Energy as a service provider Redaptive gets $50M from Rabobank

energy as a service Redaptive

Energy as a service provider, and energy efficiency leader Redaptive, secured a $50 million financing; from global food and agribusiness bank, and leader in sustainability-oriented banking, Rabobank.

Firstly, companies announced this Tuesday the $50 million financing that Redaptive will canalize to lower the cost of its metering solutions; as well as to expand and diversify its funding sources.

Secondly, Rabobank acted as sole mandated lead arranger, administrative agent, and collateral agent for the debt facility.

Thirdly, the funding comes as energy as a service (EaaS) continues to grow in North America; in fact, it has become increasingly relevant as organizations seek to improve building efficiency; to reduce operating costs and greenhouse gas emissions.

Moreover, energy as a service reduce downtime, mitigate risks, and increase the profitability of an organization’s assets. They also help companies attain LEED and green building certifications; which are important and desired designations as ESG protocols are implemented.

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Energy as a service to help customers to lower risks and grow efficiency

In addition, about the reasons for Rabobank to fund Redaptive, Claus Hertel, Managing Director-Project Finance at Rabobank North America, said. “This credit facility supports the energy saving contracts Redaptive signs with its commercial and industrial customers.”

He also remarked. “Redaptive is a pioneer in the growing Energy-as-a-Service (EaaS) industry; therefore, Rabobank is proud to provide the funding that will help Redaptive drive its customers’ sustainability goals; of reducing their energy consumption and associated costs.”

On the other hand, Redaptive CFO Matt Gembrin, commented. “This facility lowers the cost of doing business; diversifies our funding resources and allows us to provide our customers with the most competitive solutions in the marketplace.”

Finally, He also remarked. “We’re excited to partner with Rabobank to grow our platform in the commercial and industrial markets; and also enables more organizations to meet their energy reduction goals.”

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