Redaptive, which offers energy-as-a-service (EaaS), has received a $650 million credit line from global investor CDPQ and Nuveen, an asset management firm, to expand its EaaS offering.
The company works for energy efficiency, sustainability innovation and scalable energy solutions through its EaaS solution and the Redaptive ONE data platform.
With this latest backing, Redaptive is well-positioned to quicken the deployment of its EaaS platform into new markets and solution categories.
This platform combines adaptable financial models, artificial intelligence-driven analytics, and exclusive measurement technologies to convert energy systems and infrastructures into highly effective and top-performing strategic resources.
This financial support will allow the firm to meet increasing client needs and provide significant commercial benefits via improved energy efficiency, increased use of renewables, and smarter buildings driven by data analysis.
The credit facility will enable Redaptive to invest more in the physical asset infrastructure throughout vast enterprise portfolios.
Redaptive intends to use this funding to keep supporting business clients through data-backed programs aimed at enhancing operational efficiency and energy production. These initiatives encompass HVAC systems, LED lighting upgrades, solar installations, battery storage, metering technologies, as well as additional improvements suitable for extensive networks spanning multiple locations.
Matt Gembrin, the CFO of Redadaptive, stated, “This newly established credit facility signifies trust in our team and our objective.”
Companies face growing demands to update their systems while maintaining financial flexibility. Our approach consistently demonstrates that you do not have to pick one over the others among operational effectiveness, fiscal restraint, and environmental responsibility — you can attain all of these goals.
This extra funding will enable Redaptive to expand its influence, speed up project implementations, and enhance its offerings in the US, Canada, and certain European markets.
This financial support will help clients reduce their operating expenses, enhance durability, and meet their long-term expansion and environmental goals without requiring initial investment or extra operational complications.
Redaptive CEO Arvin Vohra said: “CDPQ and Nuveen are both valued partners in our journey, and we are grateful for their trust in Redaptive’s vision.
“This additional support from both global investors allows us to scale our impact, bring our programmatic solutions to more customers and accelerate the transition to a more sustainable future.”
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