Reducing cost of Energy in Banking Sector

Considering the diversity and magnitude of a country like India, banks turn out to be the sole medium to connect millions to financial services. With a count of nearly 150,000 retail banking branches spread across the country, banks have been extensively using uninterruptible power supply (UPS) systems. This huge network relies heavily on lead-acid batteries, forming the backbone of their power management strategy.

However, managing and maintaining lakhs of such batteries across this wide network of banks across the country raises problems - in terms of economic and ecological efficiency and performance.

Energy & Fire, known for its Battery Restoration Technology, is completely revamping the battery maintenance approach for the Indian banking sector. The company offers advanced, cost-effective, and eco-friendly solutions that help banks and financial institutions reduce expenses, extend battery lifespan, and minimize environmental impact.

These factors highlight the need for advanced battery management systems that prioritize sustainability in every aspect—an area where Energy & Fire's expertise and capabilities truly stand out.

Energy & Fire Tech India : A Game-Changer in Battery Restoration Technology

Over the last 8 years, Energy & Fire Tech India has established itself as a pioneer in extending the lifespan of lead-acid batteries with its innovative Battery Restoration Technology. Their solutions improve battery capacity, reduce sulfation—a leading cause of battery failures—and significantly lower maintenance costs.

Here’s how Energy & Fire is making a difference:

• Battery Rejuvenation Technology - EBEP: This technology enables the company to restore old lead batteries used in stationery applications to near-new condition, extending their service life by up to 70% and reducing the need for frequent replacements.
• Cost-Effective Batteries on Lease Service: The company offers Batteries-as-a-Service (BaaS) model, where batteries are available on lease without the upfront cost of purchasing new ones, which also provides benefit from comprehensive maintenance and replacements as and when needed, enjoy tax advantages, and significantly reduce operational costs.
• Smart Battery Monitoring System – The company has recently developed a Smart Battery Monitoring System for its bulk battery users, The Smart Battery Monitoring System tracks real-time battery performance, detects issues early, and optimizes maintenance to extend battery life, reduce downtime, and ensure reliability.
• Sustainability: As over 300,000 batteries have been revived over time, the business has greatly mitigated the ecological impact caused by battery disposal.
• Economic Impact: Energy & Fire is demonstrating that energy sustainability and economic viability are not mutually exclusive as it has proved with several clients in last 8 years that there is a cost saving also while the lifespan of the batteries is prolonged unconventionally.

The Numbers Speak for Themselves

The scale of Energy & Fire Tech India’s impact and achievements speak for themselves:

• More than 500 corporations served since 2017, including industries like telecom, banking, and manufacturing - which use batteries heavily.
• Preventing substantial waste and pollution with over 3 lakh batteries rejuvenated.
• A total of 300+ franchise partnerships in different regions across India, enabling customers from all regions of the country to utilize its services.

Such initiatives are crucial in addressing the increasing environmental concern, according to the UN Global E-Waste Monitor, 2023, a developing country like India produces almost 2.7 million tonnes of e-waste every year. Energy & Fire has been actively working towards reducing battery waste - the need of the hour.

Expert Perspectives

Energy management experts highlight that the development of environment friendly alternatives is critically essential in industries with high energy consumption.

“Lead-acid batteries are indispensable for uninterrupted operations in sectors like banking. Extending their life cycle not only reduces costs but also supports environmental goals. Companies like Energy & Fire are setting the benchmark for sustainable battery management,” says Ravi Menon, an energy consultant.

Banks, too, are recognizing the value of such innovations. According to Pankaj Gupta, a senior operations manager at a leading private bank, “Energy & Fire’s battery rejuvenation services have helped us cut battery replacement costs by nearly 40%. Their lease model also gives us flexibility without compromising reliability.”

Future Outlook: Scaling Impact in Banking and Beyond

As the expansion of bank operations progresses, the demand for reliable and dominating sustainable UPS battery solutions will increase. Energy & Fire Tech India is well positioned to meet this scale of demand with its expanding footprint and innovative offerings

Additionally, their investment in research and development as well as advanced technology enables them to dominate the battery restoration sector.

Conclusion: A Sustainable Path Forward

Handling millions of UPS batteries used across retail banking network is an organizational nightmare, but it also presents the possibility of obtaining more eco-friendly and economically beneficial approaches. Energy & Fire Tech India has taken up the initiative by developing solutions that are cost-effective and eco-friendly.

For Energy & Fire’s customers - partners from the banking sector - engaging with the company is not simply a means of cost reduction. It is a matter of ensuring reliability, meeting sustainability targets, and adopting necessary innovative approaches to be relevant in today’s operational environment. With the transformations taking place in the financial services industry, such approaches will go a long way in ensuring competitiveness and sustainability.

In the words of Kavinder Khurana, MD of Energy & Fire Tech India, “Our mission is to transform battery management into a sustainable practice that delivers long-term value for businesses and the environment. The banking sector plays a crucial role, and we are here to support them every step of the way.

"For more information on How Energy and Fire Tech India is helping businesses achieve energy cost savings, please visit our website: www.restorelife.io 

For any business enquiries write us at- info@restorelife.io 

By choosing Energy & Fire Tech India, banks can optimize their operations today while ensuring a more sustainable and eco-friendly future.

Disclaimer: This article has been produced on behalf of the brand by HT Brand Studio