6d5b9-ee9b-49ea-b647-54a83d705d28
https://www.globenewswire.com/NewsRoom/AttachmentNg/6ef0c3cb-e83c-4458-ac81-7ee808f02cef
A video accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/415582ea-5866-4234-ab3c-000880ae2cc3
