Welcome!

News Feed Item

K2 Clean Energy Capital Develops $8.65 Million C-PACE Financing for Advanced Energy-Efficient Facility at Verseon Corporation in Silicon Valley

Innovative Lower Cost-of-Capital from CleanFund Commercial PACE Capital Fuels Largest Funding of its Kind in Biotech/Healthcare Industry

FREMONT, Calif., Dec. 7, 2017 /PRNewswire/ -- K2 Clean Energy Capital, LLC, a leading developer of Commercial PACE (C-PACE) financing, is pleased to announce the PACE funding for an $8.65 million energy efficiency project at the new Verseon research and administrative facility in Fremont, CA in Silicon Valley. Verseon is a technology-based pharmaceutical company with a proprietary, computationally driven drug discovery platform. The financing will help fund energy-related improvements such as the installation of new HVAC systems, energy-efficient LED lighting and glass, and a natural gas-based power generation system as part of an overall facility refurbishment. The facility will serve as the primary location for the discovery and development of new pharmaceuticals.

The combination of the energy efficiency upgrades and co-generation system will offset a large portion of the electricity supplied from the grid and result in substantial operational cost savings. The co-generation system generates heat, enabling a reduction in the natural gas and energy required for the boilers and HVAC system, and produces electricity to offset the grid loads. The system also serves as emergency back-up for the facility during grid power outages and can operate on propane from onsite tanks in the event of an interruption in the utility natural gas supply. The ultra-low emission co-gen system replaces the typical diesel generator back-up system and will significantly reduce the carbon footprint of the facility.

"This is the largest PACE financing project in the bio-tech industry on a national basis and exemplifies how industrial companies can benefit from PACE," said Stephen Tsu, co-founder and Managing Director of K2 Clean Energy Capital. "Verseon was able to raise capital for the implementation of renewable energy and energy efficiency initiatives while simultaneously reducing operating expenses at their new facility.

"We were pleased to have CleanFund Commercial PACE Capital as our funding partner for the project," he added. "They were selected after an extensive search process, and their perseverance and support were instrumental in closing and funding the project."

About K2 Clean Energy Capital, LLC:
K2 Clean Energy Capital is a leading developer of C-PACE renewable energy, energy efficiency, and water conservation projects with a focus on the hospitality, bio-tech, food-processing/distribution, and retail industries. The company has offices in Campbell, CA in the San Francisco Bay Area and Austin, TX. K2 CEC also offers commercial financing services to renewable energy contractors and developers through its PACE Financing Application on the Energy Toolbase proposal generation platform. More information is at www.k2cleancap.com.

About CleanFund
Sausalito, CA-based CleanFund Commercial PACE Capital is the leading direct provider of long-term financing for energy efficiency, water conservation, renewable energy and seismic improvements to commercial, multifamily and other nonresidential properties in the U.S.  With significant expertise in commercial real estate, finance, renewable energy and PACE policy, CleanFund offers PACEDirect™ and SolarPACE™ financing programs, enabling property owners to upgrade their properties with no up-front cost while increasing property cash flows and value. Visit us at www.cleanfund.com.

Contact:
For K2: Jonathan Pickering, Managing Director
K2 Clean Energy Capital, LLC
900 E. Hamilton Ave, Suite 100
Campbell, CA 95008
[email protected]
www.k2cleancap.com

For CleanFund:
Ron Heckmann, Heckmann Communications
[email protected]
(510) 652-5800

 

View original content:http://www.prnewswire.com/news-releases/k2-clean-energy-capital-develops-865-million-c-pace-financing-for-advanced-energy-efficient-facility-at-verseon-corporation-in-silicon-valley-300568084.html

SOURCE K2 Clean Energy Capital, LLC

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, provided a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to oper...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
In his session at 21st Cloud Expo, James Henry, Co-CEO/CTO of Calgary Scientific Inc., introduced you to the challenges, solutions and benefits of training AI systems to solve visual problems with an emphasis on improving AIs with continuous training in the field. He explored applications in several industries and discussed technologies that allow the deployment of advanced visualization solutions to the cloud.
"ZeroStack is a startup in Silicon Valley. We're solving a very interesting problem around bringing public cloud convenience with private cloud control for enterprises and mid-size companies," explained Kamesh Pemmaraju, VP of Product Management at ZeroStack, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
22nd International Cloud Expo, taking place June 5-7, 2018, at the Javits Center in New York City, NY, and co-located with the 1st DXWorld Expo will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud ...
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...
"Infoblox does DNS, DHCP and IP address management for not only enterprise networks but cloud networks as well. Customers are looking for a single platform that can extend not only in their private enterprise environment but private cloud, public cloud, tracking all the IP space and everything that is going on in that environment," explained Steve Salo, Principal Systems Engineer at Infoblox, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventio...
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
Agile has finally jumped the technology shark, expanding outside the software world. Enterprises are now increasingly adopting Agile practices across their organizations in order to successfully navigate the disruptive waters that threaten to drown them. In our quest for establishing change as a core competency in our organizations, this business-centric notion of Agile is an essential component of Agile Digital Transformation. In the years since the publication of the Agile Manifesto, the conn...
"MobiDev is a software development company and we do complex, custom software development for everybody from entrepreneurs to large enterprises," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.