WASHINGTON--(BUSINESS WIRE)--Metrus Energy, Inc., which delivers turnkey energy efficiency finance and project management solutions, joined President Obama today to advance the White House’s Better Buildings Challenge (BBC). Serving as a forum for collaboration and deal making, the BBC brings together a select group of partners including cities and commercial building owners with financial allies to drive billions in privately funded energy savings nationwide. Today’s gathering welcomes new partners to the BBC and acts as a working session with key government and private sector stakeholders to expedite development and financing of near-term projects.
Among the inaugural financial partners announced this June, Metrus has since secured more than $10M in ‘letters of intent’ on projects and is well on its way to exceeding its BBC commitment. Metrus upped its BBC commitment today in energy efficiency projects to $75M. Metrus’ momentum is building on its successful track record of past projects with BAE Systems with whom Metrus is actively advancing on multi-million-dollar ESA projects at additional BAE Systems sites.
“The Metrus model unlocks the benefits of energy efficiency for thousands of businesses that otherwise would not tap that resource,” said Scott Henderson, director of finance for the C40 Cities Climate Leadership Group, in partnership with the Clinton Climate Initiative. “Innovators such as Metrus Energy and their partners in the Better Buildings Challenge have shown real leadership by publicly committing to the development of energy efficiency projects that will ultimately save building owners money, reduce pollution, and help create skilled jobs.”
Metrus’ financing solution treats energy efficiency as a resource, enabling businesses to redirect current utility spending to pay for the efficiency upgrades. Via the Metrus Efficiency Services Agreement (ESA), businesses pay zero upfront costs with repayment based on secured and verified energy savings.
“We’ve built our business around the fundamental idea that energy efficiency is more than a new lighting, heating, or cooling system: by financing projects and charging by the ‘negawatt,’ we simplify the equation and deliver energy efficiency as a valuable resource for our customers,” said Metrus CEO Bob Hinkle. “The BBC, and its impressive group of growing partners, underscores that energy efficiency is an abundant national resource.”
One of the partners newly added to the BBC this week is Energi, an insurance provider that guarantees the energy savings performance on retrofit projects.
“Because their model makes it easy for companies to gain the benefits of energy efficiency, Metrus broadens the energy efficiency market significantly,” said Brian McCarthy, Energi CEO. “Including Metrus in the Better Buildings Challenge confirms that the White House keeps a close eye on the energy efficiency market, since they clearly understand that players like Metrus will make the biggest changes happen.”
The DOE’s Energy Information Agency estimates that on average 30 percent of energy used in commercial buildings is wasted. The Better Buildings Initiative aims to eliminate this wasted energy, and, in return, create jobs and improve businesses’ bottom line. The BBC members will work with other program participants to make commercial buildings 20 percent more energy efficient by 2020 and to reduce the nation’s energy bills by approximately $40 billion per year.
About Metrus Energy
Metrus Energy, Inc. provides capital, project development and ongoing asset management services for energy efficiency projects at large commercial, industrial and institutional facilities. Through its comprehensive financing solutions, Metrus pays for all upfront and ongoing project costs, providing facilities with the immediate operational and environmental benefits of large-scale energy efficiency measures without the capital expense. By partnering with Metrus, businesses are able to treat energy efficiency as a resource to improve the bottom line and achieve corporate sustainability. Metrus is headquartered in San Francisco, California. Visit www.metrusenergy.com for more information.