July 25, 2005

Hudson's Bay Co to become the first retailer in deep lake water cooling system

TORONTO, ONT-Hudson's Bay Company (Hbc) is preparing to become the first retailer to participate in Enwave Energy's Deep Lake Water Cooling (DLWC) system. The company will be converting its largest store and head office tower, both in downtown Toronto, to this renewable energy source for cooling in 2006. The initiative will also make Hbc the first retailer in Canada to tap into this resource. Hbc has committed to a long-term partnership with Enwave which will reduce water consumption by more than five million gallons per year, and electricity consumption by an equivalent of the average usage of 400 homes. "This reaffirms the flexibility of our DLWC service as it is able to satisfy the business and operating needs of very diverse organizations," said Enwave president and CEO Dennis Fotinos. Above-normal hot temperatures since June have prompted Hbc to instruct all its Ontario stores to reduce energy consumption by 10%. As the heat wave continues, the company recently increased that level to 20% in an effort to help further reduce pressure on Ontario's power grid.

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