August Energy, Energeia form $100 mn platform to decarbonise C&I facilities

The August Energeia platform will finance and manage energy-efficiency upgrades and renewable energy systems for commercial and industrial customers without upfront investment

Singapore-based energy-as-a-service (EaaS) infrastructure platform August Energy and Indian energy-efficiency firm Energeia on Wednesday announced a $100 million partnership to fund and deliver energy-efficiency infrastructure projects for commercial and industrial (C&I) customers.

 

The platform, called August Energeia, will finance and deploy upgrades to energy-intensive infrastructure across cooling, heating, steam, compressed air, fuel switching and motor-driven systems. It will also support the deployment of renewable energy systems across solar, wind and storage, led by August Energy, allowing customers to avoid upfront capital investment.

 

August Energeia will finance, implement and manage the energy infrastructure, with project economics linked to the performance and savings delivered, the companies said in a statement.

   

It will target energy-intensive sectors, including pharmaceuticals, automotive, food and beverages, chemicals, cement, steel, hospitality, health care, data centres, real estate investment trusts (REITs) and commercial real estate.

 

“The technology to optimise and decarbonise Indian factories and buildings has been ready for years, but high upfront prices, energy savings uncertainty and L1 procurement mandates drastically limited adoption. By shifting the financial model from high-risk CAPEX to predictable, performance-linked OPEX, we are removing the upfront friction and delivering outcomes rather than selling products,” said Sookrit Malik, co-founder and chief executive officer, Energeia.

 

For the partnership, August Energy brings capital from European, Japanese and Asian institutional investors, including Aravest, Green Tower, Proparco, responsAbility and Aseem.