Redaptive, a pioneering force in Energy-as-a-Service (EaaS), has announced a substantial $125 million financing boost from Deutsche Bank’s US Private Credit & Infrastructure group. This infusion of funds is poised to expedite the deployment of diverse efficiency and sustainability solutions, encompassing metering, HVAC, solar, LED, and electric vehicle (EV) infrastructure.
The warehouse facility extended by Deutsche Bank is set to securitize Redaptive’s expansive array of customer contracts. This strategic maneuver will empower Redaptive to offer its clientele the most competitive pricing for their Energy-as-a-Service and data-driven offerings.
Redaptive’s primary focus lies in assisting major corporations in achieving their net zero goals through comprehensive energy-saving and renewable upgrades, all funded through their EaaS framework. The company’s prowess extends beyond mere implementation; it includes tracking and analyzing building performance, as well as water, gas, and energy consumption for Environmental, Social, and Governance (ESG) reporting across customer building portfolios, facilitated by their proprietary metering platform – Redaptive ONE.
Deutsche Bank AG, New York Branch will assume the role of facility agent, while the Deutsche Bank Trust & Agency ABS and Document Custody Services team will function as the account bank and verification agent for the $125 million committed warehouse facility designated for Redaptive.
Matt Gembrin, CFO of Redaptive, expressed enthusiasm about the partnership: “We’re thrilled to collaborate with Deutsche Bank to further solidify Redaptive’s leadership in the burgeoning Energy-as-a-Service arena. This partnership amplifies our capability to offer competitive solutions that drive companies towards achieving net zero status and reducing their carbon footprint.”
Jeremy Eisman, Head of Infrastructure & Energy Finance for the Americas at Deutsche Bank, conveyed his satisfaction, stating, “Our partnership with Redaptive is a source of pride as it propels the implementation of their sustainability solutions and aligns with our shared net-zero aspirations.”
With nearly 30 percent of global carbon emissions stemming from building heating and power, the significance of energy efficiency solutions is undeniable. Redaptive’s EaaS framework and advanced metering solutions hold the potential to achieve rapid energy and financial savings through swift implementation. These solutions also play a pivotal role in aiding businesses in meeting evolving energy efficiency regulations and ESG objectives, offering a dynamic pathway towards a greener future.