NYCEEC Elevates Fred Lee to Co-CEO Role to Drive Growth and Support NYC PACE Implementation

NEW YORK, June 4, 2019 /PRNewswire/ -- New York City Energy Efficiency Corporation (NYCEEC) announced today that Fred Lee, currently NYCEEC's Director of Legal and Business Development, will succeed Susan Leeds as Co-CEO of the organization effective July 1, 2019.  Curtis Probst, who joined as a Board member in 2015 and as Co-CEO in 2018, and Fred, a founding member of NYCEEC, will lead the organization as Co-CEOs going forward.  Susan, the founding CEO of NYCEEC, will join the Board of Directors and plans to assist NYCEEC in support of certain key initiatives.

Jeff Brodsky, Chairman of the NYCEEC Board of Directors and Vice Chairman of Related Companies, said "We are incredibly grateful for Susan's hard work and dedication establishing NYCEEC in 2011 and growing it over the last eight years. We are pleased that she has accepted our invitation to join the Board and to assist us with certain efforts going forward.  We also welcome Fred to the Co-CEO role and appreciate the insights and experience he brings."

Greg Hale, Senior Advisor for Energy Efficiency Markets and Finance, NYSERDA, said, "Energy efficiency financing is a key element in New York State's strategy to achieving its overarching policy goal of achieving a carbon neutral economy.  As an architect of NYCEEC and founding member of NYCEEC's Board, it's been very satisfying to see the company achieve over $150 million in energy efficiency and clean energy financing impact.  I'm thankful for Susan's leadership over these past eight years, and am confident that Curtis and Fred will continue NYCEEC's momentum.  I look forward to working with all three of them in their new roles." 

Susan commented, "It has been very rewarding to establish NYCEEC and lead its growth for many years. We have had a significant positive impact on the environment, improving hundreds of multifamily and commercial buildings including over 5,000 affordable housing units. Yet there remains much work to do. I look forward to assisting NYCEEC in my new role, and will continue to work with Curtis, Fred, the rest of NYCEEC staff, and other Board members to advance energy efficiency and clean energy markets for the benefit of all."

"Susan has been a leader in these markets" said Probst. "While I will miss the day-to-day interaction of working with her as Co-CEO, I am thrilled to welcome Fred Lee to that role. Fred has invaluable experience as one of the founding members of NYCEEC, serving as general counsel and leading key business development activities. Fred has been orchestrating NYCEEC's efforts on Commercial Property Assessed Clean Energy (C-PACE), and with the recent passage of enabling legislation in New York City, will help lead the implementation of NYC C-PACE."

Fred noted, "It is an honor to join the leadership team at this important stage in NYCEEC's development, and to work more closely with Curtis in executing our mission. NYCEEC has grown its geographic reach, finalized its new strategic plan, and is preparing to add PACE to its broad array of financing products. These are exciting times, and I look forward to the challenges that lay ahead." Fred added, "Though I will miss daily discussions with Susan on a broad range of topics, I look forward to our continued work together in her new role."

Fred is a founding member of NYCEEC and has been with the organization for eight years. Fred currently serves as an officer of the organization and as its general counsel. He has handled a wide range of responsibilities for NYCEEC including sourcing, closing and managing high-impact energy efficiency and clean energy financing transactions. Fred has led NYCEEC's efforts to advise and support New York City in the development and design of a new C-PACE program. Prior to joining NYCEEC, Fred was Assistant Director in the Center for Economic Transformation at the New York City Economic Development Corporation, where he led the Clean Technology and Energy team.

About NYCEEC
NYCEEC is a leading non-profit finance company that provides loans and financing solutions for energy efficiency and clean energy projects.  NYCEEC finances projects that save money, save energy and reduce greenhouse gases.  We are helping our communities achieve a clean and sustainable future.  NYCEEC has financed over $150 million of energy efficiency and clean energy projects across hundreds of buildings and over 5,000 affordable housing units.  Learn more at www.nyceec.com.

SOURCE NYCEEC

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