Redaptive secures $650m credit facility to expand EaaS platform

Redaptive, an energy-as-a-service (EaaS) provider, has secured a $650m credit facility from global investment group CDPQ, and Nuveen, an asset manager, to upscale its EaaS platform.

The company works for energy efficiency, sustainability innovation and scalable energy solutions through its EaaS solution and the Redaptive ONE data platform.

With this latest backing, Redaptive is well-positioned to quicken the deployment of its EaaS platform into new markets and solution categories.

The platform merges flexible financing structures, AI-powered insights and proprietary metering technology to transform energy and infrastructure into efficient and high-performing strategic assets.

The funding will enable the company to cater to growing customer demand and deliver tangible business value through enhanced energy efficiency, renewable generation and data-driven building performance.

The credit facility will also support Redaptive in investing further in physical asset infrastructure across extensive enterprise portfolios.

Redaptive plans to utilise this capital to continue aiding enterprise customers with data-driven efficiency and energy generation programmes including HVAC, LED lighting, solar, storage, metering solutions and other enhancements that can be implemented across large-scale, multi-site portfolios.

Redaptive CFO Matt Gembrin said: “This new credit facility is a vote of confidence in both our team and our mission.

“Enterprises are under increasing pressure to modernise their infrastructure while staying financially agile. Our model continues to prove that you don’t have to choose between operational efficiency, capital discipline and sustainability – you can achieve all three.”

The additional financing will allow Redaptive to broaden its reach, escalate project deployments and further refine its solutions in the US, Canada and select European markets.

The funding will also enable customers to lower operational costs, improve resilience and achieve long-term business growth and sustainability objectives without the need for upfront capital or additional operational complexity.

Redaptive CEO Arvin Vohra said: “CDPQ and Nuveen are both valued partners in our journey, and we are grateful for their trust in Redaptive’s vision.

“This additional support from both global investors allows us to scale our impact, bring our programmatic solutions to more customers and accelerate the transition to a more sustainable future.”