Redaptive Launches Equipment Financing Solution with Support from ATLAS SP Partners - Monitordaily
Summary
Redaptive, an energy-as-a-service provider, secured a $225 million warehouse financing facility from investment firm ATLAS SP Partners to finance the expansion of its platform by adding new equipment financing solutions for its customers, primarily commercial and industrial businesses, to install energy-saving and energy-generating equipment.Redaptive helps many of the worlds most sophisticated organizations reduce energy waste, save money, lower their carbon emissions, and meet their sustainability goals with its unique platform. The platforms expansion into Equipment Financing means that Redaptive can help customers with a full suite of traditional financing options, including leasing and loans for both new and used equipment.Redaptives equipment financing offering will include leasing and loans for both new and used equipment and allow customers to utilize usage, savings or fixed payments. Customers will also be able to convert short-term rentals into long-term leases, utlize sale-leasebacks for capital generation, and martch terms to the useful life of equipment.With Redaptive, customers across many industries can overcome capital and execution barriers to achieve sustainability benefits efficiently, Matt Gembrin, CFO of Redaptive, said. Were excited about our partnership with ATLAS SP, as it helps us expand our platform beyond our data and energy-as-a-service solutions to offer equipment financing capabilities to our customers and support their operational needs.We are pleased to provide Redaptive with additional capital to build its new equipment financing offering for customers and support the companys mission to accelerate energy efficiency and sustainable energy adoption, Thomas Pai, head of auto and equipment origination at ATLAS SP Partners, said. We look forward to continuing to partner with clients to provide the financial capacity and flexibility needed to grow.