Redaptive, an Energy-as-a-Service (EaaS) leader, announced it secured $225 million in a warehouse financing facility from ATLAS SP Partners (ATLAS SP). This funding will expand Redaptive’s data-enabled platform by adding new Equipment Financing solutions for its customers, primarily commercial and industrial businesses, to install energy-saving and energy-generating equipment with more flexible terms.
With its unique platform, Redaptive helps many sophisticated organizations reduce energy waste, save money, lower carbon emissions, and meet sustainability goals. The platform’s expansion into equipment financing enables Redaptive to help customers with a full suite of traditional financing options, including leasing and loans for both new and used equipment.
Redaptive’s Equipment Financing offering will allow customers to benefit from usage, savings, or fixed payments, convert short-term rentals to long-term leases, utilize sale-leasebacks for capital generation, and match terms to the useful life of the equipment.
KEY QUOTES:
“With Redaptive, customers across many industries can overcome capital and execution barriers to achieve sustainability benefits efficiently. We’re excited about our partnership with ATLAS SP, as it helps us expand our platform beyond our data and Energy-as-a-Service solutions to offer Equipment Financing capabilities to our customers and support their operational needs.”
– Matt Gembrin, Redaptive CFO
“We are pleased to provide Redaptive with additional capital to build its new equipment financing offering for customers and support the company’s mission to accelerate energy efficiency and sustainable energy adoption. We look forward to continuing to partner with clients to provide the financial capacity and flexibility needed to grow.”
– Thomas Pai, Head of Auto and Equipment Origination at ATLAS SP
