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Jun 24, 2020 Geothermal Development & Investment Inc.

GDI concluded a dealer agreement with LU-VE Group

and began supplying Dry-coolers

Geothermal Development & Investment Inc. (Head Office: Minato-ku, Tokyo; President: Tomofumi Ono; hereinafter ‘GDI’) has concluded a sales agent agreement with the Italian LU-VE Group (Head Office: Varese, Italy), which boasts a large share of the global market in the fields of heat exchanger for industrial cooling, refrigeration and air-conditioning, and will begin providing Dry-coolers.

Dry-coolers of LU-VE Group

■ Purpose of entering into the Distribution Agreement

GDI invests in geothermal power projects, creates, and operates geothermal power projects in collaboration with local communities, and designs and operates geothermal power plants. The company also imports and sells overseas generators and various equipment.

This time, we have concluded a sales agent agreement with LU-VE Group, which allows us to provide Dry-coolers developed and manufactured by LU-VE Group as sales agents in Japan for geothermal development.

There are two types of cooling systems: air-cooled and water-cooled. Although the water-cooled system has superior cooling performance and efficiency, there was a risk of the outbreak of Legionella and the burden of operating costs related to water management. At the same time, air-cooled systems have not been widely used in Japan in terms of cooling performance and efficiency and have not yet become widespread in Japan.

However, LU-VE Group’s innovative technologies have enabled us to achieve the equivalent performance and efficiencies in air-cooling systems as in hybrid water-cooling systems.

Nowadays, many cooling systems in Europe are air-cooled. They are not limited to geothermal power generation, but are used in many industries, such as industrial waste heat power generation.

We believe that the widespread use of air-cooled cooling towers has an impact on the Japanese industry. GDI aims to transform Japanese cooling systems from water cooling to air cooling by promoting the use of air-cooled cooling towers with LU-VE Group that are superior in performance, efficiency, easy to operate, and environmentally friendly.

In addition, we will contribute to the realization of a sustainable society, which is the Group’s philosophy.

■ About LU-VE Group

Since its founding in 1986, LU-VE Group has introduced new methods for devising and manufacturing refrigeration and air-conditioning products using industry-leading technologies. As one of the world’s leading manufacturers of innovative technology and high-quality heat exchangers, the company is headquartered in Varese, Italy, and has manufacturing facilities in nine countries: Italy, China, the Czech Republic, Finland, India, Poland, Russia, Sweden, and the United States. It is also an international company with sales companies in fourteen countries.

■ Stakeholder Overview

(1) LU-VE Group

Company Name            : LU-VE Group

Head Office                   : Via Caduti della Liberazione, 53 21040 Uboldo – Varese – Italy

Website                         : https://www.luvegroup.com/

(2) Geothermal Development & Investment Inc. 

Company Name           : Geothermal Development & Investment Inc.

Representative            : Tomofumi Ono

Established In              : March 2015

Capital                         : 28.5 million yen

Head Office                 :〒105-0014, 6th Floor, Shiba-Koen ND Bldg., 2-5-10 Shiba, Minato-ku, Tokyo

Businesses                  : Investments in geothermal power generation projects, etc.

Website                       : https://www.chinetsu.com/en/company.html

■ Inquiries regarding this release

GPSS Public Relations Office

Email : pr@gpss.jp

TEL    :03-6435-2391

[GPSS Group] Based on the corporate philosophy of ‘Realizing a Sustainable Society by Utilizing Sustainable Energy,’ GPSS Group, develops, arranges, and invests in power generation projects using sustainable energy.