Redaptive, which makes energy-saving improvements for commercial and industrial buildings with its Energy-as-a-Service model, announced this week that it received a $200 million investment to accelerate its growth.
The investment came from Canada Pension Plan Investment Board. Existing investors like Linse Capital and CBRE are also participating in the investment round.
Redaptive, which canceled its plans to go public last month, is among a growing number of companies that have chosen to grow their business through equity funding instead of a public listing. With inflation and market uncertainty in the air, an EY analysis found that 1,333 global companies went public this year, which is a 45 percent decrease from last year.
Redaptive identifies energy-saving opportunities at commercial and industrial real estate properties and then implements those solutions across the company’s portfolio. Redaptive also monitors its energy-saving technology and provides maintenance after installation.
By installing new HVAC, LED lighting, solar energy and other energy-saving systems, Redaptive can help companies save money while also reducing their greenhouse gas emissions and reaching their sustainability goals. Redaptive helps companies make the transition by funding the upfront costs.
“This funding gives Redaptive the capability to accelerate our growth and help more customers reach and exceed their energy efficiency and sustainability goals,” Redaptive CEO Arvin Vohra said in a statement.
The company is actively hiring for nearly 20 roles across finance, sales, operations, product, engineering and data.
