Iron Mountain
At a Glance
Industry
Internet, Software, Hardware and Technology Services
Project Types
Clean and Renewable Energy, Commercial Energy Efficiency, Data Analysis
Year
2021
Location
Boston, MA
Summary
Maaz Haider developed a transportation electrification framework for Iron Mountain’s North America fleet with the help of a total cost of ownership model, followed by a market analysis of countries in Asia and Latin America.
Goals
Iron Mountain (IM), a global data and records management enterprise, plans to achieve net-zero by 2040. IM’s vehicle fleet contributes around 40% of total GHG emissions. To comply with their environmental targets, Iron Mountain brought Maaz Haider onboard to explore incentives for commercial fleet electrification to fast-track electric vehicle deployments in North America. Furthermore, Maaz was also tasked to develop a transportation electrification market analysis for IM markets in Asia and Latin America to determine our potential countries for strategic engagement.
Solutions
Maaz approached the challenge by understanding the fleet characteristics such as exploring the market and state-specific regional vehicle clusters, followed by a distribution of vehicle classifications and ownership types. He also developed a total cost of ownership model to gain a better understanding of the acquisition and maintenance of an electric vehicle to identify conversion opportunities. This laid the foundation for further analysis helping to formulate specific recommendations for the IM Fleet Team. After evaluating fleet dynamics based on clusters, type, classes, and ownership, in the states of California, Texas, New Jersey, New York, Pennsylvania, and Maryland, Maaz researched multiple grant opportunities to make the electrification business cases more favorable. He also completed an overall study evaluating incentive structures and market readiness in IM’s other global markets, executing a deep dive into fleet dynamics outlining recommendations for transportation electrification strategy in Singapore and India followed by a high-level roadmap for potential countries to pursue EV conversions in the Asia-Pacific and Latin American region.
Potential Impact
For North America, Maaz assisted the IM team in applying for $250,000+ grant funds, in Pennsylvania, New Jersey, and Maryland. These covered 25+ vans saving approximately 39,000 gallons of gasoline/year, over 400 metric tons of annual CO2 emissions, and a minimum of $115,000 in total ownership costs for EVs as compared to combustion engine vehicles. For Singapore, Maaz explored local government incentives for fleet electrification outlining a savings potential of $1,000,000 (USD 740,000) for a total of 20+ vehicles in the territory. He further developed a roadmap after evaluating 16 countries on 12-points criteria outlining viable future markets for pursuing fleet electrification.