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UK-based energy services company eEnergy has partnered with US-based Energy-as-a-Service and data solutions provider Redaptive, with the latter providing funding up to £100m to support Redaptive-approved eEnergy customer projects across the UK. The move establishes eEnergy as one of Redaptive’s dedicated delivery partners for Redaptive-initiated projects in the UK.
Founded in 2015, Redaptive funds and installs energy-saving and energy-generating equipment across its clients’ real estate portfolios. To date, projects have mainly been US-based (though it does count a number of UK clients on its roster). However, the company looking to expand coverage – hence the deal with eEnergy (which has a significant market presence in large-scale LED and solar installations, and provides customers with energy analytics services via its MY ZeERO portal).
eEnergy already has a funding facility with NatWest, but that’s restricted to solely public sector projects; the Redaptive partnership opens up opportunities across both private and public sector clients.
Energy is the third-placed sector globally, in terms of activity logged in the latest Sustainability Technology Activity Index (one of which being the launch of Redaptive’s partner programme in January 2024) – with 21.6% of the 914 activities worldwide impacting the sector. It represents something of a ramp-up in activity (the pilot Index for Q4 2022 ranked Energy supply, Energy generation, and Energy storage as three of the bottom four ranked use case areas); with investment and interest in the area increasing somewhat since 2023’s COP28 commitment to triple renewables capacity and double energy efficiency by 2030 (see COP28’s Call to Arms for the Tech Industry).
Look out for the latest Sustainability Technology Activity Index reports, coming soon – with in-depth analysis of the global picture (segmented by sector, use case area, and technology) and what the activity trends are telling us in uncertain times, plus deep dives into the UK market specifically. This research is available only to subscribers of SustainabilityViews. If you are not yet a subscriber, or are unsure if your company has a subscription, please contact Belinda Tewson to find out how you can gain access.
Posted by: Craig Wentworth at 09:57
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investment