Development Process

The development process, as outlined below, typically requires six to eight months from initial customer contact to construction.

Mutual Non-Disclosure Agreement

Metrus and the customer enter into a mutual non-disclosure agreement, which initiates the transfer of information. The shared information may include customer’s audited financials, utility billing history and facility operation protocols.

Letter of Intent

Metrus and the customer enter into a letter of intent that outlines: (1) mutual intent to develop and fund a project, (2) preliminary project development activities, (3) exclusivity period and (4) subsequent project development steps.

Preliminary Scoping Study

ESCO will complete a preliminary scoping study that estimates the costs and benefits of potential efficiency improvements at a facility. This preliminary scoping study is completed at no cost to the customer, and the customer has no obligation to proceed with the project.

Project Agreement

If the scoping study identifies a feasible project, Metrus, the customer and the ESCO sign a binding agreement that details the project development schedule period and defines key criteria that will be used to determine if the final project is “acceptable.” If the final project scope meets the defined criteria and the customer does not proceed with the deal, a termination fee will apply.

Investment-Grade Audit

The ESCO will complete an investment-grade audit that is based on comprehensive engineering analysis and provides detailed project cost and savings information. This audit report forms the basis for final engineering, design, and construction activities that is utilized by Metrus.

Financing Agreement

After the project scope of work is finalized, Metrus and the customer execute the financing agreement (either ESA or Efficiency Retrofit Lease). In parallel, Metrus executes a contract with the ESCO to cover project implementation and the subsequent maintenance activities.