Ontario — EnPowered announced the availability of EnPowered Payments.
The company says the platform allows energy solution providers to reduce buying barriers by seamlessly charging for projects, products, and services directly on their customers’ existing electricity bills as an operating expense.
EnPowered says its tool will unlock thousands of cleantech projects by enabling customers to bundle energy efficiency projects with their monthly electricity bill — allowing them to pay for these projects with savings instead of investing millions upfront.
That hundreds of their partners install energy efficiency upgrades of all kinds, and these upgrades can save customers up to 70% on their monthly electricity bills, but they are often stalled due to complex approval processes and payback requirements.
“Our core mission is to accelerate the cleantech revolution by removing the friction in the energy industry,” said EnPowered’s Founder and CEO, Tomas van Stee. “Our existing product, EnPowered Programs, has helped customers save more than $184 million and reduce emissions by accessing complex energy markets. With EnPowered Payments, we’re making it possible for our partners to sell—and for their customers to buy—energy solutions using those savings.”
“Capital procurement and approval processes present major hurdles for our companies looking to advance cleantech adoption,” said Jay Barber, President & CEO, Southeast Capital & Finance LLC. “Even when risk is low and ROI is compelling, securing capital for energy projects can be difficult or impossible, with the result being that too many important energy projects never get started. Transforming large-scale purchases into operating expenses vastly expands the market of potential buyers for cleantech solutions, and we’re pleased to provide that financing.”