Redaptive, Inc., a leader in Energy-as-a-Service (EaaS), has secured $125 million in funding from Deutsche Bank’s US Private Credit & Infrastructure group. This financial support will facilitate the rapid expansion of Redaptive’s projects involving metering, HVAC, solar, LED lighting, electric vehicles (EVs), and other efficiency and sustainability solutions. Deutsche Bank’s warehouse facility will be employed to securitize Redaptive’s diverse array of customer contracts. This strategic move will enable Redaptive to offer its customers competitive pricing for both Energy-as-a-Service and data-related offerings.
Redaptive’s core focus is aiding major corporations in reaching their net zero objectives. They achieve this through comprehensive, fully-funded energy-saving and renewable upgrades, underpinned by their EaaS model. The company additionally employs their metering platform, Redaptive ONE, to monitor and analyze building performance, along with water, gas, and energy consumption. This data supports ESG reporting for customers’ building portfolios.
Deutsche Bank AG, New York Branch, has been selected to serve as the facility agent, while Deutsche Bank Trust & Agency ABS and Document Custody Services team have been chosen as the account bank and verification agent, respectively, for the $125 million committed warehouse facility for Redaptive.
According to estimates by the World Green Building Council, nearly 30% of global carbon emissions originate from the energy used for heating and powering buildings. EaaS and metering solutions, such as those provided by Redaptive, offer an expedited path to energy and financial savings. Their rapid implementation speed contributes to scalability and assists companies in meeting evolving energy efficiency regulations and Environmental, Social, and Governance (ESG) objectives.
“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.”