Noesis Energy Connects Commercial & Industrial Energy Projects with Efficiency Financing Lenders
Backed by industry-leading efficiency financing lenders, Noesis aims to unlock billions of dollars in energy savings by spurring efficiency investments.
AUSTIN, Texas, May 30, 2013 /PRNewswire-iReach/ -- Noesis Energy, the fastest-growing energy measurement and savings website, announced that it now connects energy professionals to a syndicate of efficiency financing lenders. By helping energy and facility professionals—from building managers to energy consultants and manufacturers—connect with financial institutions that specialize in efficiency lending, Noesis looks to jump-start spending on critical energy-saving investments by commercial and industrial businesses.
Noesis has signed up four energy-efficiency financing firms that, collectively, have access to billions of dollars in investment capital: BluePath Finance, Metrus Energy, TIP Capital, and Vireo Energy. The range of financing options currently offered by this initial syndicate of lenders includes capital and operating leases, efficiency services agreements (ESAs), managed energy services agreements (MESAs), and property-assessed clean energy (PACE) financing.
"Not unlike what is happening in the solar finance market, experts and industry groups such as the Environmental Defense Fund have identified billions of dollars that could be made available to fund projects, if there were fewer barriers to energy efficiency capital and more data about qualifying projects and opportunities," said Scott Harmon, CEO of Noesis Energy. "Lenders look for projects that will deliver a predictable ROI that's based on thorough and grounded savings calculations. We can help our users present their projects to financiers using a standardized and scientific framework, so that lenders can quickly and easily evaluate projects, and confidently calculate a realistic return on their investment."
"Environmental Defense Fund's (EDF) Investor Confidence Project (ICP) is pleased to see one of our project allies, Noesis, beginning to connect building owners and energy-efficiency project developers with investors," said Matt Golden, senior energy finance consultant for EDF. "Noesis is demonstrating how software can simplify project development and reduce transaction costs associated with complex energy-efficiency projects. The ICP looks forward to working with all of our allies to facilitate a robust marketplace for energy-efficiency financing through increased transparency, consistency and reliability of energy savings."
Today's announcement is part of a concerted effort by Noesis to apply industry-standard metrics to energy-efficiency projects, thereby creating a common platform for informed and scalable investment in such projects. Access to Noesis Energy's syndicate of lenders is available to the more than 10,000 registered users of Noesis, as well as for customers of Noesis Pro, Noesis' premium set of SaaS offerings for large corporations, equipment manufacturers and energy services firms. For efficiency-finance lenders, Noesis provides a marketing channel through which they can cost-effectively offer investment vehicles and other capital products to Noesis users.
"We are excited to join the Noesis platform. A data-driven approach to efficiency projects is needed to unlock this market," said Warren Jones, CEO of BluePath Finance. "BluePath is pleased to offer Noesis partners several different financing solutions for commercial, industrial and municipal efficiency projects."
"Noesis has created something that no other company has managed to build: a large marketplace of potential buyers who are tracking and measuring energy usage. This represents real deal-flow potential to us," said Sam Lines, project development director at San Francisco-based Metrus Energy, which specializes in efficiency services agreements. "We're looking forward to working with Noesis users nationwide across a variety of industry sectors on large, multi-measure efficiency projects. We can bring a no-first-cost (zero capital expense) services agreement to cover the entire cost of an efficiency project."
Ross Reida, vice president of national accounts at TIP Capital, sees the need for some reputable entity to connect energy managers with efficiency financing that banks do not currently offer. "More than 50 percent of commercial building projects in the United States are for 50,000 square feet or less. These are relatively small deal sizes that most banks won't touch. Our goal is to get these projects funded. Energy professionals who use the Noesis platform can accurately and confidently assess the return on their investments. We can offer these companies fast-turnaround financing, so they can fast-track their projects and start to take advantage of energy-saving technologies that reduce their operating costs," he said.
"The bottleneck is generally financing on most of the energy projects with which we're involved. There's a need for someone to standardize the formulas and the payback of the project, and therefore make it easier for investors to understand the risk and the reward of any given project," said Larry Thrall, managing director of Vireo Energy of Malibu, California. "Many CFOs are looking for an off-balance-sheet solution that will help them lower their operating expenses. We provide a way to make it an operating expense and not a capital expense."
Since Noesis Energy's launch in July of last year, over 10,000 energy professionals – from energy managers to consultants and efficiency product manufacturers – have signed up and have registered over 22,000 commercial and industrial facilities. With the recent introduction of advanced tools for evaluating efficiency projects, Noesis users have introduced over 900 projects from no-cost/low-cost initiatives to lighting upgrades, building controls systems, and HVAC retrofits representing over $73 million in investments. Noesis will continue its outreach to building owners and energy professionals and encourage them to bring their projects onto Noesis, leading to both a healthy pipeline of financing opportunities for lending partners and more energy cost savings being realized by Noesis users as their projects are completed.
About Noesis Energy
Noesis Energy puts businesses in control of their energy management costs. By combining big data services, energy analytics and industry expertise, our free and premium data services help energy professionals track energy performance and identify opportunities to reduce usage and costs. Noesis Energy is backed by Black Coral Capital and Austin Ventures, and maintains offices in Austin, Texas and Cambridge, Ontario, Canada. For more information, visit www.noesisenergy.com and follow us @noesisenergy. Use our site to find incentives at incentives.noesisenergy.com.
Media Contact: Tim Cox Noesis Energy, 650-369-7784, email@example.com
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SOURCE Noesis Energy
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