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Ascentium Capital Joins Noesis Energy's Efficiency Project Financing Marketplace
Leading equipment financing company is the latest lender to connect with more than 100 project developers that use the Noesis marketplace to finance LED lights, building controls and other energy-efficient equipment for construction and retrofits
|By PR Newswire
|September 2, 2014 06:00 AM EDT
AUSTIN, Texas, Sept. 2, 2014 /PRNewswire-iReach/ -- Noesis Energy, the fastest-growing financing marketplace for commercial energy efficiency projects, announced that Ascentium Capital has joined its syndicate of efficiency lenders that use Noesis to connect with more than 100 energy-efficiency companies that collectively propose over $1 billion in projects annually. Noesis is the world's leading lending marketplace that provides detailed energy savings and technical underwriting information to assist in project justification and financing worthiness.
Photo - http://photos.prnewswire.com/prnh/20140831/141726
Ascentium Capital, a national commercial lender, is ranked as the fifth-largest private-independent finance company by volume in the U.S. As a direct lender, Ascentium specializes in equipment financing, leasing and working capital solutions for the energy-efficiency market, which brought Noesis and Ascentium together. Ascentium's proprietary credit underwriting platform, combined with Noesis' technical project underwriting, will deliver quick, competitive finance quotes to Noesis' project developers.
"We're excited to work with Noesis and offer flexible financing to their national network," said Pat Kistler, SVP of sales at Ascentium Capital. "Energy efficiency investments represent a substantial opportunity to generate a positive cash flow for building owners. Our affordable financing, combined with energy-saving equipment, can drive a fast and substantial return on investment."
Ascentium's financing will be presented as part of Noesis' Efficiency Finance Finder, which lets project developers include financing on proposals to building owners. The quote system is a key capability of Noesis' marketplace, which connects project developers with the best financing resources.
Unlike traditional lending, which typically only reviews a borrower's credit worthiness, Noesis performs a technical risk profile and ROI analysis, enabling lenders to consider the merits of the project. Lenders can then adjust underwriting to factor in the attractive cash-flow attributes of energy projects and offer the most competitive terms.
"We're very pleased to be working with Ascentium Capital," said Scott Harmon, founder and CEO of Noesis Energy. "Ascentium brings the right combination of informed and innovative underwriting to the table, and is positioned to consider and understand the impact of a project's cash flows and the building owner's credit — a practice that is well understood in commercial real estate lending."
With Ascentium Capital, Noesis concentrates its focus on the multi-billion dollar opportunity in energy-efficiency financing tied to projects that improve operating profits and property values of commercial buildings such as hotels, restaurants, corporate campuses, warehouses and other facilities. According to Navigant Research, building owners will spend $17 billion on efficiency investments in 2014, but despite the popularity of equipment financing, lending has yet to make significant in-roads into this market.
Financing has been prevalent for traditional commercial equipment like computers and fleet vehicles, and with the help of Noesis and its marketplace, financing will be critical to unlocking billions of dollars of investment in energy-efficiency equipment and services such as lighting, air handling and building controls.
ABOUT ASCENTIUM CAPITAL
Ascentium Capital, as a direct lender, specializes in providing equipment financing, leasing and working capital solutions that drive growth and profit for equipment manufacturers, distributors as well as direct financing to businesses nationwide. For more information, please visit AscentiumCapital.com.
ABOUT NOESIS ENERGY
Noesis Energy helps efficiency professionals get more projects approved and implemented by providing turnkey financing services and SaaS-based software tools to accelerate and streamline their efficiency project analysis and proposals. Noesis Energy is backed by Black Coral Capital and Austin Ventures, and maintains offices in Austin, Texas and Cambridge, Ontario, Canada. For more information, visit www.noesisenergy.com and follow @noesisenergy. Learn how Noesis' Energy platform works here. Find incentives at incentives.noesisenergy.com.
Media Contact: Tim Cox, ZingPR for Noesis Energy, +1-650-369-7784, [email protected]
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SOURCE Noesis Energy
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