Nordic 24/7 Service Oy is a company incorporated in Finland, with expertise in high performance and environmentally friendly vending coolers under the brand name Home of Cool™. It is critical for the growth strategy of our company and we have the know-how to develop and commercialise it. We are very excited to launch our new solution in the market because we believe it is a great business opportunity and an opportunity for growth, both financially and in the creation of new jobs.
Born and raised in the freezing cold of Finland, and influenced by the country’s green practices, we believed that we could build a different cooler that is not just cool but green as well. Founder Veli Eloranta set up Nordic 24/7 Services with the vision of becoming the preferred supplier of eco-friendly coolers for major brands developing POS/POP solutions. Our mission is to engineer eco-friendly coolers that give major POS and POP brands the ability to improve their green social responsibility and reduce waste while boosting their retail presence.
Our competitive edge (Unique Selling Proposition) is that we can put our cooler in limited spaces where compressor coolers cannot fit.
Refrigeration is the process of removing excess heat from space and transferring it to the environment. It is well known that spoilage of food, beverages and many other substances is reduced at a lower temperature. Thus, in order to preserve many types of perishable products from spoilage and keep them fresh for longer, commercial refrigeration systems are used where the temperature is maintained at a level much below than that of its surroundings.
The global commercial refrigeration system market is also segmented on the basis of refrigerant types - hydro chlorofluorocarbon (HCFC), hydro fluorocarbon (HFC), hydrocarbon (HC), inorganic which includes ammonia and carbon dioxide. The refrigerants which are used in refrigeration systems are expected to grow at a CAGR of 5 to 7% and fuel the growth of the global refrigeration system market.
The use of refrigerants is leading to the emission of greenhouse gases but is giving way to the use of “green refrigerants” in the commercial refrigeration system market. Utilisation of advanced refrigerants and energy efficient systems are some of the upcoming trends in the global commercial refrigeration system market.
The global commercial refrigeration equipment market was valued at $30 billion in 2014 and it is expected to reach over $40 billion by 2020. P&S Market Research forecasts the market to grow at a CAGR of 5.7%, in terms of value, over the period 2015 – 2020. The market is being driven by the growth of supermarkets, hypermarkets, and organised food retail chains.
We very much believe that our unique, patented, technology will revolutionise the sale of drinks in retail POS/POP areas, opening a great business potential to our company. The unique features and benefits of our technology will allow creative architects and interior designers to realise the modern concepts at POS where before it was impossible to achieve with compressor refrigerators.
We believe Home of Cool™ is going to revolutionise this industry. With its unique features and benefits, Home of Cool™ is distinctive from competitor products (mostly multi-national corporations) that fiercely compete. Our unique cooling technology saves space, does not generate vibrations, is eco-friendly and is flexible to creativity, allowing us to take advantage of an untapped business opportunity.
According to our field study, the long-term sales increase was up to 80% for those items available near the POS/POP.
The addressable market size (in the USA alone) for Nordic247 products as an alternative technology for traditional coolers over the coming 5 years has been estimated to be $300 million for beverages. In addition, the planned roadmap items targeted for the consumer market increases the market size substantially. The European and Asian markets are estimated to be at least as big as the US market.
Technological improvements are made and Home of Cool™ is commercial-ready.
Customers require coolers of various capacities. To reduce manufacturing costs we have designed our first One cooler. The basic cooling unit structure is based on our existing and proven model. Our modular structure allows the same structural cooling parts to be used in different models as well as in cardboard displays.
We have two types of customers:
Our customers will benefit from:
Our intention is to exploit this novel technology on a worldwide level. Through this project Nordic 24/7 will benefit from first-mover advantage to disrupt the vending cooler market. Nordic 24/7 is determined to grow fast to become a market leader. Our impact on the environment, climate and raw materials will be huge, pointing towards a more sustainable green economy.
The innovation lies in how to treat the limited/weak power of the cooling capacity. The treatment of airflow of hot and cold air is the key factor. This is protected with a patent. We have achieved the development of a cooler with peltier elements that has a cooling capacity close enough to basic compressor coolers. State-of-the-art peltier coolers could only achieve a temperature difference of 10⁰C from ambient (ambient is +21⁰C). We have broken through this boundary and managed almost to double the temperature difference, achieving an inner cooler temperature of +2.9⁰C! With our technology, we can build coolers with 80% fewer parts – a meaningful environmental impact. All parts are recyclable.
The temperature difference between internal (2.9⁰C) and ambient (21⁰C) is very steep and therefore cold air is very difficult to manage. Conventional coolers have a hinged door, which is very energy inefficient because a mass of cold air will be replaced by hotter ambient air due to the large exposed surface area. The door is opened when customers take cans or when the cooler is filled up with new cans. To better manage cold air and consequently improve energy efficiency we have designed a cooler with two hatches, a feeding hatch and a customer hatch, as shown on the right.
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Retail, Fashion, & Beauty
|Pitch Launched On||15/02/2021|
|Pitch Closes On||31/05/2021|