Redaptive secures $156.5 million funding boost

Redaptive Inc has closed $156.5 million in funding, led by CarVal Investors, which will meet growing demand from new and existing customers.

The company enables energy efficiency retrofit programs without upfront capital and guarantees results using directly measured building data, allowing companies to reduce their costs while continuing to scale their operations. It has partnered with firms such as Mountain, McKesson, Saint-Gobain, SRS Distribution, Avantor and Swedish Health Services. 

Dan Anninos, Iron Mountain's VP of Global Facility Management, said achieving sustainability commitments and optimising capital allocation are key components to its business strategy and important to employees and customers globally. 

"Redaptive has played a fundamental role in helping us achieve broad emission and energy reductions, through our energy efficiency programs, while all along preserving internal capital for our core business in North America and across Europe," he said.

Redaptive has enabled over $380 million in sustainability projects and a total energy reduction of 1.1 billion kilowatt-hours.