Redaptive Secures $125M Financing from Deutsche Bank to Deploy Energy-As-A-Service Solutions for Sustainability Programs
Securitization style warehouse facility will expand deployment of Redaptive's metering, energy saving, and energy generating projects
DENVER, Aug. 24, 2023 /CNW/ -- Redaptive, Inc., the Energy-as-a-Service (EaaS) leader, has announced it secured $125 million in financing from Deutsche Bank's US Private Credit & Infrastructure group to help accelerate metering, HVAC, solar, LED, EV, and other efficiency and sustainability solutions. The warehouse facility provided by Deutsche Bank will securitize Redaptive's diverse portfolio of customer contracts allowing Redaptive to provide customers with the most competitive pricing for EaaS and data offerings.
Redaptive helps major corporations achieve net zero goals through fully-funded end-to-end energy-saving and renewable upgrades with their EaaS offering. The company also tracks and analyzes building performance and consumption of water, gas, and energy for ESG reporting for customer building portfolios via their metering platform - Redaptive ONE.
Deutsche Bank AG, New York Branch has been selected as facility agent and Deutsche Bank Trust & Agency ABS and Document Custody Services team has been selected as account bank and verification agent on this $125 million committed warehouse facility for Redaptive.
"We're excited to partner with Deutsche Bank to further entrench Redaptive's leadership position in the Energy-as-a-Service market," said Redaptive CFO Matt Gembrin. "This partnership expands our ability to offer competitive solutions to help companies reach net zero and lower their carbon footprint."
Jeremy Eisman, Head of Infrastructure & Energy Finance for the Americas, Deutsche Bank said, "We are proud to partner with Redaptive to accelerate the implementation of their sustainability solutions and further support our shared net-zero ambitions."
The World Green Building Council estimates that almost 30% of global carbon emissions come from heating and powering buildings. EaaS and metering solutions like Redaptive's can achieve energy and financial savings faster with speed-to-scale implementation and help companies meet new energy efficiency regulations and ESG goals.
About Redaptive
Redaptive is a leading Energy-as-a-Service provider that funds and installs energy-saving and energy-generating equipment. Redaptive's programs help many of the world's most sophisticated organizations reduce energy waste, optimize cost, lower carbon emissions, and meet their sustainability goals across their entire real estate portfolios. With Redaptive, customers can overcome capital and resource barriers to achieve energy-saving benefits quickly, all with continuous data powered by Redaptive's proprietary metering technology. Redaptive was founded in 2015 and is headquartered in Denver, Colorado. For more information, visit: Redaptive.com.
About Deutsche Bank
Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.
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SOURCE Redaptive
View original content: http://www.newswire.ca/en/releases/archive/August2023/24/c9826.html
