Joule Assets Deploys $90M in Financing to 10 Energy Efficiency Contracting Firms
Joule Assets will deploy an initial $90 million for 10 US-based energy efficiency contracting firms, with a total pipeline projected at $270 million. The lines of credit from Joule Assets will enable these small-to-mid-sized contractors to offer financing options, shortening sales cycles and extending their project pipelines.
For example, with this line of credit, NorthWrite, an energy information management company, expects to finance 50-100 energy efficiency projects in the next 12 months across a spectrum of small commercial buildings, including schools, restaurants, national chains and offices.
The financing is funded from the Joule Energy Reduction Asset (ERA) Fund, which is managed by Joule Assets.
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