Noesis also taps former US Department of Energy Finance Expert Michael Park as VP of project finance to secure project financing for growing list of Noesis Partners
Austin, TX /PRNewswire-iReach/ - Noesis Energy, the industry-leading financing platform for energy efficiency projects, continued to capitalize on the demand for financing of commercial and industrial (C&I) energy efficiency projects such as lighting upgrades and HVAC retrofits. During Q2 of 2014, Noesis signed up 38 project developers for its popular Noesis Financing Service (NFS), which enables them to offer third-party financing for energy efficiency (EE) projects through Noesis' online EE sales platform, and gain access to Noesis' team of EE project finance experts to help close deals. By partnering with Noesis, NFS partners get more projects approved – and approved faster.
"Project financing has definitely emerged as the key to unlocking investment in energy efficiency, but it's not just the availability of capital that's needed," said Scott Harmon, CEO and founder of Noesis Energy, "To really drive new deals, project developers must be able to present and explain the business case and financing options to building owners, and this is where Noesis excels through our people and technology."
Continuing its trend to sign up leading C&I EE project developers onto its industry-leading platform, Noesis added 38 new agreements in Q2 with companies that collectively propose over $500 million in projects per year with an average proposal size of $200K. So far this year, Noesis has signed 66 project developers who propose over $950 million in EE projects per year. These new customers span the energy efficiency industry spectrum, and include equipment manufacturing, energy management, efficiency consulting, energy engineering and design/build services for a wide range of efficiency technologies, such as lighting, HVAC, building controls and solar.
New customers include: Tampa Bay Trane, Plano-Coudon; Werner Electric Supply; Shepherd Energy; Sam DeSanto Co.; Clark Nexsen; LaJolla Construction Management; Bravo Lighting; North Coast Electric Company; AKF Group; Waibel Energy Systems; Ruyle Mechanical Services; KeyStone Energy; Murphy & Miller; KLH Engineers; Canadian Traders; ProQuip America; NexRev; Automated Energy Solutions; Innovative Facilities Solutions; Archway LED; BGC Environmental Brokerage Services; Hilltop Energy Partners;Smardt Chiller Group; Anderson Air Conditioning; Altura Associates; U.S. Engineering; Get Green Energy Retrofits; Energy Performance Service; RTRO Energy; Conserve Energy Now Group; USA Promlite Technology; and LighTec.
"CFOs and building owners don't always have the budget to invest in energy efficiency projects, so we're thrilled to be teaming up with Noesis who can offer financing options for all of our proposals. By creating options for building owners that are flexible and cash-flow positive, we succeed in not only winning the business, but creating financial value for our clients," David Gomez, president and CEO, Hilltop Energy Partners
Also in Q2, Noesis signed Affiliated Distributors, who will extend Noesis Financing Services to its EnergyForce Champions to help them add financing to their EE project proposals. Affiliated Distributors is a cooperative of over 600 independent distributors and manufacturers with collective annual sales in excess of $28 billion in markets that include electrical supplies, industrial supplies, plumbing, PVF, HVAC, drywall, and clean energy.
Finally, in Q2, Noesis announced the hiring of Michael Park as vice president of project finance. With this appointment, Noesis launched a new group to provide expert assistance to EE project developers as they offer financing solutions to their customers.
Mr. Park brings deep experience in a broad array of financing products in both the public and private sectors. He comes to Noesis from the United States Department of Energy, where he was a senior investment officer in the loan guarantee programs office. Before that, he was assistant vice president at National Cooperative Bank (NCB), where he led the structured finance group that specialized in renewable energy, tax credit and non-profit finance. He also provided oversight of NCB's commercial real estate underwriting department.
"Noesis is changing the game in the energy efficiency landscape," said Michael Park. "Noesis is able to streamline and accelerate the project evaluation and underwriting, a process that has traditionally taken up to six months to do, and get projects financed using simple products like equipment leases to performance-based vehicles like shared savings agreements."
About Noesis Energy
Noesis Energy helps efficiency professionals get more projects approved and implemented by providing turnkey financing services and SaaS-based software tools to accelerate and streamline their efficiency project analysis and proposals. Noesis Energy is backed by Black Coral Capital and Austin Ventures, and maintains offices in Austin, Texas and Cambridge, Ontario, Canada. For more information, visit www.noesisenergy.com and follow @noesisenergy.
SOURCE: Noesis EnergyCopyright 2014 PR Newswire. All Rights Reserved