Amalgamated Bank announced a capital commitment of up to $250 million to fund commercial real-estate projects originated through the FASTPACE platform, operated by Allectrify. The investment will expand access to long-term, flexible Commercial Property Assessed Clean Energy (C-PACE) financing across the United States—especially for middle-market projects ranging from $250,000 to $10 million.
Unlike traditional deal-by-deal C-PACE structures, the agreement gives FASTPACE delegated authority to screen and package qualifying projects on behalf of Amalgamated Bank, enabling a faster, more efficient process for property owners and developers.
Amalgamated Bank, known for its mission-driven banking focus, views the partnership as part of its commitment to sustainable finance and expanding access to lower-cost capital for energy-efficiency and clean-energy upgrades in commercial properties.
The bank noted that the commitment will enable C-PACE capital to be underwritten and deployed at scale without sacrificing rigor or flexibility.
KEY QUOTES:
“FASTPACE brings the kind of speed and standardization this market will greatly benefit from. With this commitment, we’re able to underwrite and deploy C-PACE capital at scale without sacrificing rigor or flexibility. It’s a win for us, for the FASTPACE team, and for the communities where these projects are happening.”
Sam Brown, Chief Banking Officer, Amalgamated Bank
“This commitment affirms the strength of the FASTPACE platform and its ability to serve as reliable infrastructure for programmatic capital deployment. Partnering with Amalgamated in this way allows us to bring C-PACE financing back to its original purpose: unlocking capital for smaller, retrofit-focused projects that were previously too time-intensive or uneconomical to close.”
Colin Bishopp, CEO, Allectrify
