SAN FRANCISCO--(BUSINESS WIRE)--BluePath Finance LLC announced today the launch of their platform to provide upfront funding for the installation of energy efficient technologies.
“BluePath’s systems enable rapid transaction processing to increase the speed and volume of efficiency projects.”
BluePath works side-by-side with energy services companies, OEMs, installers and distributors to offer their customers turn-key financing. Most solutions are designed so end-users can pay for new installations from reduced utility bills and immediately realize monthly cash flow savings.
Warren Jones, CEO of BluePath said, “We saw a tremendous gap between the number of energy efficiency projects and the size of our inefficient building infrastructure. The economics of retrofits are compelling, but the lack of turn-key financing solutions, particularly for small- to medium-sized projects, prevents companies from realizing these savings.”
BluePath’s services include streamlined credit analysis, rapid processing of documentation, energy efficiency credits and rebates, and customer billing services. Michael Cox, CFO of BluePath said, “BluePath’s systems enable rapid transaction processing to increase the speed and volume of efficiency projects.”
Ideal candidates for BluePath services include commercial and industrial companies, agri-business, hospitals, and public entities such as universities and schools. Typically, projects with $100,000 to $5 million in upfront costs are funded. BluePath has particular interest in financing lighting and lighting controls, heating, ventilation and air conditioning (HVAC) systems and building controls, industrial motors and systems, boilers, furnaces, refrigeration systems, and pumping systems. The company has capacity to fund up to $150 million in retrofit projects.
BluePath is funded with private capital, including a minority investment by Heartland Financial USA, Inc., an Iowa-based commercial bank holding company with operations in four Midwest and four Western states.
Warren and Michael bring deep energy financing experience to BluePath, as former investment bankers for energy projects and technologies.
About BluePath Finance LLC
BluePath provides upfront financing for the installation of energy efficient technologies. The company’s tailored solutions enable customers to pay for equipment from reduced utility bills and to immediately realize monthly cash flow savings. Working alongside its energy services channel partners, BluePath targets commercial, industrial, municipal and agricultural end-users.
With the capacity to fund $150 million of retrofit projects, BluePath will finance technologies including lighting, HVAC, industrial equipment and pumping systems typically with $100,000 to $5 million in upfront costs. Enterprises with at least $100,000 per year in energy bills or 100,000 sq. ft. under roof are strong candidates.