CBRE Makes Strategic Investment in Redaptive to Promote Efficiency as a Service (“EaaS”) Model
CBRE Group, Inc. (CBRE) announced today that it has made a strategic investment in energy services firm Redaptive, Inc. Headquartered in San Francisco, Redaptive is a fast-growing provider of integrated energy efficiency solutions and energy financing for building owners and occupiers.
“Redaptive offers a new and compelling service for CBRE clients,” said Matt Werner, Global President, Facilities Management. “CBRE’s strategic partnership and investment will enable Redaptive to expand its capacity into more portfolios worldwide, while helping our clients reduce costs and improve sustainability.”
Mr. Werner will join the Redaptive Board of Directors, representing CBRE and other external investors.
Redaptive differs from traditional energy services firms in that it offers portfolio-wide, turnkey efficiency solutions, backed by transparent measurement and verification reporting. Redaptive finances and manages building efficiency projects, recovering costs from savings delivered. Redaptive’s solutions allow clients to implement projects in a risk-mitigated manner, leveraging third-party technology and installation partners.
“Every one of our client portfolios has latent energy inefficiencies, presenting an opportunity for improvement,” says John Hagen, CBRE’s Managing Director, Energy and Sustainability. “The challenge for many of our clients is securing capital and project resources to implement energy conservation measures when their organization has so many other priorities. We are excited to support Redaptive and bring forward a compelling option for our clients.”
“We are thrilled to have this strategic support from CBRE,” said Arvin Vohra, Co-CEO of Redaptive. “It will enable us to accelerate our product offerings and continue to break down the barriers to large-scale efficiency deployments.”
“CBRE and Redaptive are already collaborating to solve complex client problems and design unique solutions to accelerate and scale energy efficiency,” added John Rhow, Redaptive Co-CEO. “This investment and partnership bodes well for the future of the industry.”