Joule Assets joins Toniic, a Global Action Community for Impact Investors
Vetted for Toniic's Impact Funds Platform, Joule's ERA Fund is now available on GUST
Dec 10, 2015, 08:14 ET
BEDFORD HILLS, N.Y., Dec. 10, 2015 /PRNewswire/ -- Today Joule Assets Inc., the leading provider of financing solutions for the energy efficiency and demand management industries, announced that they have now joined the Toniic Impact Funds Platform. Toniic is a global action community for impact investors. Joule is proud to announce its ERA Fund has been vetted and is now available for consideration to the Toniic impact investor community. Following a recent capital raise and a portfolio-wide insurance offering, this announcement further solidifies the ERA Fund's critical role in financing energy efficiency upgrades for small and medium enterprises (SMEs), which make up over 97% of the commercial building market in the U.S. and which have historically lacked access to the capital needed to modernize building systems.
Amid COP 21, legislatures around the world are committing to comprehensive emissions reductions plans and climate resilience programs. The European Union and United States are specifically being challenged, as major global economies with growing environmental footprints, to find financially compelling ways to reduce emissions. As a result, energy efficiency (EE) has been identified as an indispensable tool for cutting energy use without compromising economic growth, and Joule's ERA Fund, a $100M Private Equity Fund, aims to provide the financial platform necessary to implement energy efficiency upgrades at scale. In not sacrificing propitious financial returns for its investors, the ERA Fund is expected to produce low-risk base returns of 8-10 percent and projects additional mezzanine returns of 5-15 percent.
"There is a growing trend of investors seeking to align their investments with their values while not sacrificing returns. The $279B investment opportunity in energy efficiency retrofits is an opportunity that perfectly combines these two goals," said Maria Fields, Managing Director, Joule Assets. "Toniic is at the forefront of connecting investors with the kinds of opportunities they are looking for and we are pleased to be part of their network. By providing investments aligned with core energy and environmental values, Joule Assets will play an integral role in reducing energy consumption through innovative financing, and ultimately in enabling the transition to a low carbon economy."
Since launching the ERA Fund, Joule Assets has on-boarded and vetted 13 contractors including, NorthWrite, Incenergy, and others. Joule now has $7 million in capital under management and has secured performance financing on its portfolio through Hartford Steam Boiler, a subsidiary of Munch Re. Joule's financing is aligned with project performance, placing the firm at the forefront of industry trends and poised for scale. Joule's projects range from $50K to $1M, a market segment whose needs have been largely unaddressed. Joule's goal is to transform this untapped market, providing these smaller-scale contractors with the same quality of financing that large-scale energy efficiency projects have benefitted from over the years.
"Energy efficiency has traditionally been a very non-standard investment vehicle and we're committed to changing that. The ERA Fund aims to bring standardization and scale to performance based financing, creating triple bottom line results," said Mike Gordon, CEO and Co-founder of Joule Assets. "The transition to a low carbon economy requires that private capital be brought to bear to invest in energy efficiency and demand management projects. Joule is committed to an investment strategy that creates compelling absolute and risk adjusted returns through a highly process driven approach. This has not been done in this industry to date and it has held back efficiency as a mainstream investment."
About Joule Assets
Joule Assets delivers financing solutions for energy efficiency and demand management initiatives and projects. Through its first-in-kind Joule Energy Reduction Asset (ERA) Fund, a global private equity fund initially targeting $100M, Joule provides previously unavailable, upfront financing to energy efficiency projects, cycling returns from monetized energy savings back to Fund investors. Joule Assets leverages its proprietary database, market analysis software, and extensive industry expertise to deliver a secure financing option for vendors and untapped revenue streams for investors. You can learn more about Joule Assets and the ERA Fund at: http://www.jouleassets.com/ or apply for a consultation here. You can also follow us on Twitter @JouleAssets.
Toniic is the global action community for impact investors. It serves individuals, family offices, foundations and funds increasing the velocity of money and services into impact investing to address global challenges. Its members are committed to discover, evaluate, nurture and invest in financial products – in all asset classes – that promote a just and sustainable economy. Through the 100%IMPACT network, members of Toniic share portfolios and learn, together, how to best align financial assets with personal values. Toniic has members in over 26 countries and its members have invested globally. You can find more information on Toniic at: http://www.toniic.com/
Lauren Burke, MissionCTRL for Joule Assets
SOURCE Joule Assets, Inc.
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