Colormaker Industries

According to a new paper co-authored by ANZ and the Energy Efficiency Council (EEC), Putting energy efficiency to work for Business, energy efficiency not only helps businesses lower their bills and increase their competitiveness and productivity – it also plays an important role in helping Australia meet its net-zero goals.

One business that is forging the way in making energy efficiency central to their business is Colormaker Industries. By understanding its energy usage and investing strategically in technology, the forward-thinking paint manufacturer has reduced its energy costs and its emissions.

When David Stuart bought Colormaker Industries in 2003, he explains that he had had two goals for the business. One was to develop products based on technical excellence and take them to the world. The other was to power his business with renewable energy. Fast forward to 2024 and he’s kicked both goals.

Powering cost savings with renewables

David’s second goal: to power his business with renewable energy, aligns with his passion for the environment and desire to make Colormaker Industries a net-zero emitter. David considers that it also made good business sense, allowing Colormaker to reduce business costs. The first step was to install solar panels on the warehouse and office buildings in 2019, which David says quickly brought financial benefits.

“The electricity bill for August before we went solar was two and half thousand dollars,” says David. “By January, we had our first negative bill and we thought, how good is this?”

The business then undertook a thorough energy audit conducted by an energy engineer, with the goal to uncover any key areas for improvement.

“He identified that 26% of our electricity was going on compressed air and a third of that was being wasted,” David comments. “So in mid-2021, we bought a new compressor.”

David also purchased a second-hand Japanese electric delivery van (EV) in 2020, followed by an electric forklift.

Energy-efficient behaviour part of the low-carbon strategy

David notes that in addition to low-carbon technology, energy efficiency required some behaviour change to be successful. For example, the compressed air system was still leaking. They soon found a simple fix – to turn off all valves when not in use.

“Across the next 12 months, our electricity usage across the entire site came down 23%,” says David. 

Together with driving more kilometres in the electric vehicle and using the electric forklift, David reports that these initiatives meant the business was now 65% self-sufficient. To help get to net zero, he decided to order and install a battery. Due to delays in receiving the big battery he initially ordered, David installed a smaller one and when the big battery finally arrived, the launch was celebrated at a public Sustainability Celebration with local MPs Zali Steggall, James Griffin and the Northern Beaches Mayor attending and recognising Colormaker’s efforts in energy efficiency.

The energy savings delivered by each battery were swift and impressive.

David recalls in the first four months, installation of the small battery resulted in a real improvement in the demand for electricity which went from around 30 kilowatts down to 7. When the big battery was installed, this came down to 5 kilowatts.

Prior to going solar, the carbon footprint from Colormaker’s electricity alone was 77 tonnes of carbon per annum (tpa) and electricity cost approximately $24,000 p.a. Following the battery installation, the business carbon footprint reduced, and electricity was no longer a cost but a source of income as they fed surplus electricity generation back into the local electricity grid. The solar system also powered 50,000km of their growing electric vehicle fleet. 

David says “We didn’t do it for the money, but the numbers are incredibly compelling. It has been a journey and not every step has been forward, but it’s built resilience for our business and has been incredibly rewarding.”

Supporting the aspirations of businesses

David has a long-standing relationship with ANZ who supported Colormaker throughout their energy transition.  ANZ helped finance Colormaker’s solar panels, electric vehicles and battery system and recently worked with David to finance the newest electric van.

ANZ is committed to helping customers reach their aspirations by providing them with the right financial support. In particular, ANZ recognises that sustainable goals can improve cost-effectiveness, help set a business up for future success and increase competitive advantage.

Learn more

To learn more about how you can unlock the benefits of finding more efficient ways of using and managing energy in your business access the full report, Putting energy efficiency to work for businesses here.