Redaptive, Energy Efficiency Leader, Recognized by the U.S. Department of Energy for Achieving Better Buildings Challenge Financial Ally Goal
As building efficiency standards increase around the U.S., Redaptive helps manufacturing customers like Saint-Gobain and Bentley Mills upgrade their facilities.
SAN FRANCISCO, May 20, 2019 - Today, the U.S. Department of Energy (DOE) recognized Redaptive, a leading provider of data-driven energy efficiency services for commercial and industrial customers, as having achieved its goal as a financial ally of the Better Buildings Challenge. The Better Buildings Challenge is a DOE program that works with market leaders to drive the acceleration of cost-effective and proven strategies to improve the energy efficiency of the nation's buildings. With portfolio projects that span across 44 states and 205 utility regions, Redaptive has unlocked tens of millions of dollars in savings in commercial buildings.
Redaptive has achieved its goal of $50 million in funds extended for energy efficiency projects in 2018. Since the Better Buildings Challenge launched in 2011, partners have saved nearly $4 billion dollars and 470 trillion BTUs of energy, while total funding extended surpasses $19 billion. Redaptive works with many Fortune 500 companies, including other members of the Better Buildings and Better Plants program. Saint-Gobain and Bentley Mills have been members of the program and deployed numerous efficiency projects at their U.S. sites.
Redaptive worked with 2018 Better Plants Energy Savings Goal Achiever Bentley Mills, California'slargest carpet design and commercial manufacturing company, to implement a number of energy efficient retrofits at their corporate office and manufacturing facility in the City of Industry that resulted in an annual savings of $270,000 and 1.64 million kWh.
"As a business that derives its culture from a sustainability driven approach, we take our footprint seriously, which is why we were so pleased to work with Redaptive to achieve significant savings," said David Turkes, Bentley Mills Director of Sustainability. "Our facility managers were looking for ways to enhance the performance of our operations while reducing our energy consumption and utilizing cost-effective methods that required no upfront capital."
Longtime Better Buildings member, Saint-Gobain, the world's largest building materials company, partnered with Redaptive to upgrade their manufacturing complex in Huntsville, Alabama with energy efficient LED lighting. Redaptive delivered a fully funded upgrade project without requiring any upfront capital from Saint-Gobain corporate. The manufacturing facility will experience an estimated 74% reduction in lighting costs. By reducing energy consumption by 1.87M kWh, the facility will avoid more than 3 million lbs. of CO2 from being emitted into the atmosphere - the equivalent of taking 299 cars off the road each year.
"We brought a unique and challenging manufacturing site for Redaptive to address, and their EaaS program was integral in achieving our cost and savings goals with minimal effort from our Huntsville team - generating savings to our bottom line and freeing up our team to do what they do best," said Ryan Spies, Director of Sustainability, Energy and Stewardship at Saint-Gobain North America.
Redaptive provides capital solutions, data transparency and project resources to scale efficiency deployments through an innovative platform, enabling measurable savings and project underwriting. Redaptive's platform helps companies track the savings from LED, HVAC and RTU retrofits, replacements and other infrastructure equipment to empower energy managers with insights and metrics to enhance business performance. By taking on every aspect from plan to execution, Redaptive removes the risk and ensures project success, making it easier for customers to switch to energy efficiency technologies at scale across their real estate portfolios.
"We are proud to be members of a program that is well aligned with our own mission," said John Rhow, Co-CEO at Redaptive. "We look forward to continuing to work with the Better Buildings program and its members to continue to break down the barriers to large-scale energy efficiency adoption," added Arvin Vohra, Co-CEO at Redaptive.
Redaptive enables large-scale rapid deployment of energy efficiency technologies and delivers immediate returns and long-term value across our customers' real estate portfolios. Our Efficiency-as-a-Service solution provides turnkey efficiency upgrades that include materials, installation and maintenance. Customers realize immediate utility bill savings and actual kWh savings are verified through Redaptive's metering and building intelligence platform to determine a monthly avoided energy payment. Redaptive currently manages a national portfolio of efficiency projects for commercial and industrial customers, including AT&T, Aramark and McKesson, and many other Fortune 500 companies. The company is headquartered In San Francisco, CA. Redaptive investors include CBRE, ENGIE New Ventures, Evergy Ventures, and Linse Capital.