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Redaptive Expands Financing Partnership to Accelerate Energy Projects

Redaptive, Inc., a leader in Energy-as-a-Service (EaaS), has announced an expansion of its financing arrangement with Deutsche Bank to further fund Redaptive’s HVAC, LED, solar, and energy projects.

Joining Deutsche Bank in a deal originally inked last year are Rabobank and Mitsubishi HC Capital America. Rabobank, a prominent global food and agribusiness bank and a key financier of the energy transition, and Mitsubishi HC Capital America, the largest non-captive, non-bank commercial finance company in North America, have extended the funding to a total of $250 million. This expanded facility enables Redaptive to offer its customers more competitive pricing for its EaaS and data solutions.

The announcement comes on the heels of Redaptive’s recently announced 2024 E+E Leader Award, received in partnership with WPT Capital Advisors for exceptional software implementation of the Redaptive ONE solution. Additionally, in April 2024, Redaptive secured a warehouse facility from ATLAS SP Partners to broaden its platform with new equipment financing solutions for its customers in an initiative allowing them to install energy-saving and generating equipment with more flexible terms.

“The additional funding from Deutsche Bank, Rabobank, and Mitsubishi HC Capital America expands our capacity to fund sustainability solutions in the market,” stated Redaptive CFO Matt Gembrin. “We’re excited to continue to build on our existing relationships with all three financing partners to help our customers lower their GHG emissions and become more sustainable.”

Rabobank’s Managing Director of Project Finance in North America, Claus Hertel, commented, “We’re excited to see the strides Redaptive has made toward scaling its business in the increasingly important energy efficiency field. The expansion of this warehouse facility will allow Redaptive to compete more aggressively and, ultimately, help more companies reduce their carbon footprint. Our collaboration with Redaptive since 2021 is emblematic of Rabobank’s commitment to clients as a leading financier of the energy transition.”

 

Chris Pagano, Senior Vice President of Structured Finance and Leasing at Mitsubishi HC Capital America, remarked, “Intently prioritizing sustainability and the environment is a focused priority for our company. Back in 2015, we saw the value in Redaptive’s unique offering and have proudly been a long-standing partner. We are happy to collaborate with them again on this latest round of funding as they further their efforts in helping companies reduce their own carbon footprints.”

The expanded financing arrangement is set against a backdrop of robust growth in clean energy investments. According to the International Energy Agency (IEA), global investment in clean energy technologies was expected to reach $1.7 trillion in 2023, surpassing investment in fossil fuels for the first time. This shift is driven by increasing concerns about energy security and the economic advantages of renewable energy sources. Recent U.S. tax credit transferability rules have attracted billions in financing for utility-scale solar and battery storage projects, further accelerating the deployment of clean energy infrastructure.

Redaptive’s strengthened financing arrangement positions it to further support its customers in achieving their sustainability goals, providing enhanced financial flexibility and competitive pricing in the growing EaaS market. As the global focus on decarbonization intensifies, such strategic partnerships and innovative financing mechanisms will be crucial in driving the transition to a low-carbon economy.

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