AEC Provides $900,000 Facility for Energy Efficiency Project in Northern California
NEW YORK - Using $900,000 in capital provided by Advanced Energy Capital (“AEC”), RTRO Energy saw to the installation of energy efficient windows, the optimization of the HVAC system and LED lighting for a large building owned by a municipality in Northern California. The energy efficiency retrofit began in May of 2017 and now, one year later, statistics have shown the city has achieved a 70 percent reduction in energy costs, and should see positive cash flow of $20,000 per year. The city had absolutely no out of pocket costs at all as the energy savings more than paid for the equipment and installation.
“AEC’s expertise providing financing to the energy efficiency industry gave our client the confidence that AEC understood the unique nuances of the deal and the industry as a whole. It’s this expertise that enabled us to close and fund in the short time frame the client required” said Tom May, principal and founder of RTRO Energy. “AEC is focused on providing financing solutions to the energy efficiency and renewable energy firms and projects of all sizes. This is another deal where their speed and flexibility made the difference.”
“RTRO has many years of experience installing energy efficiency equipment and solutions for buildings of all sizes. This deal has helped the city achieve their goals without any investment of capital at all,” said Jack Doueck, principal and founder of AEC. “It gives us a lot of satisfaction when our clients make the world greener and save their clients lots of money in the process. We are thrilled because the clients are thrilled. Working with RTRO was a pleasure – and it continues to be a strong partnership.”
Publication date: 7/5/2018