Semco Energy is launching its clean energy solution to save money, improve efficiency

Reuters  (Reuters)  The maker of Semco energy efficiency products and software said on Wednesday that it was launching its “energy efficiency” solution to reduce the energy use of its power plants.

Semco is aiming to reduce power plant electricity use by more than 50 percent in the next 15 years, the company said in a statement.

 “As an advanced company, we have an opportunity to create the most cost-effective solution to the energy efficiency challenge,” said Semco chief executive Martin Reuben.

“With Semco’s energy efficiency solutions, we aim to be able to meet the energy demand of over 100 million people by 2050, a goal that we are committed to achieving.”

The new product, called EnergyEfficient, will allow Semco to save around $1 billion per year in power bills and help companies in other industries meet their renewable energy goals.

The company is one of several energy companies aiming to make their power plants more energy efficient.

In 2016, China National Nuclear Corp and China National Petroleum Corp, China’s two largest energy firms, joined with Japan’s Hitachi Corp to form a joint venture called the Joint Power Technology and Energy Efficiency Group (JPTEG).

In February, China announced a plan to invest $50 billion in energy efficiency.

EnergyEfficient will be available as a free software upgrade to Semco Power Generation customers in Australia and New Zealand.

The company has already signed up around 100 companies for the software, said Reuben, adding that the goal was to have a global rollout of the software by the end of the year.

“I would say that the average Australian consumer, whether they own their own home or are looking at a business, will benefit from the software,” he said.

As part of its plan, Semco also plans to develop a battery storage solution that would be available in 2019.

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