Feb. 5, 2015: Transformative Wave Partners with TIP Capital to Offer HVAC Retrofit Financing
Provides Purchasing Options for Those Looking to Implement HVAC Upgrades and Retrofit Projects
KENT, Wash. — Transformative Wave has announced a partnership with TIP Capital to provide financing options to customers looking to upgrade and retrofit inefficient packaged HVAC rooftop units (RTUs) with its CATALYST system. These financing options provide customers with flexible, alternative methods to fund HVAC energy efficiency projects.
According to Transformative Wave, in many cases a building owner has zero out of pocket expense at the onset of the purchase, and with the energy savings produced by the CATALYST, customers can potentially experience positive cash flow from day one. TIP Capital’s financing options include 100 percent of the total cost of the project including installation labor and soft costs. Terms are set at a fixed rate and typical payback periods range from 2 to 5 years depending on the overall project cost.
Danny Miller, president of Transformative Wave, said, “We greatly appreciate TIP Capital’s willingness to develop a special program for customers lacking upfront capital but looking to take advantage of the benefits of the CATALYST. This program makes it possible for many customers to reduce their operating costs using someone else’s money. Our resellers are now empowered to offer this unique program to their prospective customers in 2015 and we expect it to help them in their efforts to reduce the excessive energy use of rooftop HVAC systems.”
According to the Institute of Building Efficiency, energy efficiency projects are often deferred because customers lack capital to pay for measures, want shorter payback times, and are uncertain of the value of the energy savings provided. By having available financing options, customers can take advantage of products like the CATALYST, which is a HVAC energy efficiency upgrade that converts rooftop units into part load systems, matching the energy use to the needs of the occupied space. Transformative Wave said current customers with equipment retrofitted with the CATALYST can see 25-50 percent HVAC energy savings.
Ross Reida, vice president, Specialty Markets Group, TIP Capital, said, “We are excited about our partnership with Transformative Wave and their reseller network nationwide. We already are seeing a lot of interest and success with projects funding in New York, Chicago, and Portland. The positive monthly cash flow generated for the CATALYST customers has been impressive, and customer feedback has been very positive. We look forward to supporting the growth of Transformative Wave through providing innovative and effective financing solutions for CATALYST projects across the country this year.”
For more information about Transformative Wave, visit http://transformativewave.com.
For more information about TIP Capital, visit www.tipcapital.com.
Publication date: 2/2/2015