CLEAResult and Efficiency Capital Launch $75 Million Initiative for Commercial Energy Upgrades
AUSTIN, TX, October 3, 2023: Commercial building owners in Alberta and Saskatchewan will be able to upgrade their buildings with energy-efficient solutions and zero upfront costs. Efficiency Capital, Canada's first energy-as-a-service company, has partnered with CLEAResult, the nation’s leading energy efficiency solutions provider, to launch this innovative initiative.
Businesses in Alberta and Saskatchewan can complete energy efficiency upgrades without any upfront capital. The investment is paid back over time from the savings generated, resulting in increased building values and positive cash flows from day one. In addition to access to preferred project capital, businesses will also enjoy the support of an expert engineering and project team to help identify opportunities, and manage the project’s implementation, leaving building owners to focus on what matters most—their business operations.
Qualifying projects will undergo a diverse range of energy retrofits, including—but not limited to—building envelope improvements, on-site renewable energy generation and fuel switching for retail spaces, warehouses, accommodation and food service facilities.
“Energy efficiency and economic stimulus go hand in hand,” says Chandra Ramadurai, CEO of Efficiency Capital. “We’re thrilled to provide capital and turn-key execution for these cash flow-positive projects that Alberta and Saskatchewan building owners can use as an opportunity to lower energy costs in their facilities while creating jobs and environmental benefits that support the whole community.”
Efficiency Capital, which has a significant track record of deploying capital for energy upgrade projects across the country, will bring in the required funding and project management capability, while CLEAResult will leverage its experience and reputation as a leading program execution partner to identify, plan, leverage funding programs and support the execution of these projects.
“Our biggest challenge is that there’s so much money available, and not enough businesses are taking advantage of it,” Keri Macklin, CLEAResult’s Vice President of Decarbonization, explains. “Deploying this much capital for energy conservation as quickly as we plan to has never been done, and we’re excited to make it happen.”
We are now accepting applications for our first cohort until 31 October 2023. To apply for funding and find more details on the program, visit clearesult.com/canada/programs/energy-efficiency-retrofit-program.
CLEAResult is the largest provider of energy efficiency, energy transition and decarbonization solutions in North America. Since 2003, our mission has been to change the way people use energy. Today, our experts lead the transition to a sustainable, equitable, and carbon-neutral future for our communities and our planet. Our hometown teams collaborate with a diverse network of local partners to deliver world-class technology and personalized services that make it easy for commercial and industrial businesses, governments, utilities and residential customers to reduce their energy use and carbon footprint. CLEAResult is headquartered in Austin, Texas, and has over 2,400 employees in more than 60 cities across the U.S. and Canada. CLEAResult is majority owned by TPG through its middle market and growth equity investment platform TPG Growth and its multi-sector global impact investing strategy The Rise Fund.
Explore all our energy solutions at clearesult.com.
About Efficiency Capital
Efficiency Capital (EC) is Canada's first energy-as-a-service company that develops, funds and manages net-zero projects in the built environment. Incubated by The Atmospheric Fund (TAF) – a regional climate agency, EC seeks to increase the flow of third-party capital into such projects by leveraging strategic partnerships with various banks, impact investors, community foundations and other organizations to enable the transition to an energy efficient, low-carbon economy. EC has announced many new partnerships in Nova Scotia, Quebec and Alberta as it seeks to expand across the country and has access to significant low-cost project funding to deliver fully funded, turnkey and de-risked decarbonization solutions.
For more information, visit www.efficiencycap.com.
Director Corporate Communications