New Financing to Accelerate the Growth of Energy Management as a Service in the Commercial Building Sector
RESTON, Va. & ANNAPOLIS, Md.--(BUSINESS WIRE)--GridPoint, a smart buildings technology innovator, today announced an investment by Hannon Armstrong (NYSE: HASI), a leading investor in climate change solutions, allowing GridPoint to offer a more accessible behind-the-meter energy efficiency solution for small to mid-sized buildings.
GridPoint will now offer its award-winning energy management platform as an all-inclusive service, requiring zero capital down with a monthly pricing structure. This go-to-market strategy eliminates the financial hurdles associated with up-front costs and enables customers to deploy the platform at multiple locations with more impactful energy and emissions savings from day one.
GridPoint’s Energy Management as a Service (EMaaS) approach combines installation, equipment, software and service costs into a bundled monthly payment that is designed to be significantly lower than the energy savings the solution provides. As part of the agreement, Hannon Armstrong will provide long-term financing for EMaaS projects across GridPoint’s clients’ distributed portfolio of sites.
“High up-front capital costs have been a long-time hurdle when selling energy and demand management technology to businesses,” said GridPoint CEO Mark Danzenbaker. “The synergies between GridPoint and Hannon Armstrong enable our technology to be more accessible while creating a greater carbon emission reduction and energy savings impact for customers.”
“As a longtime investor and advocate for energy efficiency innovation, we are thrilled to support GridPoint with the capital to facilitate their new Energy Management as a Service offering,” said Hannon Armstrong President and CEO Jeff Eckel. “The energy efficiency and optimization market for small and mid-sized commercial buildings has historically been underserved, and we believe the potential for significantly reducing carbon emissions through this market, which is poised for high growth, is significant.”
Building Optimization Made Simple
GridPoint’s platform captures energy and facility data from buildings to better understand patterns, identify inefficiencies, and assess building health across enterprises. GridPoint Energy Manager software then makes the data actionable by leveraging controls and automation tools to optimize energy and facility operations, save money, and reduce the greenhouse gas emissions from buildings that accelerate climate change.
GridPoint’s flexible and expandable platform also enables customers to participate in utility-based programs, like demand response, and integrate with other distributed energy resources (DERs) to achieve greater value and support a more reliable and resilient grid. GridPoint’s platform is installed in over 15,000 locations, has saved customers over $440 million in energy costs, and has reduced over 5.6 billion kWh to-date.
GridPoint is a smart building technology leader transforming the way businesses use energy. Our innovations help customers and partners make buildings more efficient in order to lower costs, achieve energy goals, and contribute to a more sustainable future. Powered by the best data, GridPoint’s solutions are installed in over 15,000 locations including fortune 500 enterprises, small businesses, government organizations and industrial complexes. Learn more at www.GridPoint.com.
About Hannon Armstrong
Hannon Armstrong (NYSE: HASI) focuses on making investments in climate change solutions by providing capital to the leading companies in the energy efficiency, renewable energy and other sustainable infrastructure markets. Our goal is to generate attractive returns for our stockholders by investing in a diversified portfolio of investments that generate long-term, recurring and predictable cash flows from proven commercial technologies. Based in Annapolis, Maryland, Hannon Armstrong is proud to be the first U.S. public company solely dedicated to investments that reduce carbon emissions or increase resilience to climate change. For more information, please visit www.hannonarmstrong.com. Follow Hannon Armstrong on LinkedIn and Twitter @HannonArmstrong.