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    GridPoint gains $150M Investment to scale up Commercial Building Energy Management

    June 28, 2023
    It also could help GridPoint bringing 80,000-100,000 additional commercial buildings online with its platform over the next few years. GridPoint currently manages more than 18,000 building sites
    Image credit GridPoint
    Gridpoint 649c935416197

    Energy management and building efficiency technology firm GridPoint has received financial leverage to scale up its work in the commercial building sector with a new $150 million investment from HASI (Hannon Armstrong).

    The new credit facility should fund GridPoint to accelerate its energy management and optimization offerings for the commercial real estate sector. It also could help GridPoint bringing 80,000-100,000 additional commercial buildings online with its platform over the next few years.

    GridPoint currently manages more than 18,000 building sites.

    The funding facility expands on the partnership with HASI which began in 2019.

    Read all about Energy Efficiency in EnergyTech

    Our latest EnergyTech ENL: Advanced Buildings play key role in Decarbonization Acceleration

    “We are excited to expand our partnership with HASI as GridPoint continues to grow rapidly,” CEO Mark Danzenbaker said in a statement. “This new financing facility makes commercial energy management more accessible and enables our customers to help achieve cost savings from day one and meet long-term sustainability goals.”

    Commercial and industrial building emissions account for close to 30 percent of greenhouse gases released in the U.S., according to reports. In a recent survey by Conservation International and We Mean Business Coalition, 82 percent of business respondents agreed they need to accelerate decarbonization efforts but are constrained by spending concerns.

    GridPoint and other energy management firms are increasingly adopting earlier upfront agreements with customers to forgo those financial barriers to getting started. Some of these models forgo upfront costs so the customers pay back on installments and energy savings. 

    Under the platform GridPoint customers also can participate in automated demand response programs. 

    Earlier this year, GridPoint was awarded an Edison Award for carbon accounting integration program with TimberRock

    About the Author

    Rod Walton, EnergyTech Managing Editor | Senior Editor

    For EnergyTech editorial inquiries, please contact Managing Editor Rod Walton at [email protected].

    Rod Walton has spent 15 years covering the energy industry as a newspaper and trade journalist. He formerly was energy writer and business editor at the Tulsa World. Later, he spent six years covering the electricity power sector for Pennwell and Clarion Events. He joined Endeavor and EnergyTech in November 2021.

    Walton earned his Bachelors degree in journalism from the University of Oklahoma. His career stops include the Moore American, Bartlesville Examiner-Enterprise, Wagoner Tribune and Tulsa World. 

    EnergyTech is focused on the mission critical and large-scale energy users and their sustainability and resiliency goals. These include the commercial and industrial sectors, as well as the military, universities, data centers and microgrids. The C&I sectors together account for close to 30 percent of greenhouse gas emissions in the U.S.

    He was named Managing Editor for Microgrid Knowledge and EnergyTech starting July 1, 2023

    Many large-scale energy users such as Fortune 500 companies, and mission-critical users such as military bases, universities, healthcare facilities, public safety and data centers, shifting their energy priorities to reach net-zero carbon goals within the coming decades. These include plans for renewable energy power purchase agreements, but also on-site resiliency projects such as microgrids, combined heat and power, rooftop solar, energy storage, digitalization and building efficiency upgrades.

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