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 — 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.
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
With additional funds, Redaptive expands its warehouse facility to accelerate its HVAC, LED, solar and other projects.
“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 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
About Rabobank
Rabobank Group is a global financial services leader providing wholesale and retail banking, leasing, and real estate services in more than 37 countries worldwide. Founded over a century ago, Rabobank today is one of the world’s largest banks with over $678 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. Rabo AgriFinance, a subsidiary of Rabobank, is a leading financial services provider for farmers, ranchers and agribusinesses in the United States. Together, we provide sector expertise, strategic counsel and tailored financial solutions to clients across the entire value chain. Visit www.RabobankWholesaleBankingNA.com and www.RaboAg.com.
