NEW YORK and SAN DIEGO, June 23, 2016 /PRNewswire/ -- T-REX, a fintech company focused on renewable energy financial analytics, and Renovate America, the nation's leading provider of residential Property Assessed Clean Energy (PACE) financing, today announced a partnership through which T-REX will provide the analytics and structuring platform for Renovate America's capital markets transactions.
"This partnership brings together the clear market leader in PACE origination and securitization with the top player in renewable energy fintech, creating synergies to benefit the entire PACE market," said Benjamin Cohen, CEO and founder of T-REX. "We are eager to work with the world-class team at Renovate America to make the structuring of their securities more efficient and accessible to the global institutional investor community."
Under the scope of the partnership, Renovate America will use T-REX's proprietary fintech platform to interface with and educate investors and key market participants. The T-REX platform will enable quick, simple analysis of data around Renovate America's HERO PACE bond transactions.
"T-REX's platform will make our transactions transparent and available to an increasingly broad group of investors," said Adam Garfinkle, Senior Vice President of Capital Markets at Renovate America. "PACE is a relatively new asset class, so it is critical for the investor community to have access to the right information to understand the value of these securities."
Renovate America's HERO securitization platform is the first asset-backed securities (ABS) platform to solely produce green bonds, with each of the company's seven securitizations assessed by a second opinion provider. Renovate America has issued $1.35 billion in ABS through these seven transactions.
"By optimizing transaction efficiency and structuring, this partnership will help to further educate capital markets players on PACE and renewables assets in general," said Cohen. T-REX will aggregate, analyze, and index market data on transactions to provide key insights to the market."
T-REX is a fintech company that makes renewable energy finance more transparent and efficient. Through its secure, enterprise SaaS platform, T-REX provides the valuation, risk analysis, and structuring tools to unlock investment opportunities for hundreds of billions of dollars of capital to flow into renewable energy assets. Investors, asset managers, and developers are empowered to efficiently and transparently finance, securitize, and manage portfolios of renewable energy assets through the T-REX platform.
About Renovate America
Renovate America partners with state and local governments to offer HERO, a property assessed clean energy (PACE) financing program, to communities. HERO is the leading PACE program in the U.S. and has financed more than $1.5 billion of improvements, representing the vast majority of residential PACE projects nationwide. This unique public-private partnership offers consumers access to financing for more than 60 types of products that reduce energy and water consumption, without the need for government funding. The HERO Program has received a number of recognitions including a Climate Leadership Certificate for Innovative Partnerships by the U.S. Environmental Protection Agency, inclusion in the 2016 White House Water Summit, the Governor's Environmental and Economic Leadership Award in California, and the Urban Land Institute Best of the Best. Additional information can be found at www.heroprogram.com.
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SOURCE Renovate America