Added funds in this securitization style warehouse
facility allows further opportunities for Redaptive to install
metering, energy-saving and energy-generating projects for
customers
DENVER, May 22, 2024
/PRNewswire/ -- Today Redaptive, Inc., the Energy-as-a-Service
(EaaS) leader, announced the expansion of its warehouse facility
with Deutsche Bank's US Private Credit & Infrastructure group
to help accelerate their HVAC, LED, solar and other projects.
Deutsche Bank, acting as Sole Lead Arranger, is now joined by
Rabobank, a premier global food and agribusiness bank and a leading
financier of the energy transition, and Mitsubishi HC Capital
America, the largest non-captive, non-bank commercial finance
company in North America, which
have extended funding to this round to $250
million. The expanded facility enables Redaptive to provide
customers with the most competitive pricing for EaaS and data
offerings.
With additional funds, Redaptive expands
its warehouse facility to accelerate its HVAC, LED, solar and other
projects.
For details of the initial Deutsche Bank facility announced in
August 2023, read more
here: https://www.prnewswire.com/news-releases/redaptive-secures-125m-financing-from-deutsche-bank-to-deploy-energy-as-a-service-solutions-for-sustainability-programs-301908726.html
"The additional funding from Deutsche Bank, Rabobank and
Mitsubishi HC Capital America expands our capacity to fund
sustainability solutions in the market," said Redaptive CFO
Matt Gembrin. "We're excited to
continue to build on our existing relationships with all three
financing partners to help our customers lower their GHG emissions
and become more sustainable."
Contributors from Deutsche Bank added:
"Deutsche Bank is proud to continue to support Redaptive's
innovation and growth in the energy as a service industry," said
Blake Yaralian, Director, Deutsche
Bank Infrastructure and Energy.
In turn, representatives from Rabobank and Mitsubishi HC
Capital America added:
"We're excited to see the strides Redaptive has made toward scaling
its business in the increasingly important energy efficiency
field," said Claus Hertel, managing
director of project finance at Rabobank North America. "The
expansion of this warehouse facility will allow Redaptive to
compete more aggressively and, ultimately, help more companies
reduce their carbon footprint. Our collaboration with Redaptive
since 2021 is emblematic of Rabobank's commitment to clients as a
leading financier of the energy transition."
"Intently prioritizing sustainability and the environment is a
focused priority for our company," said Chris Pagano, Mitsubishi HC Capital America
Senior Vice President, Structured Finance and Leasing. "Back in
2015, we saw the value in Redaptive's unique offering and have
proudly been a long-standing partner. We are happy to collaborate
with them again on this latest round of funding as they further
their efforts in helping companies reduce their own carbon
footprints."
This round also follows Redaptive's $225
million warehouse facility last month and their $250 million series E, which closed late last
year. Read more about these below:
https://www.prnewswire.com/news-releases/redaptive-secures-225m-warehouse-financing-from-atlas-sp-partners-launching-equipment-financing-solution-302120899.html?tc=eml_cleartime
https://www.businesswire.com/news/home/20230503005162/en/Redaptive-Closes-Next-Phase-of-Series-E-Funding-Round-with-Further-Investment-from-Linse-Capital
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.
About Rabobank
Rabobank Group is a global financial services leader providing
wholesale and retail banking, leasing and real estate services in
more than 38 countries worldwide. Founded more than a century ago,
Rabobank today is one of the world's largest banks with over
$660 billion in assets. In the
Americas, Rabobank Wholesale Banking North America is a premier
corporate and investment bank to the food, agribusiness,
commodities and energy industries. To learn more,
visit www.RabobankWholesaleBankingNA.com.
About Mitsubishi HC Capital America
Mitsubishi HC
Capital America is a commercial finance company that has extensive
capabilities throughout North
America with its affiliate, Mitsubishi HC Capital Canada,
combining a consultative approach and expansive digital platform to
help organizations of all sizes accelerate growth. With
$7.5 billion in assets and more than
800 employees, the company is the largest non-captive, non-bank
commercial finance company in North
America. Mitsubishi HC Capital America partners with
equipment manufacturers, dealers and distributors, as well as end
customers, in providing customized financial solutions, including
transportation and commercial finance. Dedicated to improving the
communities where it operates, the company is committed to the
United Nations Sustainable Development Goals. Visit
https://www.mhccna.com/en-us
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SOURCE Redaptive