LONDON: eEnergy (AIM: EAAS), a net zero energy services provider, has partnered with U.S.-based Energy-as-a-Service firm Redaptive Inc. to support large-scale decarbonization efforts across the United Kingdom, the companies announced.
Under the agreement, Redaptive will provide up to £100 million in funding for Redaptive-approved eEnergy projects spanning public and private sector clients. eEnergy will oversee project implementation and assume warranty and service-related obligations. The partnership designates eEnergy as a key UK delivery partner for Redaptive-initiated ventures.
Denver-based Redaptive, founded in 2015, specializes in rapidly funding and installing energy-saving and energy-generating equipment for major corporate clients, including T-Mobile, Cintas, Saint-Gobain, and Iron Mountain. The company aims to expand its presence in the UK through collaboration with eEnergy, leveraging the latter’s expertise in LED and solar installations.
The deal allows eEnergy to streamline funding for UK customers beyond its existing NatWest facility, which is restricted to public sector projects. Additionally, Redaptive-funded initiatives will provide eEnergy with full revenue payments upon project completion, improving its cash flow.
“This is a game-changing partnership,” said eEnergy CEO Harvey Sinclair. “Redaptive’s funding unlocks growth opportunities for eEnergy, allowing us to accelerate decarbonization projects at scale. Together, we’re removing financial barriers and bringing clean energy solutions to more organizations on the path to net zero.”
Joe Bell, Redaptive’s Partnerships & International Strategy Leader, echoed the enthusiasm. “By leveraging our combined expertise and technologies, we are empowering organizations to achieve sustainability and carbon reduction goals with greater ease and scale.”
The partnership is expected to drive expansion for both companies, advancing energy efficiency efforts across the UK.