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Redaptive Launches Equipment Financing Solution, Secures Financing from ATLAS SP Partners

April 19, 2024, 07:23 AM
Filed Under: Energy

Redaptive, an Energy-as-a-Service (EaaS) provider, announced it secured $225 million in a warehouse financing facility from ATLAS SP Partners (ATLAS SP), a global investment firm providing stable capital, financing, advisory and institutional products. The financing will expand Redaptive's data-enabled platform by adding new Equipment Financing solutions for its customers, primarily commercial and industrial businesses, to install energy-saving and energy-generating equipment with more flexible terms.

Redaptive helps many of the world's most sophisticated organizations reduce energy waste, save money, lower their carbon emissions, and meet their sustainability goals with its unique platform. The platform's expansion into Equipment Financing means that Redaptive can help customers with a full suite of traditional financing options, including leasing and loans for both new and used equipment.

Redaptive's Equipment Financing offering will unlock the ability for customers to:

  • Benefit from usage, savings, or fixed payments;
  • Convert short-term rentals to long-term leases;
  • Utilize sale-leasebacks for capital generation; and
  • Match terms to useful life of equipment.

"With Redaptive, customers across many industries can overcome capital and execution barriers to achieve sustainability benefits efficiently," said Matt Gembrin, Redaptive CFO. "We're excited about our partnership with ATLAS SP, as it helps us expand our platform beyond our data and Energy-as-a-Service solutions to offer Equipment Financing capabilities to our customers and support their operational needs."

"We are pleased to provide Redaptive with additional capital to build its new equipment financing offering for customers and support the company's mission to accelerate energy efficiency and sustainable energy adoption," said Thomas Pai, Head of Auto and Equipment Origination at ATLAS SP. "We look forward to continuing to partner with clients to provide the financial capacity and flexibility needed to grow."

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